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pine-scriptalgorithmic-trading

how to refer to previous entry price stored in temp variable in pinescript?

I have some basic MA cross strategy indicator and I would like to implement better strategy, to sell only when price is higher than was bought before, but I am not sure how to do it in PINE syntax, any idea pls ?

Here is simple code, working fine this one, it open LONG or close LONG depends on cross MA :

// Strategy functions

if (crossover(outShort,outLong)) 
    strategy.entry(id="Long", long=strategy.long)

if (crossunder(outShort,outLong)) 
    strategy.close(id="Long")

And here is my problematic code, I would like to implement to sell only when price is higher than was bought before, so I added condition to check new price price < close , but not sure how to write in Pine syntax

// Strategy implemented - but with errors
var entryprice = 0

if (crossover(outShort,outLong)) 
    entryprice := close
    strategy.entry(id="Long", long=strategy.long)


if (crossunder(outShort,outLong)) and ( entryprice < close )
    strategy.close(id="Long")

Here is screenshot, logic still not works as expected, if condition entryprice < close not works

enter image description here

Excelent, By the way do you know why my initial_capital value =1000 defined in strategy not correspond to the profit ? even if I change the capital number, profit show still same results.

//@version=4
strategy(title="My_MA_strategy", shorttitle="MyMA Strategy_0.04", format=format.price,  initial_capital=1000, overlay=true)

E.g. 1st trade show profit $154, even there is only 0,26% profit ( from 1000 capital not possible) Percentage shows OK, but profit not.

enter image description here

Tried to change Market tpe , but no progress here, still show same profit

MarektType

enter image description here

Solution

  • Use:

    var float price = 0.0

    or

    var float price = 0

    or

    var price = 0.

    so that your variable is declared as type "float". The first, more explicit form is preferable because it declares your intent more clearly.

    [EDIT 2021.05.06 10:34 — LucF]

    The if block for entries should be entered only once, when there is no position, otherwise its condition can be true multiple times during a trade, and entryprice will change each time, which you do not want.

    Use:

    if (crossover(outShort,outLong)) and strategy.position_size == 0