Risk Management Strategy

The link you provided is the exact same video I linked. The only difference is that I linked to the post on this website that hosts that video.

1. Correct, first entry signal is taken. Any subsequent entry signals are ignored until an exit or a reversal order occurs.

2. If you need to go back further than 4 days of historical data you will need to do so using some other platform.

3. You can not turn on autotrader. Because there is no autotrader in Thinkorswim. To learn more about the limited auto trade functions that are supported be sure to view this video: https://www.hahn-tech.com/thinkorswim-autotrade-almost/

4. You can add alerts to the strategy. But the alerts will be based on the all entries and exits in your algorithm. The alerts will not be perfectly aligned with the theoretical orders displayed by your strategy. See response to question 3.

I did not see any code attached to your last response. Platforms I think you should research are Amibroker, TradeStation and NinjaTrader.

Text alerts may not even be possible using an ichimoku on a 1 min time frame. Depends on your settings. As to why they CAN NOT be matched to theoretical orders, sufficient details have already been given.

Nope, still didn’t get any code. But that is of little consequence since at this point it is pretty clear you will need to move to another platform to achieve your goals.

My first thought is that we have already done this: https://www.hahn-tech.com/thinkorswim-scan-ichimoku/

Please review that video and let me know if that solves your question.

Hey Pete,

For the following Autobuy,
AddOrder(OrderType.BUY_AUTO, longEntry and low > parSAR and open[-1] > parSAR, open[-1], tradeSize, Color.BLUE, Color.LIGHT_GREEN);
I understand I can write ”plot scan = longEntry” to perform the scan for bullish break with confirmation.
However, I was trying to write the following ”plot scan = longEntry and low > parSAR and open[-1] > parSAR” & the code is coming back as invalid.

I FIGURED IT OUT! YAY!!!! Oddly off by a few minutes on a few signals, but it works for me.

Nice. Glad you got it working. I’ve been working non-stop on a strategy for a client and my brain doesn’t want to see another Parabolic SAR, ever. It’s not easy to wrap your brain around.

Quick question when you have time, I’m trying to set up a scan/text message alert using the Ichi/SAR strategy on my /ES only watchlist on a 1min time frame but I haven’t received a single alert.

Does this make any sense to you?

The strategy plots out fine.
I’ve tried the following in the scan tab:
”When scan ’is true’”
”When scan ’is greater’ than value:zero”

while Scanned in my ”/ES” watchlist that is made up of the current contract.

No luck….

There are a lot of things to check. Have you watched our video titled ”Thinkorswim Overnight Range Scan Alert” ? https://www.hahn-tech.com/thinkorswim-overnight-range-scan-alert/
This video will cover all the details that do not pertain directly to the code you are using now. But it will at lease ensure you have all the platform settings adjusted correctly in order to achieve text notifications from a saved custom scan. Once you can verify all the settings are correct, we can focus on the code itself.

Hey Pete,
I got it working!
No idea what was wrong but I did change the scan setting from ”within number of bars from 1 to 5” & adding ALERT coding into my study.

Hi again Pete,
I was trying to AutoTrade my exits & I’m receiving the following message ”rec usage is not allowed in this context”. Have you seen this before? Does this mean I can’t AutoTrade my Ichi confirmation strategy?

If I recall correctly, you are using a Parabolic SAR for the exits. This indicator is not compatible with the Conditional Order or the Study Alert. You can use the Conditional Orders to get you into new positions. But once a position has opened, you will have to manually enter a stop loss order and trail it using the value of the Parabolic SAR of the previous bar.

Hey Pete,
Can I use an Ichimoku Confirmation for my exits as shown below? Also, are you saying that I can use Parabolic SAR for my entries but not my exits because I am able to plots my long/short entries in study alerts? However, I just run into this error ””rec usage is not allowed in this context”” when entering my long/short entries in orders. See below for strategy coding I’m referring to.

LONG ENTRY
AddOrder(OrderType.BUY_AUTO, longEntry and low > parSAR and open[-1] > parSAR, open[-1], tradeSize, Color.BLUE, Color.LIGHT_GREEN);

LONG EXIT
def longExit = shortBreakConfirmed[-1];
AddOrder(OrderType.SELL_TO_CLOSE, longExit[-1], Min(open, parSAR[0]), tradeSize, Color.PINK, Color.PINK);

You cannot use the Parabolic SAR (parSAR) for any conditional order.

Thanks for clarifying.
What about Ichimoku Cloud Break that requires confirmation?
I’m getting the same response ”rec usage is not allowed in this context”.

Also, Can you explain in non-math terms why the Parabolic SAR won’t work but a moving average crossover will?
I’m assuming it has something to do with recursions, which I don’t quite understand.

On the thinkorswim website, it mentions that ”def variables cannot be recursive”. Is there any way to write the defined variables in a way that calls upon itself/not recursive?
http://tlc.thinkorswim.com/center/howToTos/thinkManual/Trade/Order-Entry-Tools/conditionalorders.html

If you strip out the entire section that contains the Parabolic SAR and leave only the Ichimoku code in place, the conditional order should accept that. We provided an example of this here: https://www.hahn-tech.com/thinkorswim-autotrade-almost/

Recursion, is when a variable must read a previous value of itself in order to calculate it’s current value.

Thanks again Pete! I was able to create my exit order w/o an error message.

Hi Pete,

I was wondering if you can translate the coding below into English for me so I know I understand.

def longExit = shortBreakConfirmed[-18];
def shortExit = longBreakConfirmed[-18];

AddOrder(OrderType.BUY_TO_OPEN, shortExit[-1], Min(open, open), tradeSize, Color.PINK, Color.PINK);

AddOrder(OrderType.SELL_TO_CLOSE, longExit[-1], Min(open, open), tradeSize, Color.PINK, Color.GREEN);

AddOrder(OrderType.SELL_TO_OPEN, longExit[-1], Max(open, open), tradeSize, Color.BLUE, Color.LIGHT_GREEN);

AddOrder(OrderType.BUY_TO_CLOSE, shortExit[-1], Max(open, open), tradeSize, Color.BLUE, Color.PINK);

Also, have you already covered the regenerating conditional orders? You mentioned the following on YouTube.

”1. There is an option you can check that will cause the conditional order to automatically regenerate after it is triggered. We do plan to cover this in a follow up video. If you attempt to do this I advise extreme caution and that you practice for a long time with PaperMoney before trying this with live money.
2. I’ll try to remember to cover this in the follow up video. It’s a great question.”

In regards to regenerating conditional orders. Unfortunately it has been confirmed this is actually not possible. The setting they provide on the conditional order is completely non-functional. You can read more about it here in this post: https://www.hahn-tech.com/ans/auto-trade-almost-and-automatically-regenerate-open-and-exit-orders/

Scroll down to the posts from April 12th, 2017.

As to the english translation of the code you posted. There is not really enough there to explain much. You have shifted the shortBreakConfirmed and longBreakConfirmed 18 bars into the future. I have no clue why you did that. You will get results that can never be replicated in live trading. And for each of the orders your entry price makes no sense at all. The Min of open or open is the same saying open. And instead of four AddOrder statements you can accomplish the very same result with two if you set the BUY_TO_OPEN to BUY_AUTO and likewise for the SELL_TO_OPEN. Given what I have seen here I am guessing you need a professional to review your code and make many corrections. This is way beyond the scope of anything we would cover in the Q&A forum.

Thanks Pete for clearing things up. At first I thought ”this can’t be replicated in real time”, but when I saw it plotted in the strategy I thought ThinkOrSwim certainly wouldn’t allow a way to make strategy results perform better actually possible & ThinkOrSwim is translating in way that I possibly don’t understand.

Your video ”Thinkorswim Strategy Guide MTF” is also a compliment to shortfalls found in strategies.

It absolutely is possible to write a strategy that cannot be replicated in real time. I see them all the time. Thinkorswim has no protections against it. That is up to each individual. Strategies are very complex pieces of code. Be sure to read my answer to the following post for more details: https://www.hahn-tech.com/ans/parablic-sar-signal-not-firing-in-tos-strategy/