Daily bar becoming both an entry bar and an exit bar

[mdtmn]

Hi All ,
Part of my code has this line looking for an exit signal , ExitSignal = Close > Open , so a green up bar. Sometimes there can be a green up bar also creating an entry signal as it hits a limit price entry order .
This is all in Amibroker AFL code . would it be possible for anyone to suggest some code that would prevent the daily bar from creating a entry signal after it has created an entry signal.
Thanks for any help or comments
michael b

 

[tech/a]

There are a myriad of ways to add to the code
a few suggestions
(1) buy next open if condition is true
(2) but at a percentage over previous close if condition is true.
(3) use a different timeframe 2 or 3 day bars ( out of the square!)

There will be many others

 

[mdtmn]

There are a myriad of ways to add to the code
a few suggestions
(1) buy next open if condition is true
(2) but at a percentage over previous close if condition is true.
(3) use a different timeframe 2 or 3 day bars ( out of the square!)

There will be many others

Thanks for the reply , the entry is a limit buy order under the previous close and yes there are agzillion other methods and one method of exit is when a daily bar has its close above the open and yes there are a gzillion methods of exiting a trade , so as backtesting I was trying to negate the entry bar having both an entry and exit signal Thanks for your comments and suggestions

cheers

michael b

 

[tech/a]

Michael
an error most fall for is using the bar of the day triggered
for exactly the same reason you have found .
further your trigger may come and be negated by the time of the close on the day of the trigger
depending on what your entry is.
hence the suggestions ,
Unless you have a delay you can’t negate what’s happened on the same bar as it’s dynamic until the close. It can show a buy before the auction and be negated at the closing auction or vice versa.

 

[mdtmn]

Michael
an error most fall for is using the bar of the day triggered
for exactly the same reason you have found .
further your trigger may come and be negated by the time of the close on the day of the trigger
depending on what your entry is.
hence the suggestions ,
Unless you have a delay you can’t negate what’s happened on the same bar as it’s dynamic until the close. It can show a buy before the auction and be negated at the closing auction or vice versa.

Hi Tech ,
OK , thanks for the detailed explanation
cheers

michael b