OmniTrader Professional Forum
OmniLanguage Discussion
Can anyone help with omnilanguage exit ?
4 replies, 778 viewings
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OmniTrader Professional Forum
OmniLanguage Discussion
Can anyone help with omnilanguage exit ?
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Last Activity 10/5/2024 12:51 AM 4 replies, 778 viewings |
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MikeB Member Posts: 11 Joined: 4/7/2020 Location: Auckland NZ  User Profile |
Rhinohull(10) change from up (blue) to Red (down) Posted : 6/3/2024 2:45 AM Post #48919 Can anyone help with omnilanguage exit ? exit long Trade when: Rhinohull(10) change from up (blue) to Red (down) thanks Mike Attached file : Capture.JPG  Attached file : Capture.JPG (11KB - 103 downloads) | ||
| Etherist Member  Posts: 25 Joined: 6/9/2024 Location: South Australia User Profile |
Exit Long Trade Using RhinoHull Indicator: ======================================================================== ' Define the RhinoHull parameters Dim RHMAPeriod As Integer RHMAPeriod = 10 ' Calculate the RhinoHull Moving Average Dim RhinoHullMA As Series RhinoHullMA = RhinoHull(Close, RHMAPeriod) ' Check the color change condition for RhinoHull MA Dim CurrentColor As String Dim PreviousColor As String If RhinoHullMA > RhinoHullMA[1] Then CurrentColor = "Blue" Else CurrentColor = "Red" End If If RhinoHullMA[1] > RhinoHullMA[2] Then PreviousColor = "Blue" Else PreviousColor = "Red" End If ' Exit long trade condition: Change from Blue to Red If PreviousColor = "Blue" And CurrentColor = "Red" Then ExitLong("Exit Long Trade", "RhinoHull Color Change") End If ====================================================================== Explanation 1. Define Parameters: - `RHMAPeriod`: The period for the RhinoHull Moving Average. In this case, it is set to 10. 2. Calculate RhinoHull Moving Average: - `RhinoHullMA`: Calculate the RhinoHull MA using the `RhinoHull` function with the close prices and specified period. 3. Determine Current and Previous Color: - `CurrentColor`: Assign "Blue" if the current RhinoHull MA is greater than the previous value, otherwise assign "Red". - `PreviousColor`: Assign "Blue" if the previous RhinoHull MA is greater than the value before it, otherwise assign "Red". 4. Exit Long Trade Condition: - Exit the long trade if the `PreviousColor` was "Blue" and the `CurrentColor` is "Red". This indicates a change from up (blue) to down (red). Customisation and Use: - Customisation: Adjust the `RHMAPeriod` to suit your specific trading strategy. - Use: Implement this script in OmniTrader to automatically exit long trades based on the RhinoHull MA color change. This script will ensure that you exit a long trade when the trend detected by the RhinoHull Moving Average changes from up to down, helping manage risk and potentially improve trading performance. [Edited by Etherist on 6/10/2024 5:57 AM] | ||
| MikeB Member Posts: 11 Joined: 4/7/2020 Location: Auckland NZ User Profile |
I was expecting notification from the site if anyone replied checked a couple of times and saw nothing sorry for my late thankyou Just wondering how I use this code. I was looking for an omni language exit in a trade plan do i use this in a vote block or what? excuse my ignorance well done mate you've made my day Mike [Edited by MikeB on 10/4/2024 4:03 AM] | ||
| Etherist Member Posts: 25 Joined: 6/9/2024 Location: South Australia User Profile |
Alas I too do not have the Rhino Suite, as commented by others. Re: Thread notification via email ... I think you need to select a checkbox at the bottom of your post to be notified when you get a reply to that post. So ... it might be worth watching this OmniTrader’s Trading Strategies video: https://www.omnitrader.com/currentclients/SupportCenter/section6/. There is a section in there addressing "Understanding Market Reversal Exits". To answer your question, you need to edit the Orders component in a given (RhinoHull) strategy. There is the ability to write your own exits using exit algorithms. Assuming your installation is set to the default location: "Program Files (x86)/Nirvana/OT202X/Manuals/OmniTrader Professional User Guide.pdf" (change "OT202X" with the version of OmniTrader you are using), then you can check the various sections on Programmable Stops, i.e. see on page 21 of this document, you'll see an example of a Stop. Also on p.47 you have the section on "Writing Your Own Indicators, Systems, & Stops" and more specifically p.53 "Writing a Stop" ... Stops are used in the Orders block and can be created just like indicators and systems. Therefore you can create a #Stop in OmniLanguage, once this compiles correctly, then this Stop can be applied to the Orders component in the Rhino Hull Strategy. I'd need to know a bit more about the Rhino Suite to provide more in depth advice. Happy to assist where I can. Cheers Etherist :-) P.S. This post on Stops may be useful, or not: https://www.omnitrader.com/currentclients/proforum/thread-view.asp?threadid=7995 [Edited by Etherist on 10/5/2024 12:34 AM] | ||
| MikeB Member Posts: 11 Joined: 4/7/2020 Location: Auckland NZ User Profile |
It didnt take 5 minutes to construct that reply so thants for that comprehensive answer if I make serious money from this I will make a note to send you some! standby all the best MikeB |
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