Support Board
Date/Time: Mon, 16 Jun 2025 20:26:59 +0000
How to initiate a Trailing Stop n ticks from market?
View Count: 277
| [2025-04-16 16:08:08] |
| User512353 - Posts: 76 |
|
With a Trading DOM chart and its Trade Window, I want to initiate a Trailing Stop with an offset of n ticks from the current market price, plus an attached child order, which is also a Trailing Stop order (but of course in the other direction). I can set Global Settings >> Chart DOM Settings >> Order Types >> Right Click on Buy Column Above Last = Buy Trailing Stop but in a fast moving market this is an awkward approach and will almost never achieve the intended offset. I can also use Trade Window >> Main >> Send Attached Orders-Position with >> Targets >> Stop: Trailing Stop and >> Stop Offset: n but I could not figure out how to add another child order in the opposite direction to that. So, is it possible at all to configure the intended 'Trailing Stop n ticks from market with child order Trailing Stop in opposite direction'? |
| [2025-04-16 18:24:52] |
| John - SC Support - Posts: 40440 |
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Are you looking to setup this Stop in the other direction in order to reverse your position should it get hit? Or are you wanting the equivalent of a Trailing Target order? In the case of a Trailing Target, there is no direct option for setting this up, but you could use the Spreadsheet Study and the "Trade Management by Study" to get what you want. Refer to the following: Spreadsheet Systems, Alerts and Automated Trading 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 |
| [2025-04-16 18:48:26] |
| User512353 - Posts: 76 |
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The attached child order would effectively act as a trailing stop loss. Example: Primary order: Trail.Stop Offset:6t Child order: Trail.Stop Offset:4t (in other direction as the primary order) Initiate primary Buy order at Market=100.00 => Prim.Order= Stop Buy 101.50 Market goes down to 90.00 => Prim.Order= Stop Buy 91.50 Market goes up to 91.50 => Prim.Order filled (Inventory= +1) and Child Order= Stop Sell 90.50 activated Market goes up to 95.00 => Child Order= Stop Sell 94.00 Market goes down to 94.00 => Child Order filled (Inventory=0) Somewhat simplified, but illustrates what I want to achieve. Is that what you described as "Trailing Target order"? |
| [2025-04-16 19:25:43] |
| John - SC Support - Posts: 40440 |
|
There is not a built-in way to do this in a single setup. You have to do what you have been doing, of adding another order after the initial order has been sent. The other option would be to create a Custom Study to put in, and manage, the order for you. Refer to the following: Automated Trading From an Advanced Custom Study https://www.sierrachart.com/index.php?page=doc/SierraChartStudyAndSystemProgrammers.php 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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