Using the wizard, I am developing and testing a strategy to enter long position on upside breakouts. When the strategy identifies a break-out on the daily close, it appears that the strategy tries to enter the position at open of the next day. Of course, many breakouts fail, some badly. E.g., on Day 0, the breakout is identified, then the next day, the Strategy Analyzer enters a long position at the open when the price gaps down, an obvious failure of the breakout. To provide some protection from failure on the very date of entry, I have tried to use the EnterLongStop so that the stop would only enter if the price is at a level that makes sense. If I set the stop for EnterLongStop as Low[0], I avoid the entry date gaps down, but legitimate breakouts are not taken even though the price on the day of entry is at or above the Low of day 0, the date on which the breakout was identified.
EnterLongStop(100, Low[0], "ChannelBreakout");
I want the Analyzer to enter a long position at market if the price is >= the low of Day 0. Am I misinterpreting how the EnterLongStop method works?
Comment