Support Board
Date/Time: Fri, 18 Apr 2025 04:20:12 +0000
Post From: A trailing short or long position strategy trigger
| [2025-03-25 20:23:34] |
| User580028 - Posts: 15 |
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As a scalper targeting 2-3 point moves with typically 5-minute max trade durations, I need a specialized order type. Here's the systematic flow of the order I'm trying to create: 1. TRIGGER CONDITION: - When price reaches a specific level (example: S&P moves from $5,000 to $5,050) - Instead of executing immediately, this triggers a trailing order 2. TRAILING ENTRY MECHANISM: - The triggered order trails the price by a specified number of ticks (e.g., 5 ticks) - If price continues upward beyond my trigger (e.g., to $5,070), the trailing order follows - When price eventually pulls back, the trailing order stops at its current level - If price pulls back enough to hit this level, it executes my short position 3. AUTOMATIC RISK MANAGEMENT: - Upon position entry, pre-configured stop loss and take profit orders activate automatically - These orders are already set with their respective deviation levels from entry price 4. TRAILING TAKE PROFIT: - Rather than closing at a fixed take profit level, the take profit becomes a trailing order - If price hits my take profit, it begins trailing the price as it continues in my favor - When price eventually reverses, the trailing take profit executes, capturing additional profit To make it clear guys, I've tried multiple different setups in Sierra Chart. I am currently using it to trade, but for the life of me, I can't figure this out. It's a little bit more complicated than I anticipated. The closest thing I've come to this is a chase order. And even then, it only functions if you immediately get in the market. So basically, it chases the price up but doesn't allow you to set where you want it to trigger. You click it and it immediately starts to chase the market or trail the market. That's the closest I've gotten to this. I need it to be where I could place an order on the chart. Like, if I'm analyzing the chart and I see where there could be a pullback, I could put a short there (or it could be a long position, it doesn't matter). And when it engages, it immediately trails the market, whether it be a short position or a long position. That's the issue. Is this type of order configuration possible in Sierra Charts? If not natively available, could it be custom coded? This setup has been crucial to my scalping strategy, and I'm hoping to implement it in my futures trading. Thanks again, Please provide a concise yes or no answer regarding the availability of this feature within the order types and attached orders sections of your platform. I am a subscriber to your charting service and require this information to determine if I should continue my subscription. A video demonstrating the issue is attached for your review. Here's a video link of what I want https://youtu.be/gVg0VEAP93s?si=s_RNXg5bS0AodhBk Date Time Of Last Edit: 2025-03-26 17:44:06
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 Trailing Buy Orders_ how to trade buying at the best price _.mp4 - Attached On 2025-03-26 17:43:44 UTC - Size: 8.5 MB - 19 views |