Support Board
Date/Time: Tue, 15 Apr 2025 13:47:45 +0000
A trailing short or long position strategy trigger
View Count: 275
| [2025-03-25 20:23:34] |
| User580028 - Posts: 15 |
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As a scalper targeting 2-3 point moves with typically 5-minute max trade durations, I need a specialized order type. Here's the systematic flow of the order I'm trying to create: 1. TRIGGER CONDITION: - When price reaches a specific level (example: S&P moves from $5,000 to $5,050) - Instead of executing immediately, this triggers a trailing order 2. TRAILING ENTRY MECHANISM: - The triggered order trails the price by a specified number of ticks (e.g., 5 ticks) - If price continues upward beyond my trigger (e.g., to $5,070), the trailing order follows - When price eventually pulls back, the trailing order stops at its current level - If price pulls back enough to hit this level, it executes my short position 3. AUTOMATIC RISK MANAGEMENT: - Upon position entry, pre-configured stop loss and take profit orders activate automatically - These orders are already set with their respective deviation levels from entry price 4. TRAILING TAKE PROFIT: - Rather than closing at a fixed take profit level, the take profit becomes a trailing order - If price hits my take profit, it begins trailing the price as it continues in my favor - When price eventually reverses, the trailing take profit executes, capturing additional profit To make it clear guys, I've tried multiple different setups in Sierra Chart. I am currently using it to trade, but for the life of me, I can't figure this out. It's a little bit more complicated than I anticipated. The closest thing I've come to this is a chase order. And even then, it only functions if you immediately get in the market. So basically, it chases the price up but doesn't allow you to set where you want it to trigger. You click it and it immediately starts to chase the market or trail the market. That's the closest I've gotten to this. I need it to be where I could place an order on the chart. Like, if I'm analyzing the chart and I see where there could be a pullback, I could put a short there (or it could be a long position, it doesn't matter). And when it engages, it immediately trails the market, whether it be a short position or a long position. That's the issue. Is this type of order configuration possible in Sierra Charts? If not natively available, could it be custom coded? This setup has been crucial to my scalping strategy, and I'm hoping to implement it in my futures trading. Thanks again, Please provide a concise yes or no answer regarding the availability of this feature within the order types and attached orders sections of your platform. I am a subscriber to your charting service and require this information to determine if I should continue my subscription. A video demonstrating the issue is attached for your review. Here's a video link of what I want https://youtu.be/gVg0VEAP93s?si=s_RNXg5bS0AodhBk Date Time Of Last Edit: 2025-03-26 17:44:06
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 Trailing Buy Orders_ how to trade buying at the best price _.mp4 - Attached On 2025-03-26 17:43:44 UTC - Size: 8.5 MB - 16 views |
| [2025-03-25 21:35:08] |
| John - SC Support - Posts: 39274 |
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Steps 1 and 2: Start with a "Triggered Tailing Stop Limit". Refer to the following: Order Types: Triggered Trailing Stop Step 3: Add the Attached Orders you want as usual. Refer to the following: Attached Orders Step 4: This doesn't make sense. You cannot have a "Trailing" take profit, as this implies that the Take Profit will always keep moving ahead of the price and therefore will never be hit. You can setup a Trailing Stop for the Stop Attached order. You need to have some mechanism for stopping the movement of the Take Profit order. You might want to look at the "Trade Management by Study" study. You might be able to set this up to do what you want, particularly in combination with a Spreadsheet Study. Refer to the following: Attached Orders: Study Controlled Targets and Stops For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2025-03-25 21:53:30] |
| User580028 - Posts: 15 |
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Thank you for your feedback. I think I was using the wrong terminology. What I'm trying to set up is not truly a "trailing take profit" but rather a mechanism where: 1. I enter a trade (let's say a short position when price reverses at 5,000) 2. I set an initial take profit target (5 ticks) 3. Once this initial profit target is reached, instead of exiting the trade completely, I want the position to remain open 4. At this point, I want a trailing stop to automatically activate, following the price movement (with a deviation of 2-3 ticks) 5. This allows me to capture additional profit if the trend continues, while protecting my gains if the market reverses This strategy lets me secure a minimum profit while giving the trade room to develop further. The trailing stop would continue to lock in profits as the price moves favorably, and exit the position when the market reverses by the specified amount. In crypto markets, I've used similar functionality that was labeled differently. If Sierra Chart has a way to implement this kind of order management - perhaps using a combination of profit target alerts and automated trailing stops - I'd appreciate your guidance on how to set this up. |
| [2025-03-26 13:41:43] |
| John - SC Support - Posts: 39274 |
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Then make the Attached Stop order a Trailing Stop of some kind. It sounds like another "Triggered Trailing Stop" is what you are looking for.
For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2025-03-26 13:50:43] |
| User580028 - Posts: 15 |
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Hello how are you doing today thank you for your response after doing a little bit of research there is a such thing called a trailing take profit if you have a profit target set up and the market reaches that target instead of exiting out of the trade it'll open up a trail that deviates behind the market at whatever specified price you decide i've used this feature many times on the website three commas and Binance they also offer this on quant tower I know you said it didn't make sense so I had to do double check to make sure even though I knew that I've used it I also have attached a few screenshots to show you proof and maybe you will be able to see what I'm talking about thank you I will also like to add I followed the instructions you gave me yesterday about setting up a triggered trail stop limit order under the main tab I select a trigger price of 5805.50 and for some reason when I set to stop for 5806.50 will always open the order up at the stop perimeter value instead of the trigger price I added two blue lines to the chart so you can see both the trigger and stop price if this is a trigger order shouldn't the price trigger at 5805.50 and then set a stop at 5806.50 and trail the price down and it'll stay deviated by four ticks and if the price turns back around whatever the stop price becomes relative to the deviation from the trigger price it'll get me in for a long position I don't get why it's doing this i'll send a screenshot to show you Date Time Of Last Edit: 2025-03-26 14:10:41
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| [2025-03-26 14:47:11] |
| John - SC Support - Posts: 39274 |
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The account from which you are posting is expired. If you are using a different account, you need to post from that account so we know that you have a valid account.
For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2025-03-26 14:53:45] |
| User580028 - Posts: 15 |
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Okay so I've paid for the base package it was $26 I am not getting data because I don't need it I currently use quantower and the only reason I'm testing this out is because I want to know the functionality of your order types if you don't have this type of functionality then I don't want the platform so I bought the base package just to bring the account out of expiration please confirm this
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| [2025-03-26 14:56:25] |
| John - SC Support - Posts: 39274 |
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You have added $26.00 to your account, but you have not activated a package. Follow these instructions to activate a package: Sierra Chart Purchase and License Information: Instructions For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2025-03-26 17:05:43] |
| User580028 - Posts: 15 |
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I've attached a video as an example of what I am trying to accomplish the red line is basically the trigger for short position because I believe there's a possibility that the price may reverse once it gets to 58 30 but there's also possibility that it'll blow past so for precautionary measures I set a tick trailing so if the price hits this and it keeps going this will trail behind the price and once the price pulls back if it pulls back hard it'll then get me in for a short position and once that happens it'll automatically open up a take profit and stop loss parameters this blue line you see here on the chart is completely imaginary it technically doesn't exist until there's trigger prices hit I don't know how to do this on your platform I have read through some of the documents you've given me but none of them seem to work please let me know if this is possible I hope this video makes it clear what I am trying to do
Date Time Of Last Edit: 2025-03-26 17:38:11
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| 2025-03-26 13-30-10.mkv - Attached On 2025-03-26 17:38:00 UTC - Size: 66.6 MB - 18 views |
| [2025-03-26 20:46:55] |
| John - SC Support - Posts: 39274 |
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From everything you state, the Triggered Trail Stop Limit should work for what you want. The setup for this would be the following: - Set the Trigger to be at the price above the current market price where you want the trailing to start. - Set the Stop price to be at the distance away from the Market Price at which you want the order to trail (you mention 2 ticks, so put it 2 ticks away from the current market price (we recommend testing with a farther entry so you can actually view what is occurring without fear of a small pullback causing the order to fill). - On the "Set" tab of the "Trade Window" are items for "Stop-Limit Order Limit Offset". Enter the "Primary Order" to the value that you want the actual Limit order to be from the Stop. Then select the "Sell" button to place the order where you want it. Test this out in Simulation Mode to get a feel for how to works and then you can expand from there. For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2025-03-26 20:48:04] |
| John - SC Support - Posts: 39274 |
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Also, keep in mind that anything that is not already setup with a built-in tool can be pretty much built as a custom study, particularly with regards to trading. Refer to the following: Advanced Custom Study Interface and Language (ACSIL) 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 |
| [2025-03-28 18:27:09] |
| User580028 - Posts: 15 |
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I sent you a video of what the trigger trail stop limit did. It does work, I'll give you that, but some of the functionality is a bit irrational. For example, in the video you'll see that I set a stop at 5761 and a target price of 5764. I was under the impression that once the target price was hit, then the stop would actually activate - not already be active from the beginning. Technically, if my target price never hits, there's a possibility that because it pulls back, it might pull back at 5761, get me in a trade, and because I was taking a sell position, it may bounce and then get me out of a trade for a loss depending on what my stop loss and take profit is. My question is: is there a way to configure the trigger price to actually activate a stop price, and that stop price will trail the market and once it pulls back it'll become a limit order (which is what you say and it does) and then gets me in a trade? Is there a way to completely eliminate the stop being active until the trigger price is hit? Because again, once I hit the sell button and it sets an order to trail at 5764, there's already a stop active, and if I put that stop below the trail, if it just happens to pull back (which it has done), it got me in a trade. Technically the stop shouldn't even matter because I'm not even actively in a position yet. When it comes to trailing, the first condition should be the market hitting the trigger price, then that trailing order will activate. It wouldn't be a stop until the trail is hit, then it'll become a stop limit order to get me into a trade. I don't know if what I'm saying makes sense, but if there's any possibility or any way that I can do this, please let me know. Thank you. |
| 2025-03-28 14-12-11.mkv - Attached On 2025-03-28 18:26:48 UTC - Size: 136.72 MB - 9 views |
| [2025-03-28 20:52:42] |
| John - SC Support - Posts: 39274 |
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For what you are wanting to do, you would really need to code a custom study. That way you can set the Trailing Stop at the trigger point you want without it existing beforehand. Refer to the following for this: Automated Trading From an Advanced Custom Study 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 |
| [2025-03-28 22:30:53] |
| User580028 - Posts: 15 |
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Assuming this custom study is developed, will it operate as an extension or plug-in, allowing for numerical input and execution, or will it require manual data entry each time? Will it include a user interface?
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| [2025-03-31 15:04:53] |
| John - SC Support - Posts: 39274 |
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All of that is up to you.
For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
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