[EquisMetaStock Group] Backtesting Profit Targets

[Kevin Barry <kevin_barry@xxxxxxxxxxxxx>]

Hello,

I would appreciate any input on backtesting specific profit target levels.

I want to enter my trade, long or short, at a pivot level. As well as the 
Pivot Point, S1, S2, S3, R1, S2 and S3, there are also the midpoints to 
consider which gives us up to 13 price levels.

I want to determine what the optimum price objective are for trades taken 
on, or near, these levels. For example, for a trade entered on a signal at 
S2, is it more profitable to aim for S1 or the Pivot or one of the midpoints?

I would like to find a tidy way of coding this. It is necessary to store 
the trade entry price and compare it to the exit price. When attempting to 
use all possible combinations of pivot levels longhand, I run out of space 
in the formula. I have got a separate test for each level long/short, a 
maximum of 26 system tests, which is far from ideal. Also, I would really 
like to set up a backtest that would allow me to optimise the number of 
levels as my target, e.g. is it best to aim for 2,3,4,? levels. For 
example, if entering a trade, is it better to aim for the S1/S2 midpoint, 
S1, the Pivot/S1 midpoint, etc?

Any advice on a more elegant way of achieving this would be appreciated.

Thanks in advance.

Regards,
Kevin



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