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Direct MessagesDate/Time: Thu, 02 May 2024 01:23:13 +0000
horizontal line
View Count: 100
| [2024-04-01 18:29:18] |
| userfifty3 - Posts: 7 |
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Hello, Is it possible to set a horizontal line that automatically creates a buy stop order or sell stop order at a specific price level when the market touches this line? Thank you for your help. |
| [2024-04-01 18:31:27] |
| John - SC Support - Posts: 31293 |
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Are you wanting a Limit/Stop Limit order with a certain offset from that price in order to create a new position when the price moves to that Limit/Stop Limit? Or are you in a position and want to move a Stop order to some offset from that level? For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2024-04-01 19:38:53] |
| userfifty3 - Posts: 7 |
|
I want to put a horizontal line in the market when it is touched I want a stop limit order to be placed at a selected exact price
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| [2024-04-01 21:04:04] |
| John - SC Support - Posts: 31293 |
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In this case we would recommend using the "Horizontal Line" study along with the "Spreadsheet System for Trading". The Horizontal Line study will allow you to put the line where you want and then the Spreadsheet System for Trading will allow you to define the order to be a "Stop Limit" at the price you want relative to that line. For example, you would enter a Horizontal Line at 5300. Then you would set the following in your Spreadsheet System for trading (assuming the Input for "Use Column I and J Values Version 2" is set to "No"): - Cell J22: Stop Limit Price you want (You can use a formula here) - Cell J71: SL - Cell K3: =E3 > ID1.SG1@3 Where ID1 is the ID of the Horizontal Line study and SG1 is the first subgraph of the Horizontal Lines study and @3 specifies the level at Row 3 for the Horizontal Lines study. Refer to the following: Spreadsheet Systems, Alerts and Automated Trading: Special Spreadsheet System for Trading Values Working with Spreadsheets: References to Study Subgraph Columns when using the Spreadsheet Study Keep in mind the Limit Price of the Stop-Limit will be set by the offset defined in the Trade Window: Basic Trading and the Trade Window: Set >> Stop-Limit Order Limit Offset -- There are other ways you can accomplish this as well, so if you do not like something about the above, you can try other solutions. It is beyond our support to give every possible way to do this. For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
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