Trying to code up Larry Connors TPS entry conditions.
I finally have to figure out how to scale into a position. Reading though the
help files and old emails I thought I understood it, but....apparently not.
I was thinking the first buy line would buy one lot and then the other buys
(currently commented out) would be used for subsequent buys...wrong.
The first buy is scaling into several lots all on its own as can be seen in the
attached .csv file of a part of the detail log. The buy prices are not what I
want, see those commented buy statements for that. It looks like SigScaleIn
is buying successive bars after the initial conditions are met for the first
buy.
So help me out here. How do I set up the scaling in where there can be as many
as 4 entries with them being larger by 2x, then 3x, then 4x as many shares at
individually specified entry price conditions.
RSI2 = RSI( RSIp);
MA5 = MA( Close, MAfp );
MA200 = MA( Close, MAsp );
PositionSize = 1000;
MAV = ( Close > MA200 AND Volume > 50000 );
Buy = MAV*IIf( Ref(RSI2, -1) < blvl AND RSI2 < blvl, sigScaleIn, 0 ); //
initial buy
entry_price1 = ValueWhen( Buy, Close);
/*
Buy = MAV*IIf( Close < entry_price1, 2*sigScaleIn, 0); // 2nd buy
Buy = MAV*IIf( Close < 0.8*entry_price1, 3*sigScaleIn, 0); // 3rd buy
Buy = MAV*IIf( Close < 0.7*entry_price1, 4*sigScaleIn, 0); // 4th b
*/
Sell = Cross( RSI2, selvl );
Detail log: see attached .csv file
