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Direct MessagesDate/Time: Fri, 03 May 2024 18:07:27 +0000
[User Discussion] - Understanding trailing stops.
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| [2015-06-24 23:44:16] |
| CustomIndicators - Posts: 126 |
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I'm having a little trouble understanding the trailing stop. Could you please help clear this up so I can be sure that I know what I'm doing? // Trailing stop order. This has no Attached Orders. // The trailing offset is the difference between the current market price for the Symbol of the chart the trading study is applied to // and the price set by NewOrder.Price1 // Create an s_SCNewOrder object. s_SCNewOrder NewOrder; NewOrder.OrderQuantity = 2; NewOrder.OrderType = SCT_ORDERTYPE_TRAILING_STOP; NewOrder.Price1 = sc.BaseData[SC_LAST][sc.Index] - 10*sc.TickSize; sc.SellOrder(NewOrder); On this line: NewOrder.Price1 = sc.BaseData[SC_LAST][sc.Index] - 10*sc.TickSize;
Is the 10, the amount of offset ticks? So, for the ES, that would be 2.5 points?What is the *sc.TickSize all about? I thought that sc.TickSize was for how many ticks are in a bar. How is that related to the 10? I'm using 5 minute candles. |
| [2015-06-25 03:44:36] |
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Refer to the documentation for the ACSIL member (sc.TickSize) in question.
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, *change* to the Teton service: Sierra Chart Teton Futures Order Routing Date Time Of Last Edit: 2015-06-25 09:50:12
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| [2015-06-25 04:29:24] |
| CustomIndicators - Posts: 126 |
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I did. I read the whole page at least 5 times, and its not clear enough on trailing stops. It doesn't even tell what the sc.TickSize does to the order price. That's why I'm asking about it. Why would you multiply a constantly changing tick size by 10, and call it a correct exit price?
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| [2015-06-25 04:55:42] |
| Kiwi - Posts: 374 |
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The tickSize isn't changing. For HSI it would be 1. For ES 0.25. What changed is the last price resulting in a trailing stop. Although that code moves price back and forward. Look up kiwis trailing stop for one that's more complete. Google: kiwi's trailing stop site:sierrachart.com Date Time Of Last Edit: 2015-06-25 04:58:51
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| [2015-06-25 05:18:06] |
| CustomIndicators - Posts: 126 |
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Ah, thank you Kiwi. You cleared it up for me :)
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