Specific order type

T

tr222

Does IB have an order type or condition that can do the following:

Stock close as a green bar today. Place an order to buy the next day if the stock crosses the previous days high. However, only want to buy if the stock breaks the high by increasing, not by coming down. For example, only buy if there is a gap down the following day and the stock has to rise in order to break that previous days high, rather than the stock gaps up and comes down and hits the previous days high.
Is there anyway to configure an order for that.
 
tr222 said:
Does IB have an order type or condition that can do the following:

Stock close as a green bar today. Place an order to buy the next day if the stock crosses the previous days high. However, only want to buy if the stock breaks the high by increasing, not by coming down. For example, only buy if there is a gap down the following day and the stock has to rise in order to break that previous days high, rather than the stock gaps up and comes down and hits the previous days high.
Is there anyway to configure an order for that.
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That would require TWS to calculate today's open in relation to yesterday's high, then set an order to buy at yesterday's high.

That's a system signal that needs to be generated externally.
 
lindq said:
That would require TWS to calculate today's open in relation to yesterday's high, then set an order to buy at yesterday's high.

That's a system signal that needs to be generated externally.
More...

I was thinking 24 hours later: OP desires a conditional order tomorrow: enter if $opentomorrow>$closetoday. Voila'!: Limit order.
 
  • tommcginnis said:
    I was thinking 24 hours later: OP desires a conditional order tomorrow: enter if $opentomorrow>$closetoday. Voila'!: Limit order.
    More...
    How do you put in the condition for opentomorrow>close today in tws...is this possible.
 
tr222 said:
Does IB have an order type or condition that can do the following:

Stock close as a green bar today. Place an order to buy the next day if the stock crosses the previous days high. However, only want to buy if the stock breaks the high by increasing, not by coming down. For example, only buy if there is a gap down the following day and the stock has to rise in order to break that previous days high, rather than the stock gaps up and comes down and hits the previous days high.
Is there anyway to configure an order for that.
More...

Here is what can get you close to what you want.

In TWS the night before, set a buy stop order at the level of today's high.
Right click on that order and go to conditional orders, where you can set 2 conditions at the same time.
(1) Set the time condition just after the market open. For example, 09:30:15
(2) Set the price condition to be less than today's high.

Thus, if the price just after the open (Condition 1) is less than the price you entered as today's high (Condition 2), your buy stop will trigger, and TWS will be waiting for your stock to reach that level before entering.

However, if the price near the open is above yesterday's high, the buy stop order will not be entered.
 
lindq said:
Here is what can get you close to what you want.

In TWS the night before, set a buy stop order at the level of today's high.
Right click on that order and go to conditional orders, where you can set 2 conditions at the same time.
(1) Set the time condition just after the market open. For example, 09:30:15
(2) Set the price condition to be less than today's high.

Thus, if the price just after the open (Condition 1) is less than the price you entered as today's high (Condition 2), your buy stop will trigger, and TWS will be waiting for your stock to reach that level before entering.

However, if the price near the open is above yesterday's high, the buy stop order will not be entered.
More...
That will get a bit closer, thanks. Just want to avoid when it gaps up and comes down and crosses those prices it doesn’t slightly shot back up and activate the order.
 
lindq said:
Here is what can get you close to what you want.

In TWS the night before, set a buy stop order at the level of today's high.
Right click on that order and go to conditional orders, where you can set 2 conditions at the same time.
(1) Set the time condition just after the market open. For example, 09:30:15
(2) Set the price condition to be less than today's high.

Thus, if the price just after the open (Condition 1) is less than the price you entered as today's high (Condition 2), your buy stop will trigger, and TWS will be waiting for your stock to reach that level before entering.

However, if the price near the open is above yesterday's high, the buy stop order will not be entered.
More...
Tried doing this and you can only have a conditional submission for limit, market, relative, snap order types...any other ideas
 
tr222 said:
Does IB have an order type or condition that can do the following:

Stock close as a green bar today. Place an order to buy the next day if the stock crosses the previous days high. However, only want to buy if the stock breaks the high by increasing, not by coming down. For example, only buy if there is a gap down the following day and the stock has to rise in order to break that previous days high, rather than the stock gaps up and comes down and hits the previous days high.
Is there anyway to configure an order for that.
More...
%%
And that's another reason why some prefer discretion.
I like a good uptrend/profits, tr222. But I can think of plenty of reasons why I would not buy- that high.
But I see your points on end of day green close/strong close above yesterdays hi;
=plenty of times profitable.:cool::cool:,:cool::cool::cool::cool::cool::cool:
 
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