Hello everyone,
I have a quick question about ApplyStop() and have done reasonable amounts of research on the forum but can't find a definitive answer so posting here for confirmation that I am using this correctly?
The general idea is that I want both Stops to apply ONLY ON THE LONG SIDE and let the Short run as it is without stops.
Since I am not using a technical signal, only stop orders, I was able to use Flip() to evaluate whether the system was long or not but it doesn't work in this case because Sell=False and using Equity(1,0) gave me odd results in the backtester.
Could someone please point me in the right direction?
SetTradeDelays(1,1,1,1);
Buy=Cross(RSI(2),30);
BuyPrice=Open;
Sell=False;
SellPrice=Open;
Bars=4;
Loss=4;
ApplyStop(stopTypeNBar,stopModeBars,Bars);
ApplyStop(stopTypeLoss,stopModePercent,Loss);
Short=Cross(RSI(2),90);
Short=Open;
Cover=Short; // cover the same day at the close
CoverPrice=Close;