Placing order next bar + 1 point stop ?  [SOLVED]

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shanemcdonald
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Placing order next bar + 1 point stop ?

Postby shanemcdonald » 20 Sep 2014

Hi

WARNING : amateur question

I was wondering about how to place an order on next bar.

Lets say I have a momentum or breakout strategy and a long signal is triggered.
I would like to buy the next bar if it pulls back from the current bar close.

So, if it pulls back 10 ticks from the close, I would like to buy.

would that be - 10 ticks stop ?

regards
shane

SUPER
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Re: Placing order next bar + 1 point stop ?  [SOLVED]

Postby SUPER » 21 Sep 2014

Vars: offset(0);

condition1 = ....your_momentum_setup.......;
offset = 10*(MinMove/PriceScale);

if condition1 then buy next bar (C- offset) limit;

shanemcdonald
Posts: 196
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Re: Placing order next bar + 1 point stop ?

Postby shanemcdonald » 21 Sep 2014

Hi

thank you !
I appreciate the help.

best regards

Shane


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