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Lower Your Risk by Avoiding Large Spreads – DAS Trader Pro



The script(s) featured in this episode are provided below for educational and reference purposes. Trading stocks, options, futures, and other financial instruments involves substantial risk of loss and is not suitable for all investors. You may lose some or all of your invested capital. Always review and thoroughly test any code in a simulator before using it in a live trading environment.

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OBJECT_INIT_TRADE
This script is from a previous episode. Changes have been marked in the file so you can follow what was adjusted in this episode.

//OBJECT_INIT_TRADE
if (GetVar("$TRADE")==0) $TRADE=0;
if (!IsObj($TRADE)) $TRADE = newUserObj();
$TRADE.DAILYEMA200 = 0;
$TRADE.DAILYEMA200_LAST = 0;
$TRADE.DAILYSMA200 = 0;
$TRADE.DAILYSMA200_LAST = 0;
$TRADE.TIME_ON_TICKER = 0;
$TRADE.CHART_LAST_SYMB = "";
$TRADE.LAST_PL = 1234;
$TRADE.LAST_SHARES = 0;
$TRADE.LAST_GAIN_LOSS = 0;
$TRADE.LAST_AVERAGE = 0;
$TRADE.LAST_PER_SHARE = 0;
$TRADE.BUY_AT_TARGET = 0;
$TRADE.BUY_SPREAD = 0.10;
$TRADE.ALLOW_AVERAGE_DOWN = 0;
$TRADE.MAX_LOSS_PER_TICKER = -50;
$TRADE.TIMER_RUNNNING = 1;
$TRADE.TRAILING_PROFIT_PRICE = 0;
$TRADE.TRAILING_PROFIT_SPREAD = 0.10;
$TRADE.TRAILING_AUTO_AMOUNT = 0.10;
$TRADE.TRAILING_AUTO_ON_OFF = 0;

$TRADE.ALLOWED_SPREAD = 0.20;//+ ADDED THIS LINE

ExecHotkey("OBJECT_INIT_TRACKING");
ExecHotkey("OBJECT_INIT_STOP");

BUTTON_ALLOWED_SPREAD
This script is from a previous episode. Changes have been marked in the file so you can follow what was adjusted in this episode.

//BUTTON_ALLOWED_SPREAD
if (IsObj($DASHBOARD.getCustButObj("allowed_spread"))){
    $DASHBOARD.getCustButObj("allowed_spread").Text = Round(Abs(Input("Allowed Spread", $DASHBOARD.getCustButObj("allowed_spread").Text)),2);
}

$TRADE.ALLOWED_SPREAD = $DASHBOARD.getCustButObj("allowed_spread").Text;

DASHBOARD
This script is from a previous episode. Changes have been marked in the file so you can follow what was adjusted in this episode.

//DASHBOARD
$DASHBOARD = GetWindowObj("DASHBOARD");
$TRADE.EMA20 = $chart_1m.getStudyVal("EMA20");
$TRADE.EMA50 = $chart_1m.getStudyVal("EMA50");
$TRADE.VWAP = $chart_1m.getStudyVal("VWAP");
$ACCOUNT=GetAccountObj($ACCOUNT_NUMBER);

//EMA200
if (IsObj($DASHBOARD.getCustButObj("EMA200"))){
    if ($bar0.Close < ($TRADE.DAILYEMA200 - 0.50)){
        $DASHBOARD.getCustButObj("EMA200").BkColor = Color("Green");
    } else if ($bar0.Close > ($TRADE.DAILYEMA200 - 0.25) && $bar0.Close < ($TRADE.DAILYEMA200 + 0.01)){
        $DASHBOARD.getCustButObj("EMA200").BkColor = Color("Red");
    } else if ($bar0.Close < $TRADE.DAILYEMA200){
        $DASHBOARD.getCustButObj("EMA200").BkColor = Color("Yellow");
    } else {
        $DASHBOARD.getCustButObj("EMA200").BkColor = Color("Green");
    }
    $DASHBOARD.getCustButObj("EMA200").Text = " " + Round($TRADE.DAILYEMA200,2);
}

//EMA20
if (IsObj($DASHBOARD.getCustButObj("EMA20"))){
    if ($bar0.Close > $TRADE.EMA20){
        $DASHBOARD.getCustButObj("EMA20").BkColor = Color("Green");
    } else if ($bar0.Close == $TRADE.EMA20){
        $DASHBOARD.getCustButObj("EMA20").BkColor = Color("Yellow");
    } else {
        $DASHBOARD.getCustButObj("EMA20").BkColor = Color("Red");
    }
    $DASHBOARD.getCustButObj("EMA20").Text = " " + Round($TRADE.EMA20,2);
}

//EMA50
if (IsObj($DASHBOARD.getCustButObj("EMA50"))){
    if ($bar0.Close > $TRADE.EMA50){
        $DASHBOARD.getCustButObj("EMA50").BkColor = Color("Green");
    } else if ($bar0.Close == $TRADE.EMA50){
        $DASHBOARD.getCustButObj("EMA50").BkColor = Color("Yellow");
    } else {
        $DASHBOARD.getCustButObj("EMA50").BkColor = Color("Red");
    }
    $DASHBOARD.getCustButObj("EMA50").Text = " " + Round($TRADE.EMA50,2);
}


//VWAP
if (IsObj($DASHBOARD.getCustButObj("VWAP"))){
    if ($bar0.Close > $TRADE.VWAP){
        $DASHBOARD.getCustButObj("VWAP").BkColor = Color("Green");
    } else if ($bar0.Close == $TRADE.VWAP){
        $DASHBOARD.getCustButObj("VWAP").BkColor = Color("Yellow");
    } else {
        $DASHBOARD.getCustButObj("VWAP").BkColor = Color("Red");
    }
    $DASHBOARD.getCustButObj("VWAP").Text = " " + Round($TRADE.VWAP,2);
}

//MACD
if (IsObj($ANALYZE_MACD)){
    if (IsObj($DASHBOARD.getCustButObj("MACD"))){
        if ($ANALYZE_MACD.LAST_MAC_OPEN == 1){
            //open
            $DASHBOARD.getCustButObj("MACD").BkColor = Color("Green");
            $DASHBOARD.getCustButObj("MACD").Text = " OPEN";
        } else {
            //closed
            $DASHBOARD.getCustButObj("MACD").BkColor = Color("Red");
            $DASHBOARD.getCustButObj("MACD").Text = " CLOSED";
        }
    }
}


//POSITION
if (IsObj($montage_window)){
    //check to see if in a LONG position
    if ($montage_window.POS > 0){


        if (IsObj($DASHBOARD.getCustButObj("POSITION"))){
            $DASHBOARD.getCustButObj("POSITION").BkColor = Color("Green");
            $DASHBOARD.getCustButObj("POSITION").Text = " " + $montage_window.POS;
        }

        $TRADE.PL_SHARE = $montage_window.BID - $montage_window.AVGCost;
        if (IsObj($DASHBOARD.getCustButObj("PL_SHARE"))){
            if ($TRADE.PL_SHARE > 0){
                $DASHBOARD.getCustButObj("PL_SHARE").BkColor = Color("Green");
                $DASHBOARD.getCustButObj("PL_SHARE").Text = " " + $TRADE.PL_SHARE;
            } else {
                $DASHBOARD.getCustButObj("PL_SHARE").BkColor = Color("Red");
                $DASHBOARD.getCustButObj("PL_SHARE").Text = " " + $TRADE.PL_SHARE;
            }
        }

    } else {
        if (IsObj($DASHBOARD.getCustButObj("POSITION"))){
            $DASHBOARD.getCustButObj("POSITION").BkColor = Color("Gray");
            $DASHBOARD.getCustButObj("POSITION").Text = " - ";
        }
        if (IsObj($DASHBOARD.getCustButObj("PL_SHARE"))){
            $DASHBOARD.getCustButObj("PL_SHARE").BkColor = Color("Gray");
            $DASHBOARD.getCustButObj("PL_SHARE").Text = " - ";
        }
    }
}

//ACCOUNT INFO
if (IsObj($DASHBOARD.getCustButObj("REALIZED"))){
    if (IsObj($ACCOUNT)){
        if ($ACCOUNT.Realized >= 0){
            $DASHBOARD.getCustButObj("REALIZED").BkColor = Color("Green");
            $DASHBOARD.getCustButObj("REALIZED").Text = " " + $ACCOUNT.Realized;
        } else {
            $DASHBOARD.getCustButObj("REALIZED").BkColor = Color("Red");
            $DASHBOARD.getCustButObj("REALIZED").Text = " " + $ACCOUNT.Realized;
        }
    }
}
if (IsObj($DASHBOARD.getCustButObj("UNREALIZED"))){
    if (IsObj($ACCOUNT)){
        if ($ACCOUNT.UnRealized >= 0){
            $DASHBOARD.getCustButObj("UNREALIZED").BkColor = Color("Green");
            $DASHBOARD.getCustButObj("UNREALIZED").Text = " " + $ACCOUNT.UnRealized;
        } else {
            $DASHBOARD.getCustButObj("UNREALIZED").BkColor = Color("Red");
            $DASHBOARD.getCustButObj("UNREALIZED").Text = " " + $ACCOUNT.UnRealized;
        }
    }
}

//+ ADDED THE FOLLOWING TICKER LINES
//Spread Check
if (IsObj($DASHBOARD.getCustButObj("spread_value"))){
    $DASHBOARD.getCustButObj("spread_value").Text = "  " + Round(($montage_window.ASK - $montage_window.BID),2);
}
if (IsObj($DASHBOARD.getCustButObj("allowed_spread"))){
    if ($TRADE.ALLOWED_SPREAD < ($montage_window.ASK - $montage_window.BID)){
            $DASHBOARD.getCustButObj("allowed_spread").BkColor = Color("Red");
            $DASHBOARD.getCustButObj("spread_value").BkColor = Color("Red");
    } else {
            $DASHBOARD.getCustButObj("allowed_spread").BkColor = Color("Green");
            $DASHBOARD.getCustButObj("spread_value").BkColor = Color("Green");
    }
}

BUY_BY_RULES
This script is from a previous episode. Changes have been marked in the file so you can follow what was adjusted in this episode.

//BUY_BY_RULES

$TRADE.OK_TO_BUY_THIS = 1;
$TRADE.STICK_TO_PLAN_TEXT = "";

//3 losses check
$tmp_var_name = "$loss" + $chart_1m.SYMBOL;
if (GetVar($tmp_var_name)==0) SetVar($tmp_var_name, 0);
$this_symbol_loss = GetVar($tmp_var_name);
if ($this_symbol_loss >= 3){
    $TRADE.OK_TO_BUY_THIS = 0;
    $TRADE.STICK_TO_PLAN_TEXT = $TRADE.STICK_TO_PLAN_TEXT + "," + $chart_1m.SYMBOL + " Losses 3";
}

//dont average down
if ($TRADE.ALLOW_AVERAGE_DOWN == 0){
    if ($montage_window.POS > 0){
        if ($montage_window.AVGCost > $montage_window.ASK){
            $TRADE.OK_TO_BUY_THIS = 0;
            $TRADE.STICK_TO_PLAN_TEXT = $TRADE.STICK_TO_PLAN_TEXT + "," + " No Average Down";
        }
    }
}

//limit number of trades
if ($TRADE.TRACKING.TRADES_TODAY >= 14){
    $TRADE.OK_TO_BUY_THIS = 0;
    $TRADE.STICK_TO_PLAN_TEXT = $TRADE.STICK_TO_PLAN_TEXT + "," + " Max Trades For Today";
}

//limit failed ticker max loss
if ($TRADE.MAX_LOSS_PER_TICKER >= GetAccountObj($ACCOUNT_NUMBER).GetPosition($chart_1m.SYMBOL).Realized){
    $TRADE.OK_TO_BUY_THIS = 0;
    $TRADE.STICK_TO_PLAN_TEXT = $TRADE.STICK_TO_PLAN_TEXT + "," + " Ticker " + $chart_1m.SYMBOL + " Max Loss " + GetAccountObj($ACCOUNT_NUMBER).GetPosition($chart_1m.SYMBOL).Realized + " / " + $TRADE.MAX_LOSS_PER_TICKER;
}

//+ ADDED THE FOLLOWING 4 LINES
if ($TRADE.ALLOWED_SPREAD < ($montage_window.ASK - $montage_window.BID)){
    $TRADE.OK_TO_BUY_THIS = 0;
    $TRADE.STICK_TO_PLAN_TEXT = $TRADE.STICK_TO_PLAN_TEXT + ", SPREAD RISK";

}


if ($TRADE.OK_TO_BUY_THIS == 1){
	//your buy script here
	ExecHotkey("BUY_ASK");
} else {
	Speak($TRADE.STICK_TO_PLAN_TEXT);//+ UPDATED THIS LINE
}
if ($TRADE.STICK_TO_PLAN_TEXT != ""){
    MsgLog($TRADE.STICK_TO_PLAN_TEXT);
}


Disclaimer: This is an independent project and is not affiliated with or endorsed by DASTrader.com.

The tool is currently under development and intended for educational and experimental purposes only, including improving the experience of working with DAS hotkey scripting (e.g., code validation, highlighting, and structure).

It does not execute trades, provide trading signals, or offer financial advice. Any scripts created or used with DAS Trader remain the sole responsibility of the user.

Trading involves significant risk. You are fully responsible for verifying all scripts, commands, and behavior before using them in a live trading environment.

This tool is provided “as-is” with no guarantees of accuracy, completeness, or reliability. Use at your own risk. Always test thoroughly in a simulator before live trading.


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Episode: Lower Your Risk by Avoiding Large Spreads – DAS Trader Pro

The DAS Trader Pro scripts, code examples, tools, and information provided on this website are offered solely for educational and informational purposes. Nothing on this website constitutes financial, investment, legal, tax, or trading advice.

Trading stocks, options, futures, and other financial instruments involves substantial risk of loss and is not suitable for all investors. You may lose some or all of your invested capital.

No representation or warranty is made regarding the accuracy, completeness, reliability, profitability, or suitability of any script, strategy, indicator, automation, workflow, or method presented on this website.

Execution behavior may vary based on broker, routing, market data, platform configuration, DAS Trader Pro version, account settings, market conditions, and other factors beyond the control of DayTradeCoder.

Past performance, examples, demonstrations, screenshots, or historical results are not indicative of future results and should not be relied upon as a guarantee of performance.

You are solely responsible for reviewing, understanding, testing, validating, and monitoring all code before use. All scripts should be thoroughly tested in a simulator or paper-trading environment prior to any live trading activity.

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