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Registered User
Joined: 12/30/2004
Posts: 10
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I have been Trying out the new backscanner and have had one problem when trying to test a breakout strategy. I am trying to buy on a new 10 Day High Breakout. Here are my settings.
1) I drag the Prices over to the Condition Palette
2) I choose Price History & Making New High from the drop down menus. I then choose 10 Days as my High Period
3) I Select True Number Of Times to 1 & Within Number Of Bars To 0
4) I now drag this condition over to the Backscanner and choose the option BUY
5) I now go and edit the Buy condition. I Select Buy Long.
6) I am now confronted with when to buy. My choices are Open, Close, Middle of Range, High, Low.
These conditions limit me to what I really want to do. I would like to buy immediately as the price goes above the 10 Day high. I would normally have a Buy Stop order placed with my broker at .05 above the 10 day high. Is there someway to do this so that I can test this strategy?
Much Appreciated
Greg V.
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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In 3 you need it to be true 1 out of 1 bars. Out of 0 bars means it does not test any bars for 1 to be true.
There is no way for you to buy at the buy limit (yet). I would set it to buy at the high of the bar 0 bars ago.
- Craig
Here to Help!
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Registered User
Joined: 12/30/2004
Posts: 10
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I may not have explained myself. What I really would like to be able to do in the Backscanner is set up a condition that would simulate me buying on a 20 Day High. The minute the stock crossed the 20 Day high I buy at that price Instead of limiting me to buying only on the OPEN CLOSE HIGH LOW and MIDDLE OF RANGE. Is there a formula in real code editor or something that would allow me to test this or is the program just not capable of doing this?
Thanks
Greg V
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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gotafish,
I do not know of a way to do this currently. You would need to be able to algorithmically adjust the Price or be able to arbitrarily enter on the value of another Plot in order to do this.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 12/30/2004
Posts: 10
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Thanks for the reply back. I am disapointed buy hopefully this feature will be avaiable someday. I have read some of the other posts and they are having the same problem only being about to buy and sell on the canned options OPEN CLOSE HIGH LOW and MIDDLE OF RANGE. A lot of traders buy on the crossover right away.
Greg V.
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Administration
Joined: 10/7/2004
Posts: 378
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The next thing on the plate for BackScanner is to allow RealCode exit conditions, and using RealCode to set entry/exit prices.
Ole
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