CODEWITHSUNDEEP
pine-scriptalgorithmic-trading
andrew
andrew

Reputation: 619

Pine: How open more Long orders in parallel ? (pyramiding)

I have this Pine strategy to open Long position when MA cross, and close position only if close price is higher than open order and also I put condition to close only if profit is more than 2% (((price/close)-1)*(-1)*100)>2 Strategy works fine, orders are closed only in profit but issue is that many trades I am missing because in general due to my strategy each new Long starts in higher price then previos trade, So when price drops, no other Long is opened. I think this is job for pyramiding to open more orders, but how to do it ? Lets say if price drops 5% from last opened Long price, then new Long order should be opened, when new buy signal is coming (crossover(outShort,outLong)

// Strategy functions
var  price = 0.0


if (crossover(outShort,outLong)) and afterStartDate and strategy.position_size == 0 and close < 59000
    price := close
    strategy.entry(id="Long", long=strategy.long)
    


if (crossunder(outShort,outLong)) and afterStartDate and ( price < close ) and (((price/close)-1)*(-1)*100)>2
    strategy.close(id="Long")

Here is my full simple code. By default strategy start in 1st May

//@version=4

strategy(title="My_MA_strategy", shorttitle="MyMA Strategy_0.04", format=format.price,  initial_capital=1000, overlay=true)

startDate = input(title="Start Date", type=input.integer,
     defval=1, minval=1, maxval=31)
startMonth = input(title="Start Month", type=input.integer,
     defval=5, minval=1, maxval=12)
startYear = input(title="Start Year", type=input.integer,
     defval=2021, minval=1800, maxval=2100)
     
afterStartDate = (time >= timestamp(syminfo.timezone,
     startYear, startMonth, startDate, 0, 0))
     

// Inputs
i_oversold      = input(30, title="Oversold")
i_overbought    = input(70, title="Overbought")
len             = input(14, minval=1, title="Length")
src             = input(close, "Source", type = input.source)



lenShort = input(10, minval=1, title="LengthShort")
srcShort = input(close, title="SourceShort")
offsetShort = input(title="OffsetShort", type=input.integer, defval=0, minval=-500, maxval=500)
outShort = sma(srcShort, lenShort)
plot(outShort, color=color.green, title="MA_Short", offset=offsetShort)


lenLong = input(19, minval=1, title="LengthLong")
srcLong = input(close, title="SourceLong")
offsetLong = input(title="OffsetLong", type=input.integer, defval=0, minval=-500, maxval=500)
outLong = sma(srcLong, lenLong)
plot(outLong, color=color.red, title="MA_Long", offset=offsetLong)



// Strategy functions
var  price = 0.0


if (crossover(outShort,outLong)) and afterStartDate and strategy.position_size == 0
    price := close
    strategy.entry(id="Long", long=strategy.long)
    

if (crossunder(outShort,outLong)) and afterStartDate and ( price < close )
    strategy.close(id="Long")

Upvotes: 1

Views: 456

Answers (1)

Walter Tosolini
Walter Tosolini

Reputation: 41

I think you have to declare pyramiding in your strategy.

pyramiding (const integer) The maximum number of entries allowed in the same direction. If the value is 0, only one entry order in the same direction can be opened, and additional entry orders are rejected. The default value is 0.

strategy(title="MyStrategy", shorttitle="MS", pyramiding = 10)

Upvotes: 1

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