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Date/Time: Mon, 04 Mar 2024 22:28:24 +0000



[Programming Help] - Trade Management by Study, Stationary Targets and Stops

View Count: 252

[2023-08-17 20:29:44]
User126318 - Posts: 5
Hello. Is it possible to use Trade Management by Study in such a way that neither stops nor targets are changed/moved once the initial OCO bracket has been placed? I'm trying to use this study in conjunction with automated entry signals, but my targets and stops keep changing with each bar. I don't want them changing once the exit bracket order has been submitted.

[2023-08-18 00:39:53]
Sawtooth - Posts: 3934
You would need to use the Spreadsheet Formula study, or Formula Columns of a spreadsheet study, where a formula would output the stop and target prices you expect. Then reference this study's subgraph in the Trade Management by Study study.
[2023-08-18 01:20:10]
User126318 - Posts: 5
Thank you so much for answering the post! I actually tried exactly what you suggested. The problem I'm running into, is the Trade Management by Study study updates both my stop and my target at every time interval for the "Every N Seconds" setting, or after each bar prints when I use the "On Bar Close" setting.
[2023-08-18 01:27:58]
bradh - Posts: 839
I don't want them changing once the exit bracket order has been submitted.

I am not clear what you are trying to do. The TMBS study moves stops and/or targets, it does not set them. Before the bracket order is submitted, there is no stop or target. So why do you need TMBS? You say you don't need it after, so what are you using it for?

Inquiring minds want to know.
[2023-08-18 01:46:36]
User126318 - Posts: 5
I'm attempting to build an automated trading system from start to finish. I have my trade entries in place, but I would like to automate the targets and stops too. I'd like my stop to be put 3 ticks below the low of my entry bar, and the target to be 1.5 times the risk. I have studies built through the "Spreadsheet Formula" study to use for these stops and targets, and I cannot rely on pre-set bracket sizes since I'm using a 5 minute chart. I had hoped to just use the TMBS study for my needs, but in doing research on my own, I might have to just figure out how to use the "Spreadsheet System for Trading" study instead. Any input and help from other Sierra Chart users would be greatly appreciated.
[2023-08-18 02:03:53]
bradh - Posts: 839
I might have to just figure out how to use the "Spreadsheet System for Trading" study instead.
That is what I would recommend.
[2023-08-18 12:25:13]
User126318 - Posts: 5
Thank everyone for your help! I've never reached out on these forums myself. I've only just read other people's postings.

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