Strategy: Buy on 55-day high, multiple positions, ATR stop

Author: Trader288

Creation Date: 11/23/2016 2:26 PM

Wealth Lab » Trading Strategies » Strategy: Buy on 55-day high, multiple positions, ATR stop

Trader288

11/23/2016 2:26 PM

I'm trying to create my first trading strategy, using existing "rules" in Wealth Lab Pro and want to confirm that I'm doing it correctly. Here is what I'd like to build:
Trigger an alert for a long position when a security (say one of the Dow 30) hits a new 55-day high.
Use a stop loss on that positon of a 15-day 2X ATR.
Trigger another long position in the same security when it increases in price by 1 ATR.
Move the stop loss on all positions to 2 ATRs
Sell all positions if the price of the security hits a new 20-day low.
What are the rules and conditions needed to create this strategy. Thanks very much for your time. Trader288

Eugene

11/23/2016 3:31 PM

Welcome to the forums.

You probably won't be able to create this strategy using Rules as it goes beyond available conditions. Give this a try:

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Welcome to the forums.

You probably won't be able to create this strategy using Rules as it goes beyond available conditions. Give this a try:
[code]using System;
using System.Collections.Generic;
using System.Text;
using System.Drawing;
using WealthLab;
using WealthLab.Indicators;

namespace WealthLab.Strategies
{
	public class MyStrategy : WealthScript
	{
		protected override void Execute()
		{
			var high = Highest.Series(High,55);
			var low = Lowest.Series(Low,20);
			var atr = ATR.Series(Bars,15);
			
			for(int bar = GetTradingLoopStartBar(55); bar < Bars.Count; bar++)
			{
				// exit rules				
				for(int pos = ActivePositions.Count - 1; pos >= 0; pos--)
				{
					Position p = ActivePositions[pos];
					
					//Move the stop loss on all positions to 2 ATRs
					if( !SellAtStop(bar+1, p, p.EntryPrice - 2*atr[bar], "ATR stop") )					
						//Sell all positions if the price of the security hits a new 20-day low
						SellAtStop(bar+1, Position.AllPositions, low[bar], "New low");
				}
   
				// entry rules				
				if( ActivePositions.Count == 0 )
				{
					//Trigger an alert for a long position when a security (say one of the Dow 30) hits a new 55-day high.				
					if( BuyAtStop(bar+1, high[bar], "Initial") != null )
						//Use a stop loss on that positon of a 15-day 2X ATR.
						LastPosition.RiskStopLevel = LastPosition.EntryPrice - 2 * atr[bar];
				}
				else
				{
					//Trigger another long position in the same security when it increases in price by 1 ATR.
					Position p = ActivePositions[0];
					if( BuyAtStop(bar+1, high[bar] + atr[bar], "+1ATR") != null )
						LastPosition.RiskStopLevel = LastPosition.EntryPrice - 2 * atr[bar];
				}
			}
		}
	}
}[/code]

Trader288

11/28/2016 1:32 PM

Thanks Eugene! Much appreciated.

Trader288

11/28/2016 3:01 PM

I noticed on another Forum post that you mentioned C+ for coding. Is that the best programming language for Wealth-lab. It seems for be the easiest to learn for someone with no coding experience - would you agree? Thanks

Cone

11/28/2016 3:28 PM

Not C+, but C#.

You can develop Wealth-Lab strategies in any .NET language, but the built-in editor/compiler is for C#.

Learning a programming language is mostly about its syntax. Although there are parts of every modern programming language that get esoteric, C# was invented for .NET and borrows some of the best features from other languages.