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Direct MessagesDate/Time: Thu, 25 Apr 2024 05:52:09 +0000
is it possible to create a line "move SL to BE when touched"?
View Count: 933
| [2021-04-02 18:25:55] |
| artmaan - Posts: 19 |
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hi i would like to know if its possible with sierrachart to create a horizontal line, when price touches this line, then the SL will be moved to BE? i mean: when i open a trade, to this order there should be a line attached, when the price touches this line, then the SL will moved to BE for this order. i trade sometimes fast timeframes and the static "move SL to BE" option isnt really suitable, because the tick size where i would move my stop to BE is different from trade to trade. would this be possible to create, if yes could you point me in the direction how to do it? thank you |
| [2021-04-02 18:51:08] |
| John - SC Support - Posts: 31098 |
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First, there is the capability to move the Stop to Break Even at a certain level number of ticks within the Trade Window. Refer to the information here: Attached Orders: Move to Breakeven for Stop But, if that is not what you want, then you could create the same effect by using a Study Subgraph Add to the Trading: Position Average Price study to establish your line and then use the Trade Management by Study to reference that line and control your Stop. Refer to the following for Study Subgraph Add: Study Subgraph Add And refer to the following for Trading: Position Average Price: Trading Information Windows: Trade Data Studies And refer to the following for the Trade Management by Study: Attached Orders: Study Controlled Targets and Stops For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2021-04-02 19:17:24] |
| artmaan - Posts: 19 |
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that was fast, thanks for helping. i will try it. |
| [2021-04-02 20:19:57] |
| artmaan - Posts: 19 |
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ok just to clarify, i wanted to create a line which i can move around, so i can be flexible with the area where i will move the SL to BE. if understand it it correctly, by using a Study Subgraph Add to the Trading: Position Average Price i will create a static line. is there a way how the make this a moveable line? so i can adjust it directly on the chart where the SL will be moved to BE? thank you |
| [2021-04-02 21:14:04] |
| John - SC Support - Posts: 31098 |
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Yes, what we suggested was a static line situation. There really is not a built-in method to do what you are asking. What you would really need to do this would be a converter from a Drawing Tool (Horizontal Line, in particular) to a Subgraph. We would not be surprised if there is another Sierra Chart user that has already created a tool that would do this. Hopefully they will respond to this posting for you. If it is something you want to take on and code, then refer to the information for the ACSIL here: Advanced Custom Study Interface and Language (ACSIL) For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2021-04-03 12:00:28] |
| AlexPereira - Posts: 197 |
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We would not be surprised if there is another Sierra Chart user that has already created a tool that would do this. Hopefully they will respond to this posting for you.
I coded a study that creates 3 lines that are adjustable: 1 for BE, 1 for trailing target and 1 for "when trailing target reached, move stop into there" ( and when target reached, then adjusts the trailing target/line with + ticks ). If you don't mind using "a user's" study, or if SC is willing to include it in "user studies", I can clean up the tool and put it in a git repo online for you or SC to use. |
| [2021-04-03 15:21:30] |
| artmaan - Posts: 19 |
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great, that sounds good. i would like to try your study. thank you |
| [2021-04-03 18:30:56] |
| AlexPereira - Posts: 197 |
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great, that sounds good. i would like to try your study.
Posted the study in here ( user support forum thread ): Study to manage position with breakeven and trailstop/target |
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