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Direct MessagesDate/Time: Sun, 05 May 2024 19:12:59 +0000
Post From: How to add a trailing stop to an open position?
| [2023-07-03 15:04:21] |
| bradh - Posts: 854 |
|
I was wondering if it is possible to keep a stop order at the opening of the candle where the order is executed 4 tiks below or above the open depending on whether it is long or short and to make a trail stop following the open of the previous candle always 4 tiks below do you think this is possible?
You can do this with the "Trade Management by Study" (TMBS) study and a Spreadsheet Formula Study. (For both longs and shorts you need two of each.) The spreadsheet formula for longs would be =O[-1]-4*TICKSIZE and for shorts: =O[-1]+4*TICKSIZE One TMBS will be set to control Shorts using the Shorts formula, and the other TMBS will be similarly set for Longs. You then use these formulas as the Controlling Subgraph References for the TMBS studies to manage the stops. |