Support Board
Date/Time: Mon, 21 Apr 2025 16:10:11 +0000
In the Trade Window Targets - is it possible to have a dynamic TP and SL?
View Count: 103
| [2025-04-18 15:02:34] |
| User370531 - Posts: 63 |
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Rather than ticks, points, percentages away from opening price, I'm looking to have the offset be dynamically calculated based on ATR
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| [2025-04-18 15:52:11] |
| Sawtooth - Posts: 4209 |
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I'm looking to have the offset be dynamically calculated based on ATR
Use the Trade Management by Study study.Attached Orders: Study Controlled Targets and Stops |
| [2025-04-18 18:47:32] |
| User370531 - Posts: 63 |
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This looks like it would be useful for changing the TP/SL levels after they are first entered, but what I'm looking for is a set it and forget it type of TP/SL bracket order, except that it would be dynamically set at the beginning. The trade window targets only allows a fixed bracket order from what I cant tell.
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| [2025-04-18 19:06:15] |
| Sawtooth - Posts: 4209 |
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You would pick initial TP/SL levels in the Trade Window, and then the Trade Management by Study study would immediately move them to the ATR offsets. You would need two instances of the TMS study, referencing two instances of the Spreadsheet Formula study that calculates and outputs the offsets. So it would be set-and-forget. |
| [2025-04-18 19:20:58] |
| John - SC Support - Posts: 39378 |
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There is no option within the Trade Window to do what you are wanting. What Sawtooth suggests is the best option, unless you want to create a custom study. Another alternative is using the "Spreadsheet System for Trading", as you could set a "dynamic" target and stop, but then it would require that you initialize the trade from the spreadsheet itself. For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2025-04-18 20:39:27] |
| User370531 - Posts: 63 |
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I understand Sawtooth's suggested method and can implement it. However I'm curious about the alternative you suggested. I do actually initialize trades from the spreadsheet itself, but using the OCO brackets from the targets tab of the trading window. How would the dynamic target and stop be initialized from the spreadsheet itself? I'm only aware of the buy entry, sell entry, buy exit and sell exit conditions.
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| [2025-04-19 04:43:43] |
| Sawtooth - Posts: 4209 |
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How would the dynamic target and stop be initialized from the spreadsheet itself?
With formulas in cells J80/J81, that return the Attached Orders' TP/SL offsets in points.If the TP/SL offsets are static from the entry, you wouldn't need to use the Trade Management by Study study. |
| [2025-04-19 09:05:26] |
| User61168 - Posts: 441 |
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I use spreadsheet formula study for all my SL/TP/BE/Trailstops/timestop needs. Flatten via simple alert study when C=SL or C=TP. If you want SL/TP lines to show as a visual aid, you could also use chart drawing to move the SL and TP "lines" manually for exits directly on chart. |
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