Support Board
Date/Time: Wed, 30 Apr 2025 13:54:47 +0000
SC Automatically Adjust Trade Target/Stop Parameters Before Trade Is Entered?
View Count: 131
| [2025-04-08 06:55:19] |
| absorrel4 - Posts: 100 |
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I currently scalp using very short term charts (e.g., 10 second candles). I use the Trade Window with attached orders to set my target and stop parameters. My target is typically the Average True Range (14 period)...which is constantly changing. So, I constantly am going to the Trade Window and selecting a saved order via the drop down menu within the Trade Window...the saved order has preset target and stop levels based upon the current Average True Range. For example, if ATR is 36 ticks, I select a pre-saved order which has a target of 36 ticks and a 18 tick stop....if the ATR changes to 40...then I must go to the Trade Window and select a pre-saved order which has a target of 40 ticks and a 20 tick stop...etc....etc. Obviously, I am going to the Trade Window constantly to select a pre-saved order which matches the current ATR. This is cumbersome and time consuming when the market is volatile. Is there a way to have SC monitor what the ATR is (at any given moment) and automatically set the trade parameters to match whatever the ATR is? So, if I enter a trade to go long or short from the chart, SC will automatically set the trade target to match whatever the ATR is (and set a corresponding stop as an attached order)? This would eliminate me from having to constantly go into the Trade Order Window and manually selecting a different pre-saved order. SC will automatically do this for me and all I need to do is enter my trade from within the chart to go long or short and SC will create a target/limit order and an attached stop order with the parameters based on whatever the ATR is at any given time. Can this be set up in SC? |
| [2025-04-08 14:42:49] |
| John - SC Support - Posts: 39559 |
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There are a couple of options for ways to do this, but none of them involve directly having the Attached Orders set on the Trade Window. The simplest option is to use the "Trade Management by Study" study. You would need two copies, one for the Target and one for the Stop. It requires that you setup two lines on your chart based on the ATR. Then you can have the "Trade Management by Study" move the Stop and Target to those preset values. You would then need to turn off the "Trade Management by Study" once the lines are set where you want (otherwise they would continue to move as the price does, so the Stop/Target would never get hit). Refer to the following: Attached Orders: Study Controlled Targets and Stops Another option would be to use the Spreadsheet System for Trading to setup your Stop and Target locations. The difficulty with this is that you cannot enter a trade from the chart - you would have to do it from the Spreadsheet itself by setting the Buy/Sell Entry cell to a non-zero value. Refer to the following: Spreadsheet Systems, Alerts and Automated Trading Spreadsheet Systems, Alerts and Automated Trading: Attached Order Target Offset (write only) [J80] For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2025-04-10 14:53:34] |
| absorrel4 - Posts: 100 |
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I like the Trade Management by Study! However, I have one issue that I can not seem to solve. Within my Spreadsheet ("Spreadsheet System for Trading") I create a formula that provides the target and stop levels by adding/subtracting the Average True Range from the bar closing price. I can get the "Trade Management by Study" to reference my Spreadsheet study and subgraph (i.e., where my target and stop levels are calculated), and it appears to work. HOWEVER, I would like to create a formula in my Spreadsheet that has the target and stop levels calculated from my actual fill price (not the bar closing price). I can not seem to do this. I tried adding the study "Trading Position Average Price" to my list of studies so that it shows up in my Spreadsheet. I then reference this "Trading Position Average Price" cell when doing my target and stop calculations within the Spreadsheet. But, the Spreadsheet formula does not work when I do this. When I get a fill in a long or short position, the Trading Position Average Price shows up in the spreadsheet, but my stop/target formulas will not use the fill price cell...my formula immediately ignores the fill price and does the calculation as if the fill price was zero. The result is that the ATR becomes the target/stop level because the Average Fill Price is zero...and my position gets immediately exited within SC. This all happens in a micro-second. I tried moving the "Trading Position Average Price" study up within my list of studies so that it will appear in earlier cells within my Spreadsheet. My hope was that would (somehow) affect the sequence of how things were being utilized within the SC Spreadsheet...but it did not help. Any suggestions for how to get the Trade Management by Study to utilize my actual fill price? |
| [2025-04-10 18:12:33] |
| John - SC Support - Posts: 39559 |
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You are doing all the right things and have worked through all the right logic. What you are seeing is most likely due to built-in priorities for when the Trade Management by Study updates versus the Spreadsheet. What we would suggest (and feel free to modify the idea as you want) would be to use the Last Price as the reference price in the Spreadsheet unless the fill price is non-zero, then use the fill price. To do this, use an empty column in the spreadsheet and enter a formula like the following: =IF(ID1.SG1@3 = 0, ID0.SG4@3, ID1.SG1@3) Then use that column to create your reference prices from. In this way, you will not have zero value for the Stop and Target. Just keep in mind there will be a small delay before the Stop and Target actually change. For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2025-04-11 15:19:50] |
| absorrel4 - Posts: 100 |
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Worked really good....thanks...
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