Support Board
Date/Time: Wed, 05 Mar 2025 19:45:02 +0000
Is there a way to have a stop limit order...
View Count: 1360
[2022-01-14 22:21:17] |
User414533 - Posts: 106 |
...place a limit one tick behind the stop when triggered? For example: My stop limit line is one tick above a candle top. When price triggers the stop, a limit order is placed one tick below, resting on the top of the candle. Thanks. |
[2022-01-16 20:05:38] |
Mercrastius - Posts: 45 |
I only use the chart for order entry, never the DOM. Here's how I do it: The order type you want is called Triggered Limit (Auto-Set). Order Types: Triggered Limit I added the Buy Triggered Limit (auto-set) AND the Sell Triggered Limit (auto-set) to my Chart Trade Menu. (Global settings > customize chart trade menu). I set the Trig Limit Offset (Ticks) amount to -1 on the Trade Window Set tab for the chart. Basic Trading and the Trade Window: Set >> Stop-Limit Order Limit Offset (In this image the Trig Limit Offset (Ticks) isn't shown - it was just below Move to BE Offset in my version of SC. To send a buy order I right-click well above the current price on the chart, which brings up my chart trade menu, then click Buy Triggered Limit (Auto-Set). The order is sent to the price level where my cursor was - I then move the trigger order line on my chart down to one tick above the desired candle. (You can also just right-click on the desired price from the jump, but I find it's easier to be precise with the extra step of submitting then dragging into place.) I click below current price and drag up for a triggered sell limit. Same idea. Note: There are TWO order lines on the chart until the trigger is hit - one is the trigger and the other is where the limit will be sent. And since they're only 1 tick apart it looks odd at first. * I believe there's also a way to use a Stop-Limit order to do the same thing, also setting the offset to -1. However the appearance of the order line on the chart isn't great - there's no visual order line showing the limit price after the order is triggered. |
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