I need help in coding my strategy in tradescript.
My condition to get buy: Buy when the entire candle (OHLC) is below the Bollinger lower band and the candle is green.
Exit long: Find the range of the long entry candle, book profit equal to two times this range or book loss equal to one time this range
My Condition to sell: Sell when the entire candle (OHLC) is above the Bollinger upper band and the candle it red.
Exit short: Find the range of the short entry candle, book profit equal to two times this range or book loss equal to one time this range
I tried to code this logic in PI using AND operator and IF conditional statement but both returned errors
Using AND operator:
Getting “Your script generated an error”
Long entry:
SET O = OPEN
SET H = HIGH
SET L = LOW
SET C = CLOSE
SET BBB = BBB(CLOSE, 20, 2, EXPONENTIAL)
O < BBB AND H < BBB AND L < BBB AND C < BBB AND C > O
Short entry:
SET O = OPEN
SET H = HIGH
SET L = LOW
SET C = CLOSE
SET BBT = BBT(CLOSE, 20, 2, EXPONENTIAL)
O > BBT AND H > BBT AND L > BBT AND C > BBT AND C < O
Using IF statement:
I am getting error message “Argument of IF function not optional”
Long entry:
SET O = OPEN
SET H = HIGH
SET L = LOW
SET C = CLOSE
SET BBB = BBB(CLOSE, 20, 2, EXPONENTIAL)
IF(O<BBB,IF(H<BBB,IF(L<BBB,IF(C<BBB,IF(C>O, TRUE,FALSE),FALSE),FALSE),FALSE),FALSE)
Short entry:
SET O = OPEN
SET H = HIGH
SET L = LOW
SET C = CLOSE
SET BBT = BBT(CLOSE, 20, 2, EXPONENTIAL)
IF(O>BBT,IF(H>BBT,IF(L>BBT,IF(C>BBT,IF(C<O, TRUE,FALSE),FALSE),FALSE),FALSE),FALSE)
Long entry exit:
SET O = OPEN
SET H = HIGH
SET L = LOW
SET C = CLOSE
SET LONG_RANGE = ABS(H-L)
SET PROFIT = LONG_RANGE MULTIPLY 2
C = LONG_RANGE+H OR LONG_RANGE - L
Short entry exit:
SET O = OPEN
SET H = HIGH
SET L = LOW
SET C = CLOSE
SET SHORT_RANGE = ABS(H-L)
SET PROFIT = SHORT_RANGE MULTIPLY 2
C = SHORT_RANGE-L OR SHORT_RANGE+H