Support Board
Date/Time: Tue, 26 Nov 2024 00:45:37 +0000
Post From: Auto place stop loss based on the low/high of last X candles
| [2024-01-26 05:56:47] |
| user8222 - Posts: 21 |
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I trade divergences where my stop loss will be 1 tick below the low (for a long position) of the candle. You can look back say 5 candles, and my stop loss will always be 1 tick below the low of those candles. Is it possible for me to setup a command to buy and automatically place my attached order stop loss at that exact level? 1 tick below the recent low of the last X candles or X minutes. I could then see exactly what my risk is on the position as well, and decide how many contracts to purchase. Or even better if I could somehow calculate the risk in $ so that it detects the stop loss, and then buys the corresponding amount of contracts to closest match that stop loss. I.e. stop loss is detected as 1 tick below the low, buy order sends X contracts to have my risk be as close to $250 as possible. Whether that is 1, or 10 contracts, etc.
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