Cap Entries based on Entry ID

Question

I want to set up a trading strategy that uses three entry signals to go "fully long."

Ideally:

I want the first long to happen when the price closes above an EMA.
The second, heavier, long to happen when there is an EMA crossover.
And then the third which would double the position size will happen when the close is above the donchian channel.

I have named each entry a different ID thinking I could limit an entry to 1.

I tried pyramiding but it would keep entering the first trade over and over again if the price dipped below for a day and then came back up. It wouldn't hit my stop so it would just add a single contract to the position.

//Over EMA 2
lCOne = crossover(close,ematwo)

//EMA1 crossover EMA2
lCTwo = crossover(emaone, ematwo)

//Close above upper DC
lCThree = crossover(close,DChiHighs)

CloseOne = crossunder(close,DCloLows)
CloseTwo = crossunder(close,ematwo)

//if (lCOne)
strategy.risk.max_position_size(3)
strategy.entry("LONG ONE", strategy.long,1, when = lCOne)
strategy.entry("LONG TWO", strategy.long,2, when = lCTwo)
strategy.entry("LONG THREE", strategy.long,3, when = lCThree)

strategy.close("LONG ONE",when = CloseOne)
strategy.close("LONG TWO",when = CloseTwo)
strategy.close("LONG THREE",when = CloseTwo)

Ryan Ryan · Accepted Answer · 2021-01-07T00:27:55

I'm not sure if it's the best but I did find a solution.

strategy.entry("LONG ONE", strategy.long, 1 , when = lCOne and strategy.position_size < 1)
strategy.entry("LONG TWO", strategy.long, 1 , when = lCTwo and strategy.opentrades == 1)
strategy.entry("LONG THREE", strategy.long, 1 , when = lCThree)

Using strategy.position_size and strategy.opentrades

I could probably use strategy.opentrades for all three but I haven't played around too much. This satisfies me for now, hopefully it helps.

Cap Entries based on Entry ID

1 Answers