The script facilitate trading using the ACD method. It helps you determine when to open or close a position using Points A and C as a guideline if you are trading a lot of securities, instead of constantly monitoring price charts on the monitor.
First you should fill in the text file with A and C values for each security that interests you, something like this:
Futures are indicated in the file by the first 2 characters (2 other characters associated with the expiration date are missing), and stocks by 4 characters. The symbol is followed by Points A and C values in ticks, separated by a semicolon. A trading table in which quotes are constantly updated must be open. The symbol in the file must be present in the trading table. The program constantly accesses the file and compares quotes with A and C values for each security from the list.
Important: The script must be launched at the very beginning of the trading day. Otherwise, the lower and upper limits of the opening range may not be correctly determined, which will lead to false signals. In the Quik platform, the script is launched automatically when the trading terminal starts.
Using a script is simple. Suppose the opening range is 20 minutes. Then you wait for the signal no earlier than 20 minutes from the start of the trading day. If the market breaks through the level corresponding to Point A or C, a beep sounds and a message is displayed which security it refers to. Thus, you do not need to constantly look at the price chart to keep track of when to open a position. As soon as you hear a beep, you look at the trading terminal, see a message and find out, thus, what security it refers to. Then you look at the price chart for this security to evaluate what happened, and begin to monitor it.