Wick entry & Exit

[surya]

Team,

I have a build a strategy to take entry based on wick and here is the code. I have similar for other direction. and it works fine.





But also, I have situation where WICK formed for UPSIDE and immediate next candle DOWNSIDE and in this situation system should take entry on latest direction but its taking entries on both direction and resulting in failure. Please find below screengrab and help me on how to handle this situation.

[NinjaTrader_PaulH]

Hello surya,

Thanks for your post.

You could add a check to see if the previous bar was in the same direction.

A up bar = Close > Open
A down bar is Close < Open

[surya]

Thanks Paul, yours above recommendation worked very well. Here is another situation I'm facing can you guide us on how to handle it?
Here you can see there are 2 candles with WICKS. Currently system is taking 2 trades rather I want to trade only on latest one

[NinjaTrader_PaulH]

Hello surya,

Thanks for your reply.

I could not provide a solution for you as I assume the first entry meets your trade requirements and there is no way to know that the next candle will as well. You could prevent the 2nd entry by using Misc>Bars Since Exit, greater, Misc>Numerical value, X , as an entry criterion, where X is the number of bars you wish to wait before entering again. Note that when used as an entry criteria you will have to create this as a group so that you can check for the number of bars OR a -1 value. A -1 value means there has been no previous exit and without that, you will get no first entry.