OmniTrader Professional Forum
Trade Plans In Strategies
Exit in Lower TimeFrame
8 replies, 5110 viewings
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OmniTrader Professional Forum
Trade Plans In Strategies
Exit in Lower TimeFrame
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Last Activity 1/17/2022 3:59 AM 8 replies, 5110 viewings |
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ap·pren·ticeGuru Veteran  Posts: 122 Joined: 10/22/2010 Location: Columbia, MD  User Profile |
How do I set an EXIT in Tradeplan or Order Block of the strategy to run in current timframe (-1) ( where timeframe (-1) is the lower time frame of my choice) than the current primary timeframe in data period I have selected. I cannot find that option in Tradeplan. Is this possible ? Thanks. | ||
| Jim Dean Sage    Posts: 3433 Joined: 3/13/2006 Location: L'ville, GA User Profile |
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| ap·pren·ticeGuru Veteran Posts: 122 Joined: 10/22/2010 Location: Columbia, MD User Profile |
I have finally reached nirvana after much time spent studying, researching, spending, sharing, etc. everything to do with OmniTrader and trading to build a truly solid OT trading strategy that uses everything I have learned over the years and just come to learn I can't do something that is probably one aspect very important in exiting a trade at a very right time and moment, without donating much monies to the market. This feature alone can beat trailing stop, imho, in many ways, I think, done correctly. I understand N busy schedule, hopefully, they can consider to add this feature in OT2017 upgrade, date just around the corner. Peace. | ||
| Jim Dean Sage Posts: 3433 Joined: 3/13/2006 Location: L'ville, GA User Profile |
Simplest solution is to make the current timeframe BE the "-1" duration, and run the entry and filter etc at the higher timeframe. | ||
| ap·pren·ticeGuru Veteran Posts: 122 Joined: 10/22/2010 Location: Columbia, MD User Profile |
Will attempt your suggestion, but my fear is if consistent results in timely manner be given when signals are fired. As I recall, last time I tried something like that, I lost my mind following the strategy, timeframes :-) switching back/forth chart templates, periods, etc. It just did not go well for me at the time nor the results. I will try again, as I really need this concept to work to make my strategy successful. [Edited by ap·pren·ticeGuru on 10/13/2016 4:58 AM] | ||
| Jim Dean Sage Posts: 3433 Joined: 3/13/2006 Location: L'ville, GA User Profile |
If you don't need to do backtesting of the concept, there is another way to solve it using the system clock to parse the entry-timeframe bar at the HRE only. But that method only works for symbols that are sufficiently liquid in that timeframe. This is not an easy task for Nirvana to fix btw. It's been requested and discussed for many years. It would require major rewriting of core logic, which in turn could destabilize other stuff. Thus the roundabout solutions. | ||
| Mel Veteran Posts: 235 Joined: 3/18/2006 User Profile |
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| Jim Dean Sage Posts: 3433 Joined: 3/13/2006 Location: L'ville, GA User Profile |
The surest way to do this is to program everything from the lower timeframe, rewriting all the higher-timeframe logic based on "constructed" bars. [Edited by Jim Dean on 10/13/2016 9:07 AM] | ||
| Mel Veteran Posts: 235 Joined: 3/18/2006 User Profile |
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