Support Board
Date/Time: Mon, 21 Apr 2025 23:36:06 +0000
[User Discussion] - Order Entry - Limit Order at Close of Last Candle?
View Count: 1862
| [2022-01-27 03:16:35] |
| absorrel4 - Posts: 100 |
|
I am working with 10 second candles on the Mini NQ. Relatively fast moving and not a lot of time to place orders. I am currently using a SC Buy and Sell button on the toolbar which is nothing more that a one click limit order (buy or sell) and then the attached orders kick in when the order is filled. Below is how I am currently entering the orders via the SC one click limit order button followed by what I would like to accomplish. Current One Click Limit Order Entry: My buy or sell signal comes at the close of the 10 second candle....I must wait for the completion of that candle for signal confirmation. I then enter a limit order via the one click SC buy/sell button once the following candle begins (i.e., my signal candle has given me a buy or sell set up and I enter the order as soon as the next candle starts). I want my order to be filled at the signal candle (i.e., precious candle) closing price or better. With the volatility and short timeframe nature of 10 second candles, sometimes my limit order gets filled at the signal candle closing price...sometimes at a better price...sometimes at a worse price...sometimes not filled at all. What I Would Like To Accomplish: Is there a way to do the following?? Once my buy or sell signal candle completes, and immediately upon the start of the following candle, I would like a one click buy or sell limit order which AUTOMATICALLY places the order at the signal candle's (i.e., previous candle) closing price. That way, if my order is filled it will be at the previous candle (signal candle) closing price or better. If the price moves quickly away without filling my limit order, I could simply cancel the order via the chart trading/attached orders method as I currently do. Is there a way to accomplish this? Do I need a special custom "study" written that will automatically place the order at the previous candle closing price? Thanks... |
| [2023-02-14 21:05:31] |
| User566250 - Posts: 37 |
|
Hello, I have a similar question and am curious if there is a simple solution to accomplish what absorrel4 was trying to do above. Setting offset in ticks for the limit orders would be a great addition as well. Thank you for your consideration. Date Time Of Last Edit: 2023-02-14 21:05:58
|
| [2023-02-14 22:51:43] |
| Sawtooth - Posts: 4209 |
|
Do I need a special custom "study" written that will automatically place the order at the previous candle closing price?
It could be done with the Spreadsheet System for Trading study.Cells K3/M3 formulas return the signal. If required, you can use cells O3 to Z3 for intermediate calculations. Cells J22/J24 formulas return the Limit order price. Reference row 4 for close of signal bar: =E4 For a 2 tick offset above the High: =C4+J21*2 Cells J71/J73 are set to L for Limit entry orders. |
| [2023-02-14 23:50:28] |
| ondafringe - Posts: 322 |
|
If you know how to code, it can certainly be accomplished with a custom study. But it can also be accomplished by entering your orders from the DOM. File > Open Trading DOM for Chart On the DOM: Trade > Chart DOM Settings > Order Types Or if you don't want the DOM in a separate window, and want it on the edge of your chart: Trade > Trading Chart DOM On Trade > Chart DOM Settings > Order Types Date Time Of Last Edit: 2023-02-15 01:28:47
|
| [2023-02-16 17:14:37] |
| User566250 - Posts: 37 |
|
Thank you for responding to my post. I have done some Easylanguage programming but have not yet been able to do much on SC. Wish there was already a study for this since it would probably aid a lot of discretionary traders. I currently use the DOM. I care about the closing candle's HLC on a 1 min Chart to enter on the following candle. I have tried using the "Period OHLC-Variable Period" to mark the HLC for each 1 minute candle on my DOM but it struggles to do that. The levels drawn on the DOM left side are incorrect. I used the following settings in the attached screenshot. The issue with using the DOM on chart is that to be able to see the levels clearly I would need to enlarge the chart so much that I lose perspective. I am open to any suggestions, I am sure there must be a simpler way to enter without making it a speed/accuracy contest for clicking on the right spot. Thank you |
| [2023-02-16 17:57:40] |
| Mercrastius - Posts: 46 |
|
You might have to bite the bullet and use the chart DOM - it's the only way I found to quickly send an order at a specific price with 1 click. It's not the same as hitting a button, and you need a good mouse and good mouse skills, but it works. You just need to add the chart DOM Buy & Sell columns to your chart. Keep the crosshair tool active (so the horizontal position remains visible) and position the cursor in the BUY or SELL column as the candle is getting ready to close. Then just clicking the button sends the order at the price you want - and you can configure it to send a limit or stop-limit or whatever you want really. Just make sure to un-check "reject orders that will immediately fill". You have to tinker with the settings but you should be able to do what you want. Maybe keep one chart open for perspective, but enter your orders on a different one so the scale is manageable. The other technique you can use is to have a working order active on the chart away from the current price, then just drag & drop it where you want when you want. This also will require a more stretched out chart scale so you can see what you're doing, but I don't think that's avoidable for what you're trying to do. |
| [2023-02-16 19:34:22] |
| ondafringe - Posts: 322 |
|
@User566250 If you don't want to use either DOM, your only alternative is a custom study. But EasyLanguage isn't C++, so there will be a learning curve. Should you decide to code it up, IMO, you have two options: 1. Code your entire trading strategy so you are fully automated (longer learning curve). 2. Code just the trade entry part and set up a keyboard shortcut to place the order (shorter learning curve). As far as the second option goes, you would watch for your setup, then you would press the "b" key for buy, or press the "s" key for sell. And your code would automatically place a buy/sell limit order at the closing price of the previous bar. Either that or, like @Mercrastius said, you'll have to make peace with one of the DOMs. |
To post a message in this thread, you need to log in with your Sierra Chart account: