Buy At Open If Overnight Price Change > 5%

Author: SoundFinancialConseling

Creation Date: 5/28/2020 3:27 AM

Wealth Lab » WealthScript (.NET) » Buy At Open If Overnight Price Change > 5%

SoundFinancialConseling

5/28/2020 3:27 AM

Hey Guys:

I know nothing about using the programming script. I am trying to get this script to buy a security at market open if the price increased by => 5% overnight. This script is not doing that, but I don't know how to make the necessary changes.

Can anyone help?

CODE:
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Eugene

5/28/2020 5:29 AM

Hi,

Option 1. You cannot really condition a market order that way because you place it before you know the open price but a stop should do it:

CODE:
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Option 2. The Fidelity static provider filters out pre/post market data for stocks. With GetSessionOpen you can issue a market order shortly after the open but it's less convenient e.g. have to schedule the strategy in the Strategy Monitor with custom Execute time like 9:35.

CODE:
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Option 3. I created a premarket scanner for MarketWatch.com so gaps up/down can be known beforehand. This can be used for live trading stocks that are about to gapp up with a simple BuyAtMarket script.

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Color:

Hi,

[b]Option 1[/b]. You cannot really condition a market order that way because you place it before you know the open price but a stop should do it:

[code]using System;
using System.Collections.Generic;
using System.Text;
using System.Drawing;
using WealthLab;
using WealthLab.Indicators;

namespace WealthLab.Strategies
{
	public class MyStrategy3 : WealthScript
	{
		protected override void Execute()
		{
			for(int bar = 1; bar < Bars.Count; bar++)
			{
				if (IsLastPositionActive)
				{
					SellAtClose(bar, LastPosition);
				}
				else
				{
					BuyAtStop(bar + 1, Close[bar] * 1.05);
				}
			}
		}
	}
}[/code]

[b]Option 2[/b]. The Fidelity static provider filters out pre/post market data for stocks. With GetSessionOpen you can issue a market order [i]shortly after[/i] the open but it's less convenient e.g. have to schedule the strategy in the Strategy Monitor with custom Execute time like 9:35.

[code]using System;
using System.Collections.Generic;
using System.Text;
using System.Drawing;
using WealthLab;
using WealthLab.Indicators;

namespace WealthLab.Strategies
{
	public class MyStrategy4 : WealthScript
	{
		protected override void Execute()
		{
			double openTradeBar = 0;
			int lastCompleteBar = Bars.Count - 1;

for (int bar = 0; bar < Bars.Count; bar++)
			{
				if (IsLastPositionActive)
				{
					SellAtClose(bar, LastPosition);
				}
				else
				{
					if (bar == lastCompleteBar)
					{
						openTradeBar = GetSessionOpen(Bars.Symbol);
						DrawLabel(PricePane, "Today's Opening Price = " + openTradeBar.ToString("0.00"));
					}
					else
						openTradeBar = Open[bar + 1];

if (openTradeBar > 0 && openTradeBar >= Close[bar] * 1.05)
						BuyAtMarket(bar + 1);
				}
			}
		}
	}
}
[/code]

[b]Option 3[/b]. I created a [b]premarket scanner[/b] for MarketWatch.com so gaps up/down can be known beforehand. This can be used for live trading stocks that are about to gapp up with a simple BuyAtMarket script.