Support Board
Date/Time: Sun, 11 May 2025 04:12:12 +0000
Traling stop orders
View Count: 349
| [2024-08-29 12:51:11] |
| Eranox - Posts: 27 |
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Hello, I would like to know if there is a way to automatically insert a stop order when a certain price is reached. Example: the current price is 100, I would like that if the price drops to 95, a buy stop order is automatically inserted at 96 (maybe a trailing stop...). Thank you very much |
| [2024-08-29 15:12:42] |
| John - SC Support - Posts: 39699 |
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The part of this that we are not fully understanding is what exactly you mean by "Automatically". To start with, you can enter a "Stop-Limit" or a "Trailing Stop-Limit" whenever you want and have it setup so that the Stop is at a price of 95 and the Limit offset is set to 1 point above. Refer to the following: Order Types: Stop-Limit Order Types: Trailing Stop-Limit Basic Trading and the Trade Window: Set >> Stop-Limit Order Limit Offset >> Primary Orders But to have this order put on automatically when the price gets to a certain point would require that you use the Spreadsheet System for Trading (which will only allow you to enter a Stop-Limit, not a Trailing Stop-Limit) or a custom study. Refer to the following: Spreadsheet Systems, Alerts and Automated Trading Automated Trading From an Advanced Custom Study For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2024-08-29 15:50:24] |
| Eranox - Posts: 27 |
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What I mean is: If the actual price is 100 I put a trigger to 95; when 95 is reached a buy stop is submitted at 96. If the price continues to go down at 93 then the buy stop trails to 94 (I can decide how many tick is the trail offset) |
| [2024-08-29 15:58:48] |
| John - SC Support - Posts: 39699 |
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Set your "Trade Window" to be an order type of "Trailing Stop-Limit". Enter the Stop price on the Main tab to be 95. On the "Set" tab set the "Primary Orders" offset for the "Stop-Limit Order Limit Offset" (at the top of the window) to be the number of ticks to give you a 1 point offset. Then when the price gets to 100, you can select the "Buy" button on the Trade window and the "Trailing Stop-Limit" order will be entered. When the price gets to 95, the Stop will be hit which will change the order to a Limit order at 1 point offset from the Stop price (so 96). As long as price stays below 96, the Limit will not fill. If the price continues to drop, the trail will move limit down to keep it at 1 point above the current price until price goes back up to fill the Limit order. For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2024-08-29 22:04:47] |
| Eranox - Posts: 27 |
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May be that “ Triggered Stop Order Study” can work well for my case but I don’t see it in study list..
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| [2024-08-30 14:00:59] |
| John - SC Support - Posts: 39699 |
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The name of that study is "Trading: Triggered Stop Order". That will not work for what you want as it is only a Stop order. It is not a Stop Limit.
For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2024-08-30 16:34:57] |
| Eranox - Posts: 27 |
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So maybe I explained myself poorly. I'll try to explain it again: 1) The current price is 100; 2) With the mouse, I want to position a trigger at 95 that, if reached, will enter a buy stop order at 96 (also visible on the Chart); 3) If the trigger is reached but the strength of the movement was such that the price violently dropped to 90, the buy stop follows from 96 to 91. From what I've tried, I can't place the stop limit buy order below the current price, but only sell.. |
| [2024-08-30 16:52:26] |
| John - SC Support - Posts: 39699 |
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Refer to our instructions in Post #4. If you are getting filled immediately when placing a Buy Stop-Limit order below the current market price, then you are not entering a Stop-Limit, but rather a Stop or a Limit, but not a Stop-Limit.
For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2024-09-01 13:08:50] |
| Eranox - Posts: 27 |
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I followed what you said in post #4 but it doesn’t work. What I did is the following: The price is at 5641,25, in the main windows I set trailing stop limit order and set a buy order at 5640. In the “Set” windows I set 4 ticks. I expected that when the price met 5639 a buy order would be opened at 5640 but when the price met 5641 a buy order have been submitted without the price reached the 5640 or 5639 What I wanted instead is to put a trigger (better with the mouse..) at 5639 that, if reached, a buy stop order would be actived at 5640. I also tried with the Triggered Stop Order Study but it do the opposite: if I place a trigger with right click of the mouse at a price that is below the actual price it open a sell stop at a price below the trigger price.. I want that if I put a trigger below the actual price than it must activate a BUY STOP up the trigger price (when the actual price go down to reach the trigger price) I tried the triggered stop order (not study version) and it work great but hasn’t the trail option.. Date Time Of Last Edit: 2024-09-02 11:06:36
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| [2024-09-03 21:34:20] |
| Sierra_Chart Engineering - Posts: 19539 |
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This does not make sense. This order would get rejected: The price is at 5641,25, in the main windows I set trailing stop limit order and set a buy order at 5640.
A buy stop order below the current price is going to be rejected.We recommend going through the different order types here and determining what you want: Order Types Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation 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: 2024-09-03 21:35:42
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| [2024-09-03 22:35:27] |
| Eranox - Posts: 27 |
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Actually, the Triggered Stop Order (not the study version but the native one in the trading window) does exactly what I need. I can also insert orders with the mouse (first right click for positioning the stop order after which I can move the trigger line and confirm by left click..). The only thing it lacks to be perfect is that it doesn't follow the price (trailing) when the trigged price is reached with strong momentum.. if you could make it trailing it would be the best!!! Thank you very much Date Time Of Last Edit: 2024-09-03 23:21:48
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| [2024-09-04 19:53:55] |
| John - SC Support - Posts: 39699 |
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There is a "Triggered Trailing Stop" order type. Refer to the following: Order Types: Triggered Trailing Stop For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2024-09-04 21:01:29] |
| Eranox - Posts: 27 |
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Yes but there isn’t the possibility to place the order using the mouse, only by Trading Window. Can you solve this aspect, let user place order as for the Triggered Stop order? Date Time Of Last Edit: 2024-09-04 21:02:21
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| [2024-09-04 22:31:08] |
| John - SC Support - Posts: 39699 |
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Right, sorry. It is not something we can get to any time soon. You could create a custom study to do this for you. The following is a link to people/companies that do Sierra Chart programming: 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 |
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