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Direct MessagesDate/Time: Sun, 08 Sep 2024 00:02:08 +0000
Help with creating automated trading system
View Count: 234
| [2024-07-25 20:12:17] |
| rwilliams1 - Posts: 346 |
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I am not a programmer but would like to create a simple automated trading system based on two different trade window settings that I have saved but I am not sure how to go about it. When the Stop Loss is hit on one of my configured trade window settings, I would like it to trigger my other saved trade setting to execute a pending order. I read somewhere that saved Trade Window configurations can be used in an automated systems but I am not sure how to do it or what programming method to use. I don't know whether to use the Spreadsheet system, ASCIL or Trading System Based on Alert? Since I am not a programmer I would think the Trading System Based on Alert would be the easiest but I'm not sure. Any info on how to proceed forward is appreciated. |
| [2024-07-25 20:32:13] |
| John - SC Support - Posts: 34254 |
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The "Trading System Based on Alert Condition" does not have the ability to change the Trade Window Configurations. The "Spreadsheet System for Trading" does have this capability, but you have to be careful about entering the correct configuration and the quantity to match. You can use spreadsheet functions to get the items as you want - for instance you can use an IF() function to set the Trade Window Configuration, such as the following: =IF(ID1.SG1 < 200, "Config1.twconfig", "Config2.twconfig") Or you can do this using ACSIL, but if you are not programmer, then this is not really an option - although you can pay someone to do it for you. Refer to the following: https://www.sierrachart.com/index.php?page=doc/SierraChartStudyAndSystemProgrammers.php For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2024-07-25 21:02:01] |
| rwilliams1 - Posts: 346 |
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Thanks so much for clearing things up. So my only option is the spreadsheet if I want to try and do it myself. Do you know if the spreadsheet system will allow me to trigger a new order when a stop loss is hit? Either by using saved configurations or programming it directly into the spreadsheet? For example, when a stop loss is hit it triggers a new pending reverse order (SAR) a user defined distance above/below the stop loss level. Would this be possible using the spreadsheet system?
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| [2024-07-26 15:49:02] |
| John - SC Support - Posts: 34254 |
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This is possible, but you would not do it exactly this way. You would setup the Spreadsheet to allow for Reversals, and you would set the opposing Entry order type to occur when the price got o the level that the Stop would have been present. The information for how to use the Spreadsheet Systems is at the following link: Spreadsheet Systems, Alerts and Automated Trading Play with it in Simulation Mode and using Replay to figure out how each of the options work and what you need to get what you are trying to accomplish. It can take a bit of time, but you'll get there. For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2024-07-26 18:09:49] |
| rwilliams1 - Posts: 346 |
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Thanks for all of your help. I will study the documentation. I have one last question. You mentioned setting the opposing order entry once the price has reached my stop loss price level. But to be safe, is there a way to create the opposing reversal order to trigger ONLY when the stop loss has actually been filled instead of just setting it to a price level? Thanks again.
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| [2024-07-26 19:02:13] |
| John - SC Support - Posts: 34254 |
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But to be safe, is there a way to create the opposing reversal order to trigger ONLY when the stop loss has actually been filled instead of just setting it to a price level?
The problem is that within the Spreadsheet System for Trading, there is not a way to know that the position was closed by the Stop. You could definitely setup a "Buy Entry" with a Stop condition and wait for that position to be closed before entering a "Sell Entry" and so on. But overall the logic would be the largely the same. In the end, you need to work out how best to make this happen for you. As you add complexity, the Spreadsheet System for Trading may not be able to do what you want, in which case you then need to create a custom study. For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2024-07-26 20:41:22] |
| rwilliams1 - Posts: 346 |
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Thank you for clarifying.
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