- ago
Hi,

Is there a way to backtest time based entries.

For example how would you back test buying SPY at close of RTH and selling open of RTH next day
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- ago
#1
Hi,

Yes, there are Blocks in the PowerPack extension aided to support time-based entries and exits.

https://www.wealth-lab.com/Discussion/Add-quot-Building-Block-quot-support-for-checking-Market-Hours-6789
https://www.wealth-lab.com/Discussion/day-trade-set-cover-sell-time-6808
https://www.wealth-lab.com/Discussion/Entry-Exit-Time-Building-Block-7557

Get the extension from here:
https://www.wealth-lab.com/extension/detail/PowerPack
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Cone8
 ( 6.32% )
- ago
#2
However, to use a true Market On Close (MOC) order, you'd need to edit the C# code to use OrderType.MarketClose and make sure that the order was placed 5 or 10 minutes before the close for Nasdaq or NYSE, respectively.
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- ago
#3
Hi Eugene,

Thank you for your response.

The email I received was from WL saying that as I was coming to the end of my trial period I could click a link to organise a zoom meeting for 30 minutes to ask any questions. I am super excited to learn WL and thought this would be a great way to start off.

When I send the email to the address zoom@wealth-lab.com it comes back as message not delivered.

Like I said I have watched all of the instructional videos on YouTube but I don't seem to be able to get a simple backtest so I must be doing something wrong. I have attached a basic backtest that I created in building blocks but it yields no results so I must be doing something wrong.


If a zoom meeting is not possible could you please point me in the direction of a user manual so I can learn how to use WL.

Thanks
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- ago
#4
Hi Scott,

First of all, please make sure that you have the latest revision of the PowerPack extension installed (build 2 and higher). The Bar Of Day condition was partially broken before then:
https://www.wealth-lab.com/extension/detail/PowerPack#changeLog

For this backtest to produce any results you should use an intraday data source. It will not work as expected with an end-of-day data provider such as Q-Data, Wealth-Data, Yahoo and the like.

Supported data providers can be installed from this page:
https://www.wealth-lab.com/Extension
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- ago
#5
Thanks Eugene,

I can confirm I have the latest version of power pack downloaded a few hours ago.

I have just downloaded data extensions and IQ feed. Could you please advise how I go about applying this data to the backtest. In particular I would like to backtest SPY & QQQ
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- ago
#6
First of all, do you have an account with a supported vendor of intraday quotes?
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- ago
#7
I only have an account with IB. If they don't offer the data can you recommend which provider to use?
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- ago
#8
Generally we recommend IQFeed but if your goal is SPY and QQQ backtesting then IB might suffice and be free.
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Cone8
 ( 6.32% )
- ago
#9
IB works fine for data as long as you don't need "tons" of data. Don't get IQFeed if you're only trading QQQ and SPY!
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- ago
#10
I have connected to IB however when I try an create a dataset I get the following error.

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Cone8
 ( 6.32% )
- ago
#11
It looks like you're creating a DataSet and Wealth-Lab was trying to launch TWS. Either TWS isn't installed or you didn't accept the default installation location, in which case you should:
1. Turn off Auto-launch in the configuration for IB
2. Start TWS before trying to connect to it.

Do this:
1. Restart Wealth-Lab 8
2. Open the Orders Manager
3. Select IB as the broker in the upper left and click "Connect".
4. If you're really connected, you should see messages to that effect and Wealth-Lab won't be trying to launch TWS from the C:\jts folder.

You asked about Zoom. Send a message to zoom@wealth-lab.com and let's set something up to get you going.
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