CODEWITHSUNDEEP
tradingalgorithmic-tradingpine-script
Dr. Andrew Burnett-Thompson
Dr. Andrew Burnett-Thompson

Reputation: 21521

PineScript is exiting strategy and opening a double sized order on the same bar

Using the pinescript editor in TradingView, I've noticed a slightly strange occurrence. When there are triggers to exit a long trade (trailing stop) and a trigger to enter a new short trade on the same bar, both open, however, the short has 2x the position size than it should.

Here's the relevant code:

// When uptrend, use upper band as a stop market buy 
if (uptrend) 
    strategy.entry("Long", strategy.long, stop = h)

// Exit longs with a trailing stop. Assume longStopPrice is calculated per bar
if (strategy.position_size > 0)
    strategy.exit("Trailing Stop", "Long", stop = longStopPrice)

// When downtrend, use lower band as a stop market sell 
if (downtrend) 
    strategy.entry("Short", strategy.short, stop = l)

// Exit shorts with a trailing stop. Assume shortStopPrice is calculated per bar
if (strategy.position_size < 0)
    strategy.exit("Trailing Stop", "Short", stop = shortStopPrice)

Here is the output on the UI:

enter image description here

Notice that the long position size is 15.358918 and a few bars later, this is closed with a trailing stop size -15.358918. However a new short trade is also opened on the same bar size -30.70059 (It should not be -30 it should be -15).

enter image description here

A little bit later on this second trade is closed by trailing stop, size +15.34 (but -30 was opened).

The strategy leaves you net short -15 units for the entire duration of the backtest. Ideally i'd like the strategy.enter to only enter a single position size & trailing stop to close the entire position, not to enter a double position & close half.

Any ideas?

Upvotes: 1

Views: 2160

Answers (3)

Eralven
Eralven

Reputation: 11

Theres some logic behind but this happens when you dont close a position before opening a new one, what helped me was just moving the close strategy above the open, so every loop also checks to confirm to always close a position before opening a new one Btw, also dont forget that on one way mode position your 2nd trade must have to be 2x the previous one, since lets say you go +$25 long, then -$25 for short, you would end with $0 for the next trade. Then having 2x the previous one, you would go +$25 long, then -$50 for short, you would end with -$25 short for your next trade, then +$50 long again you would end +$25 next trade

Upvotes: 1

Mitesh Kumar
Mitesh Kumar

Reputation: 11

Its because your exit condition does not have the same id as the entry condition. For TV, the entry id has still not closed. So, change the exit id from 'Trailing Stop' to 'Long' and 'Short' as those are the ids used during the entry.

Upvotes: 1

kris
kris

Reputation: 7

add to if downtrend this-- and strategy.position_size == 0

Upvotes: -1

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