Calculate an ATR array into a pending order

[Ben]

Hello Folks and Gurus of all kind,

Here are the elements to use for figuring out this problem.

Working on an EA

30 minute timeframe

An ATR(20), (calculated on 20 bars)

For grins and giggles, we will create a sell market order within the 05.30hr

According to MQL, at this present time, this 05.30hr bar is considered as ATR[0]

The bar prior to it, 05.00hr, is ATR[1]

The ATR value for the 05.00hr bar is 40.

Immediately upon execution of the sell market order within the 05.30hr bar, we will put on a pending oder to sell at half the ATR value of bar '1' (20 pips)

Sell price 1.33333. The pending price will be 1.33353

The problem is later in time, for instance, 07.30hr, the price has moved so as to execute the pending order 1.33353

The program should be coded so that another pending sell order will be launched at a 20 pip distance, (1.33373). BUT the ATR value for the 07.00 hr bar, which is now ATR[1] has a value of 60. The 05.00hr bar has incremented to ATR[5]

The program should have this same ordering sequence. The sequence of createing pending sell orders at a 20 pip distance, as long as the price trends in a favorable direction. All orders will have the same size.

I am not concerned with the stop

Trend reversal will pull out all positions

Cheers

Huckleberry

[William Roeder]

The ATR value for the 05.00hr bar is 40.

Immediately upon execution of the sell market order within the 05.30hr bar, we will put on a pending oder to sell at half the ATR value of bar '1' (20 pips)

Sell price 1.33333. The pending price will be 1.33353

A point is not a pip on a five digit broker. A pip is 10 points.

The ATR value is 40 points (4 pips)

The pending price 1.33353 is 2 pips (20 points) above 1.33333

Most brokers won't allow placing pending orders closer than 3 pips from current: MarketInfo( Symbol(), MODE_STOPLEVEL )*Point

//++++ These are adjusted for 5 digit brokers.
double  pips2points,    // slippage  3 pips    3=points    30=points
        pips2dbl;       // Stoploss 15 pips    0.0015      0.00150
int     Digits.pips;    // DoubleToStr(dbl/pips2dbl, Digits.pips)
int init() {
    if (Digits == 5 || Digits == 3) {   // Adjust for five (5) digit brokers.
                pips2dbl    = Point*10; pips2points = 10;   Digits.pips = 1;
    } else {    pips2dbl    = Point;    pips2points =  1;   Digits.pips = 0;
    }

[Ben]

WHRoeder wrote >>

A point is not a pip on a five digit broker. A pip is 10 points.

The ATR value is 40 points (4 pips)

The pending price 1.33353 is 2 pips (20 points) above 1.33333

Most brokers won't allow placing pending orders closer than 3 pips from current: MarketInfo( Symbol(), MODE_STOPLEVEL )*Point

WHRoeder

Your prompt reply is appreciated fully. There is so much more to learn.

The mentioning of the difference in points and pips helps in flattening my learning curve.

I will breakdown your solution line by line and put it to use.

Thank you again so much.

Cheers

Huckleberry

[Ben]

Huckleberry wrote >>

WHRoeder

Your prompt reply is appreciated fully. There is so much more to learn.

The mentioning of the difference in points and pips helps in flattening my learning curve.

I will breakdown your solution line by line and put it to use.

Thank you again so much.

Cheers

Huckleberry

Hello WHRoeder

Ok I see the error on my part. The pending price should be showing 1.33533. I am dealing srictly with pips.

Also in my rush in typing out the original problem, I used 'sell' intead of 'buy'.

Please excuse my faults due to my haste.

I will rewrite the problem and insert SRC.

Have a good weekend.

Huckleberry