Styjun

I am having trouble with the following:

I enter a strategy which is closed after close < ema. For the sake of a better exit, I would like to close it when close > ema but the low (of any given bar after the entry) is lower than ema (low < ema).

I cannot figure out how to do the 'any given bar after the entry' moment. I guess the script should somehow store the value of the previous bar if true, but then comes the problem with scripting when the strategy has actually started. Any help would be appreciated!

PS. As you can see I am not a coder and this is probably hard to understand. I really apoligize for it and thank you for your time.

Mihail

I have tried with stating when the entry condition is on with strategy.position_avg_price > 0, adding to it the desired conditions:

 h = nz(strategy.position_avg_price) > 0 and not 
 crossunder(close,ema(close,length)) and 
 crossunder(low,ema(close,length)) ? 1 : 0 
 rightborder = barstate.islast // treat the last bar (most recent bar) 
 as the right edge of the lookback window range
 // if examining the last bar (newest bar, rightborder is true)
 // set variable "val" to the previous value of series variable "h"
 // else set to na so nothing is plotted
 val = rightborder ? h[1] : na

But without success...

 scalp = b and c and d and e and f and g ? 1 : 0 // scalp is main 
 variable, if 1 the strategy is entered//
 if (scalp)
 strategy.entry("Short", strategy.short, when = scalp) // entry of 
 strategy
 if (crossunder(close,ema(close,length))) // usual close of strategy
 strategy.close("Short")
 if (not crossunder(close,ema(close,length)) and 
 crossunder(low,ema(close,length))) // attempt for a better exit!
 strategy.close("Short") 

After working on Mickey's suggestion:

///Entry 
if entry_on == 0 and scalp
 strategy.entry("Short", strategy.short) 
 entry_on := 1

///Desired exit 
if entry_on == 1 and crossunder(close,ema(close,length)) 
 strategy.close("Short") 
 entry_on := 0

/// Risk mitigation - 1 - Additional risk mitigation (when close > ema but 
low < ema of any given candle after entry -> exit at breakeven) 

if entry_on == 1 and close > ema(close, length) and low < ema(close, length) 
 entry_on := 2 

if entry_on == 2 and crossover(close,strategy.position_avg_price) 
 strategy.close("Short") 
 entry_on := 0

/// Risk mitigation - 2 - exit 15 bars after entry if not desired exit or 
risk mitigation - 1 

if entry_on == 1 and scalp[15] 
 strategy.close("Short") 
 entry_on := 0

Try something like this:

entry_on = 0.0
entry_on := entry_on[1] //this will carry entry_on result from last candle
if entry_on == 0 and close > ema(close, length)
 xx enter your open position code
 entry_on := 1

if entry_on == 1
 if close < ema(close, length) or low < ema(close, length)
 xx enter your close position code
 entry_on := 0