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Outside Bar Strategy

This strategy trades breakouts of outside bars. A bullish outside bar occurs when the current candle's high is above the previous high and its low is below the previous low. Orders are placed inside the bar with optional partial profit taking and breakeven stop movement.

Details

  • Entry Criteria: Outside bar with bullish or bearish classification.
  • Long/Short: Both.
  • Exit Criteria: Stop loss or take profit derived from bar range.
  • Stops: Yes.
  • Default Values:
    • CandleType = 5 minute
    • EntryPercentage = 0.5
    • TpPercentage = 1
    • PartialRR = 1
    • PartialExitPercent = 0.5
    • StopLossOffset = 10
  • Filters:
    • Category: Pattern
    • Direction: Both
    • Indicators: Candlestick
    • Stops: Yes
    • Complexity: Intermediate
    • Timeframe: Intraday
    • Seasonality: No
    • Neural networks: No
    • Divergence: No
    • Risk level: Medium
using System;

using Ecng.Common;

using StockSharp.Algo.Indicators;
using StockSharp.Algo.Strategies;
using StockSharp.Messages;

namespace StockSharp.Samples.Strategies;

public class OutsideBarStrategy : Strategy
{
	private readonly StrategyParam<DataType> _candleType;

	private decimal _prevHigh;
	private decimal _prevLow;
	private bool _hasPrev;

	public DataType CandleType { get => _candleType.Value; set => _candleType.Value = value; }

	public OutsideBarStrategy()
	{
		_candleType = Param(nameof(CandleType), TimeSpan.FromMinutes(5).TimeFrame());
	}

	/// <inheritdoc />
	protected override void OnReseted()
	{
		base.OnReseted();
		_prevHigh = 0;
		_prevLow = 0;
		_hasPrev = false;
	}

	/// <inheritdoc />
	protected override void OnStarted2(DateTime time)
	{
		base.OnStarted2(time);

		_prevHigh = 0;
		_prevLow = 0;
		_hasPrev = false;

		var sma = new SimpleMovingAverage { Length = 20 };
		var lastSignal = DateTimeOffset.MinValue;
		var cooldown = TimeSpan.FromMinutes(360);

		var subscription = SubscribeCandles(CandleType);
		subscription
			.Bind(sma, (candle, smaVal) =>
			{
				if (candle.State != CandleStates.Finished)
					return;

				if (!sma.IsFormed)
					return;

				if (!_hasPrev)
				{
					_prevHigh = candle.HighPrice;
					_prevLow = candle.LowPrice;
					_hasPrev = true;
					return;
				}

				var isOutsideBar = candle.HighPrice > _prevHigh && candle.LowPrice < _prevLow;

				if (isOutsideBar && candle.OpenTime - lastSignal >= cooldown)
				{
					var isBullish = candle.ClosePrice > candle.OpenPrice;

					if (isBullish && candle.ClosePrice > smaVal && Position <= 0)
					{
						BuyMarket();
						lastSignal = candle.OpenTime;
					}
					else if (!isBullish && candle.ClosePrice < smaVal && Position >= 0)
					{
						SellMarket();
						lastSignal = candle.OpenTime;
					}
				}

				_prevHigh = candle.HighPrice;
				_prevLow = candle.LowPrice;
			})
			.Start();

		var area = CreateChartArea();
		if (area != null)
		{
			DrawCandles(area, subscription);
			DrawIndicator(area, sma);
			DrawOwnTrades(area);
		}
	}
}