Support Board
Date/Time: Wed, 15 Jan 2025 18:53:14 +0000
Using limit orders for Buy Exit and Sell Exits
View Count: 1345
| [2017-08-18 16:05:57] |
| User606491 - Posts: 164 |
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I'm trying to understand how the Spreadsheet System for Trading works when using limit orders for Buy Exit and Sell Exits. The documentation isn't very clear here: Here's the scenario: For Buy Exit: -If id0.sg4@3 < Bollinger Midline --> Set Limit at Bollinger Midline -If id0.sg4@3 > Bollinger Midline --> Set Limit at Bollinger High Goal: -I want SC to set a Limit order to exit based on proximity to a Bolinger, recognizing that both price and the Bolinger band change in value. Two questions arise: - Because I'm using current price (id0.sg4@3) and the current value for the each respective Bollinger line (@3), the value of both price and the Bollinger are constantly changing. Hhow does SC handle ever changing limit orders? When is an order sent for execution? - Similarly, if Current Price > Bolinger Midline (hence target is Limit at Bollinger High), BUT dips below the Bollinger Midline, will Sierra Chart change the Buy Exit order to Limit at Bollinger Midline? (if so, what is the lag here?) |
| [2017-08-18 16:50:56] |
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When using a Limit order for an Exit, the Limit order is not actually sent until the exit cell becomes TRUE/1. will Sierra Chart change the Buy Exit order to Limit at Bollinger Midline? (if so, what is the lag here?) This is not relevant based on the above.
Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing |
| [2017-08-18 17:22:33] |
| User606491 - Posts: 164 |
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To make sure I completely understand: IF the limit order is not actually sent until the exit cell becomes TRUE/1: Then: 1 the limit order will be based on the Bollinger midline or high-line at the time when the exit cell becomes true (at t=0) 2 the limit order will not change at any point thereafter (despite the fact that the value in J23 is constantly changing) If #2 is accurate, where can I find the Limit price that SC sends for execution? Will that be in my Trade Orders and Positions window? Also, if I want to enter my Buy Exit order immediately upon entering a trade, then would I just use $j$8>0 in the Buy Exit column and my Limit formula in J23? Would this immediately set my limit order based on current Bolinger values?> |
| [2017-08-22 05:39:52] |
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You control the limit order price. Refer to: Spreadsheet Systems, Alerts and Automated Trading: Limit or Stop Prices [J22, J23, J24, J25] Also, if I want to enter my Buy Exit order immediately upon entering a trade, then would I just use $j$8>0 in the Buy Exit column and my Limit formula in J23? Yes, you can do it this way.
Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing |
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