Support Board
Date/Time: Wed, 27 Nov 2024 21:37:05 +0000
[Programming Help] - stop based on most recent H/L
View Count: 292
| [2023-06-30 15:11:09] |
| Tonkadad - Posts: 235 |
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Is there a way to have stop based on the most recent H/L? Where would I start? Example: NQ market is pulling back and the most recent low is 15275, starts to move back up to 15280, manually enter long and a stop automatically is placed (user defined 2 pts) below most recent low. Date Time Of Last Edit: 2023-06-30 19:01:50
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| [2023-06-30 18:00:35] |
| John - SC Support - Posts: 36350 |
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There really is not a good way to do exactly what you are wanting without creating a custom study. In terms of custom studies, refer to the following: Automated Trading From an Advanced Custom Study The best option we can think of for what you are wanting would be have the stop at the low of the previous bar and then it would move as a new bar is created. The way to do this would be to use the "Trade Management by Study" and use a "Spreadsheet Formula" study. In particular, you would set the "Spreadsheet Formula" to reference the previous bar low, by using the following formula: =ID0.SG3[-1] Then use that study in the "Trade Management by Study". The Stop will then move to the low of the second to last bar. You can then turn off the study to stop it updating, if you want the stop to stay at that location. Otherwise it will update to the low of the second to last bar as a new bar is started. Refer to the following: Attached Orders: Study Controlled Targets and Stops Spreadsheet Formula For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing Date Time Of Last Edit: 2023-06-30 18:01:12
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| [2023-06-30 19:03:02] |
| Tonkadad - Posts: 235 |
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Thanks John
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| [2023-07-01 18:08:54] |
| User61168 - Posts: 403 |
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Hey Tonkadad, Alternative to spreadsheet study that John suggested, you could use 1) High/Low for time period study (to put stops at session high/lows) 2) highest high/lowest low over N bars study (to put stops at H/L of a bar range) 3) Bollinger Bands or any such channel studies to feed the trade management by study. There is a world of creative possibilities with Sierra Charts :-) |
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