Support Board
Date/Time: Tue, 26 Nov 2024 12:49:32 +0000
Trailing Stop Loss - Attached Orders
View Count: 432
| [2023-11-22 21:26:19] |
| User788984 - Posts: 31 |
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Is it possible to have a trailing stop loss order be re-calculated ONLY on BAR CLOSE vs. being calculated continuously throughout Bar. I understand the "step" order but if you have a timed bar, the step would not be equal to the variable bar pricing (O<H<L<C).
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| [2023-11-22 22:01:33] |
| John - SC Support - Posts: 36286 |
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You would have to use the "Trade Management by Order" study to do this. Refer to the following: Trade Management by Study For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2023-11-23 13:05:27] |
| User788984 - Posts: 31 |
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Thank you for that guidance. So, I studied the “trade management by order” references you suggested and I got stymied. If I simply used “attached orders”, my trailing stop is continuously adjusted throughout current bar periodicity. If I add study, “highest high ‘ lowest low” over x periods, I’m not sure how the attached orders will adjust my trailing stop. My goal is: on long trade entry, set trailing stop to “entry price” - (“x” percent * entry price). Maintain that stop order until close of bar. At close of bar, calculate prior bar’s HIGH - (“x” percent * HIGH) and if greater than existing stop price, make this value the new stop order. If not, then maintain existing stop order through current bar.
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| [2023-11-27 15:32:08] |
| John - SC Support - Posts: 36286 |
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To start with, when using the "Trade Management by Study", you would NOT use the "Trailing Stop" for the attached order. You would just use a standard Stop, as the Trade Management by Study is going to move the stop for you. Second, you would have to have a study that updates its value to what you want and then reference that study for the "Trade Management by Study". It would probably be easiest to do what you want using a Spreadsheet study. The formulas you will have to setup gets a bit complicated, so you will have to work that part out. Refer to the following: Attached Orders: Study Controlled Targets and Stops Using the Spreadsheet Study For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2023-11-27 16:42:58] |
| User788984 - Posts: 31 |
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Thank you again. I will do as you suggest.
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