How do we get the open price of a stock using @Streak. I am trying with Opening Range(Open,Day) with 1 min timeframe. But it does not give me the correct open price. Looks like it take the 1 min candle open price which is different from the actual open price of the stock
Are you looking for the Open price of the day?
Yes, Open price for the day
You need to use Opening Range (Open, 5min). Opening range is used to refer to the day’s first candle
thanks for recommendation. since i’m still learning, that’s pretty helpful for me.
I am taking an example of a Scrip “Heromotoco”. Its 1st 5 min candle open is 2549.54 but the Open price of the day for the stock is showing 2556.
I would like to get the Open price of the day for the stock i.e 2556.
During backtesting, entry price is taken as the Open price of the nest candle. Since the 2nd 5 min candle for Heromotoco on 1st July opened at 2556, the entry price is taken as 2556. Having said that, you cannot get the Open price at the prigger price. Because When the market opens 9:15 and the first 5 min candle closes at 9:20, the OHLC data is used for calulating the indicators. Then the strategy condition are checked, then only you can enter a position, so practically the best and most probable price at which your entry should take place is the Open price of the 9:20 AM candle.
You can read this article on Streak backtesting to understand the rationale and how to use and verify backtests in Streak.