(1) This is putting the stop loss ABOVE the bar close.
(2) Furthermore, this will adjust the stop to every bar after the trade regardless if it was the entry bar or not - no?
The first point depends on the value of 'm_bigpointrisk', which is defined as:
Code: Select all
protected override void StartCalc(){
m_bigpointrisk = (dollarrisk/((Bars.Info.BigPointValue)));
}
and 'dollarrisk' being
Code: Select all
[Input]
public double dollarrisk{
get { return m_dollarrisk; }
set { m_dollarrisk = value; }
}
So, I suspect that one should enter a
negative value in the Input section to get the stop-loss
below the bar close. This is indeed somewhat confusing, since for some people "dollar risk" means a negative value, while others see this a positive value.
The second point: as I read it, yes, the stop-loss order is send every bar after the trade. But this is a good thing! Because pending orders aren't "persistent" in MultiCharts, meaning you have to keep re-submitting them to prevent them from being cancelled. With intrabarordergeneration turned off, this has to be done once per bar (at close), and with that setting on, on every tick.
I couldn't find a good Wiki link for this, but on the page of
SellShort, it says for example:
An order is executed at the point specified by the parameters; if the order is not filled within the specified bar, the order is cancelled.
Also see
How Signals are Calculated.