Tracking or Referencing A Weighted Averaged Position

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Hello,

Say I have multiple purchases of a stock over the day, at different prices and volumes. Can thinkscript strategies reference my weighted average position, as part of how it makes decisions for future entries/exits? (for example – averaging down)

Thanks!

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Posted by (Questions: 3, Answers: 4)
Asked on July 18, 2020 9:54 pm
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In Thinkorswim, chart strategies are for back testing purposes only. They cannot execute live orders. So trying to incorporate live trade positions with theoretical orders plotted on the chart is a dead end. Mixing reality with fantasy, I see no value in that even if it were possible.

Now if you were working on a platform that performed fully automated trading I can see how this might have a useful result.

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Posted by (Questions: 37, Answers: 4118)
Answered on July 19, 2020 8:52 am
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My question was not written clearly. I meant that a TOS strategy (backtesting) has had multiple entry points on a stock, due to whatever conditions are required to trigger the buying. Can a strategy like this review its own weighted average position over the given period as part of how it makes further triggers to buy (or sell)? As a simple theoretical example - a strategy triggers a buy when the last price hits a certain EMA. This strategy could have multiple entry points over time before a sell trigger, depending on what you make it. Can a sell trigger be scripted which would refer to the average price held at any given time - say 'sell when the average price exceeds 2% of the last price'? So the script bought a share at $2, then it bought again at $1.90, then it bought again at $1.80. The average price at this point is $1.90. Can the script keep track of a weighted average position over time like this as part of its strategy
( at July 19, 2020 4:46 pm)
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It may be possible. I have not had anyone request this before so I have not tried to seek a solution. The research alone would take well over an hour. I have 15 min to provide individual solutions in the Q&A forum. So this is not something I can address here. If it is possible, I think you asking a awful lot from the very simplistic scripting language used in Thinkorswim. Great idea, but it's foolish to try to make it to Mars using a hang glider.
( at July 19, 2020 5:57 pm)
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is there an alternative software you recommend for more advanced things like this?
( at July 19, 2020 8:08 pm)
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I have never attempted to include this type of functionality in a chart strategy. So I have nothing more to recommend. I would have to spend a considerable amount of time researching and testing before I could determine if this could be accomplished in TradeStation. Far beyond the scope of any solution I can provide in the Q&A forum.
( at July 20, 2020 10:15 am)
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