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Date/Time: Sat, 11 Jan 2025 14:43:15 +0000
Post From: Study Trading: Triggered Limit Order Entry
| [2016-08-12 18:29:19] |
| User295967 - Posts: 32 |
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I am sorry if I was not clear. Executing an OCO order as limit order with a negative offset is standard supported in Ninjatrader, so it may make sense to some trading strategies. I do not defend Ninjatrader nor want to start any comparison - the reason I am here at Sierra says enough. In my scalping case the market need to be entered at a certain level, but only if another level has been met before. It all comes down to entering the market at a better position when certain conditions are met. So e.g. I only want to go long at price 10, but only after market touched price level 11 (Try to see it as a kind of pullback). In order to avoid human errors the process need to be automated at DOM level. I also see at Sierra help function the following tekst under the study Triggered Limit Order Entry Study: Order Lines 1.Trigger Line: The price to which price must reach in order for an entry order to be placed. 2.Order Line: The price at which the order will be placed once the Trigger Line is reached. That si the logic I am looking for. But what is the rationale that this study does not work on the Sierra DOM? I also read in the forum in the thread called Stop Limit with Negative Offset (01-22-2011 start) that a user called Kiwi states: Sierra does support stop limits with negative offsets. Kiwi states that if yu trigger your entry based on price passing a point; if you know that X% of times price will retrace Y points; then you can Judge if the price improvement outweights the trades missed and use a negative stop limit offset to get the correct entry price. Perhaps Kiwi's wordings make my intentions more clear. I made video on Youtube showing the Ninja DOM reflecting my requirement. When you see this you better understand what I would like to schieve in SIerra. A Stop Limit Order is placed at price 1227,7 with mouseclick anticipating market going short. At second 29 price level 1227,7 is hit and a Limit order is placed automatically at 1227,8. At second 34 market gets back and the limit order at 1227,8 is executed resulting in an OCO to exchange with 2 targets adn one Stoploss. Here link https://youtu.be/4EVGTi5nEaE Date Time Of Last Edit: 2016-08-12 20:26:34
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