The script is associated with trading in accordance with the ACD system. It helps to determine when to open or close a position, using the specified price levels as a guideline, if several securities are being traded, without constantly observing the price chart on the monitor.
You should fill in the text file with the low and high price level 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 the low and high price levels in ticks, separated by a semicolon. First they must all be zero. 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 low and high price levels for each security from the list.
Now I will describe how you can use this script. Suppose the opening range is 20 minutes. When about 20 minutes have passed since the beginning of the trading day, I look at the chart of each security I am interested in and put a low and / or high level in the file (instead of zero values), which may be slightly outside the opening range or correspond to Point A . If the market breaks through the level, a beep sounds and a message is displayed which security it refers to. Therefore, I do not have to constantly look at the price chart to keep track of when to open a position. As soon as I hear a beep, I look at the trading terminal, see a message and thus know what security this refers to. Then I look at the price chart for this security to evaluate what has happened, and begin to monitor it.
The file is constantly open, and low and high levels can be changed online. For example, after opening a long position, I can change the high level to a value corresponding to strong resistance, when the exit is justified. If the market reaches this price level, a beep sounds and I look again at the price chart and take a decision. I can also change the low level when I need to exit and in case of adverse movement.
The script helps me because I trade few securities. But what if the number of securities traded is large? In this case it is better to use another script named Points A and C script.