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Trailing Stop Entry for TradeStation
- Thread starter Norm
- Start date
Ok, I think I understand what you're looking for.
Something like...
If 5 day ma crosses above 20 day ma then begin
(Now you look for some retracement down in price)
At this point on some type of "move up" you want a buy stop signal, right?
This would all need to be coded as a complete system then.
You might need to look at other pieces of code out there for ideas on how to do it yourself. Another option would be to hire a competent programmer (I've gone this route a while back). And last you could paste some charts with more detail of what you're doing in the hope somebody may be interested in coding it for you. Either way, to make sure someone doesn't waste too much time on such a project it would be helpful if you had jpegs or screenshots of what it is you're doing.
Good Luck
Something like...
If 5 day ma crosses above 20 day ma then begin
(Now you look for some retracement down in price)
At this point on some type of "move up" you want a buy stop signal, right?
This would all need to be coded as a complete system then.
You might need to look at other pieces of code out there for ideas on how to do it yourself. Another option would be to hire a competent programmer (I've gone this route a while back). And last you could paste some charts with more detail of what you're doing in the hope somebody may be interested in coding it for you. Either way, to make sure someone doesn't waste too much time on such a project it would be helpful if you had jpegs or screenshots of what it is you're doing.
Good Luck
Quote from Norm:
Hi risktaker,
Thanks for your patience!
The trailing buy would be initiated by a setup. It doesn't really matter what the setup is. When a predefined pattern is recognized, the the trailing stop buy will execute.
That is, I am not looking to code the specific condition that invokes the trailing stop buy. Rather, I am looking for the specific code that follows the stock down after the trailing stop is invoked and then issues a market order after the stop is met with an upturn.
How much up is not important. That would be an input to the system that could be optimized with backtesting.
It is the code that actually follows the stock then then performs the buy that I am interested in.
So, a setup occurs. Say, it is a shorter term average crossing under a longer term average. The assumption (or hope) here is that the price is declining and I can pick up a bargain. I appreciate that this has its own risks, but I have been successful at practicing such methods manually.
Then the crossover could trigger the the trailing stop buy. I don't want to buy right away, because there is some likelihood that the stock will continue to decline. So, the trailing stop follows the stock downward until there is a pre-define upturn (such as .25 point entered into the strategy as an input ).
Once the .25 point upturn occurs, then a market buy order is entered by the trailing stop buy.
Thanks again. I appreciate the time that you have put into responding to my posts.
Norm
Keep in mind that that indicator follows the price in *percent* terms. Later on you may try to experiment with ATR's, actual prices, other data series, # of bar highs, etc, etc.
Good luck!
Good luck!
Quote from Norm:
Thanks risktaker!
I believe that the code that you provided shows me how to follow the price down while applying a buy stop at each price level along the way. This is what I wanted.
I appreciate your help. Have a great Christmas!
Norm
I am considering automate my trade with tradestation platform through tradestation securities or IB.
My question is : when I take a position I would like to change my stop (trailing stop) every bar(1 minutes), this stop order stay at the broker's server (rather than on my PC ) and keeps updated untill filled, is this possible ?
My question is : when I take a position I would like to change my stop (trailing stop) every bar(1 minutes), this stop order stay at the broker's server (rather than on my PC ) and keeps updated untill filled, is this possible ?