- ago
Let's start a discussion for Buy At Close in Blocks and move post(s) from an inappropriate topic.
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- ago
#1
Eugeni,

I didn't find the "buy at close" Rule-based strategies (Blocks), similar to WL6.
Today is it possible?
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- ago
#2
At the moment we're not including them in Blocks but code-based strategies are enabled with MarketClose orders. Order execution at close is not something easy to achieve, especially intraday (where it just doesn't make any sense because a market order is one tick away).

WL7 doesn't show you the partial daily bar (unless you're using a streaming chart or streaming bars in Strategy Monitor). So, even the awkward workaround of running a strategy prior to the market close as in WL6 with Yahoo provider is not supported.
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- ago
#3
Rodrigo,

You could make WL6 buy at close on the same bar with Rules. The backtester in WL7 works differently so this is no longer possible. Using at close orders implies a code based strategy and peeking ahead at the next bar.
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- ago
#4
Hi Eugene,
I thought I saw something recently about how Wealth Lab has made it possible to buy at close with building block strategies, but I just looked at the newest WL7 release and couldn't find a way to do this with a strategy running on daily bars. Has this feature been added, or did I misunderstand?
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- ago
#5
From reading your comment from last year here: https://www.wealth-lab.com/Discussion/Buy-at-Close-5640

...if I understand correctly, the best way to use building blocks to buy at close is to convert to open as a C# coded strategy, then find the line where the order type is specified and write it like this:

CODE:
_transaction = PlaceTrade(bars, TransactionType.Buy, OrderType.MarketClose, 0, 0, "Buy At Market (1)");


Looking at a chart, this appears to work correctly but I just wanted to check with you to be sure, in case I'm missing a comma or something that may be required in the newest version of WL7
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- ago
#6
Hi Joe,

Your understanding is correct. And since it's on our FAQ, there's another topic that may come helpful in this context: "How can my strategy from Blocks enter or exit at close?"
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- ago
#7
Great. Thanks very much for your help.
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