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Direct MessagesDate/Time: Fri, 19 Apr 2024 07:10:57 +0000
Triggered Limit
View Count: 690
| [2018-10-19 02:41:20] |
| NG1980 - Posts: 38 |
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Is there a way to have an limit order that triggers the opposite direction of the trigger? From what I can tell, triggered limits function as "pullback entries" so if a price is achieved to the upside then the triggered limit order is to buy lower than that trigger. So if I want to buy something if it makes new highs, then I would have my trigger above a certain price and it would trigger a buy order lower than that trigger. However, I want to short something if a new high occurs. I wish to have a trigger Above the current price that triggers a short order below that trigger price. For example XYZ has been struggling to break above some price like 7160. I want to short XYZ at 7159 only if my trigger of 7161 is hit. I've tried to create this order as a triggered limit but for some reason the system keeps rejecting it. Instead of using Trigger Limit for a "Pullback Entry" I want to use it to "Fade a breakout / breakdown"
Date Time Of Last Edit: 2018-10-19 03:06:16
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| [2018-10-19 09:27:35] |
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Have a look at the different order types here to see if Sierra Chart has what you need: Order Types Sierra Chart has a Triggered Limit order type. 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 |
| [2018-10-19 20:27:02] |
| NG1980 - Posts: 38 |
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I'm specifically trying to use the Triggered Limit order, but it won't work the way I want it to. I'm including a picture and maybe you can try it and see if it's just something wrong with my software, but I want to short after a higher price has been achieved (Trigger) my short would be below the trigger price. Currently the only thing SC will let me do is create a limit order in the direction of the trigger (IE if price has to approaches the trigger from below, then the limit order must be a buy order. If price approaches the trigger from above, the limit can only be a sell order) I think this is because the system only pairs buy triggers with buy orders and sell triggers with sell orders. There's actually no reason for this restriction. You should be able to pair buy triggers with sell orders and vice versa.
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 NQ.20181200.CME_Eq [C] 133 Trades #1 2018-10-19 15_21_59..png / V - Attached On 2018-10-19 20:26:30 UTC - Size: 46.17 KB - 241 views Attachment Deleted. |
| [2018-10-20 10:58:35] |
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only thing SC will let me do is create a limit order in the direction of the trigger Yes this is correct. The Triggered Limit order is also implemented as an order entry study that you could modify to meet your requirements. Refer to:Order Types: Triggered Limit Order Entry Study 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 |
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