How do you apply percentage as an indicator to fill an order?

Hi Venturie,

If you set resolution as daily, you could compare today's close with yesterday close and buy when market open next day.

class DowTrading(QCAlgorithm):

    def Initialize(self):
    
    	  percentage_from_prev_day = 0.2
    	  self.SetStartDate(2021, 3, 12)  # Set Start Date
          self.SetCash(10000)  # Set Strategy Cash
    	  self.AddEquity("SPY",Resolution.Daily)
    	  yesterday_price = None
    	  
    def OnData(self,data):
        if not yesterday_price: #needs to run after the first day 
        	return 
        
        if data["SPY"].Close < yesterday_price*(1-percentage_from_prev_day) #dropped 20 percentage from yesterday close
              self.SetHoldings("SPY", 1) 
        	
    	yesterday_price = data["SPY"].Close

Note that above should run once a day at 00:00 hours

First price at Day 1  

second price at Day 2 (there was a drop ). You set the buy signal

BTW, welcome to the community I am kind of new too :). If you are not doing so, use the debugger as much as you can. It has saved me many times when I was stuck. in the observe variables you can evaluate any expression you want. you can see what time is it with self.UtcTime, or just check your logic. 

Regards,

Dario

Hey Dario,

Thanks for your response. I'll try to incorporate that into what I have. As a fellow newbie, best of luck to you!

Hi Veturie Tertulien,
Thank you, Dario, for your response.
As mentioned above, we want to check for the signals during market hours. So we cannot use daily resolution. We can keep universe resolution to Hour or Minute and create an SMA indicator with period one and daily resolution to keep track of the close of previous days close. Refer to the attached backtest.
Best,
Varad Kabade