Closing trade with candle.

• 03/25/2023 at 2:51 PM #212104
  bearbull

  Simple question really.

  Once I have a trade open – say manually…………………..is there a way to set the limit with a “candle close” over or across a specified line, level etc?………….as opposed to manually closing or setting a specified level when touched?

  Many thanks

  Mike

  

  bearbull

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  04/05/2023 at 11:42 AM #212832
  RafaelN

  Hi bearbull, if you have access to V12 with your account/broker you can link an order (Limit, Stop, Market,…) to an alert at the bottom of the alert window, which you can set up to trigger on a price level, or a line, or an indicator, etc.

  Would that suit your need?

  

  RafaelN

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  04/05/2023 at 4:38 PM #212879
  bearbull

  Hi RafaelN

  I am using V11 and i see what you mean re associate a trade with a set alarm but all the options only allow crossings over a set level, >= but no option regarding an actual candle close across/over a set level.

  Thanks

  

  bearbull

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  04/05/2023 at 6:04 PM #212890
  GraHal

  So attached is not what you are after?

  It has to be the price >=  at the candle close / end of the current bar??

  If Price had crossed over during the bar then at the end of the bar price would be > whatever level you choose (provided price doesn’t cross back under before end of the bar … is that the Issue?)?

  I can’t get my head around exactly what you are needing? 🙂

  

  GraHal

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  04/06/2023 at 7:24 AM #212902
  bearbull

  “”It has to be the price >=  at the candle close / end of the current bar??””

  Hey GraHal, yes so the candle close has to be above the particular level.

  I understand the alarm will go off as soon as price action either touches the level or briefly pops its head beyond it.

  What I want is to be able to automatically set so that a candle will close above that particular level and not that the price action reaches/touches that level and then say the candle closes below it.

  Does the => mean a candle close above a set level or just means that the price action of that candle briefly touches or briefly goes above the level but but does not close above?

  Mike

  

  bearbull

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  04/06/2023 at 7:57 AM #212917
  GraHal

  You will need an Indicator that changes at each bar, I suggest barindex.

  Are you able to code an Indicator to do this, well here you are try this …

  C2 = barindex <> barindex[1] Return C2

  1 2	C2 = barindex <> barindex[1] Return C2

  Now you can set an alert for 2 Conditions, C1 = Price > 10 and C2 and then set the Alert to close the trade.

  Anybody feel free to jump in and suggest an alternative way to achieve what bearbull wants. 

   

  

  GraHal

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  04/06/2023 at 8:10 AM #212918
  GraHal

  Above won’t work as C2 will always be True / 1 … my coffee hadn’t worked through!!! 🙂

   

  

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  04/06/2023 at 8:15 AM #212919
  GraHal

  Have you tried selecting Previous period for price on the Alert screen?

  1. So if price > 10 for previous period then that satisfies your condition??

  If previous period ends with price <= 10 then 1. above would not be True and so your position would not be closed.

  

  GraHal

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  04/06/2023 at 8:52 AM #212920
  bearbull

  Thanks for inputs…………………..Ill have a play around and see what results i get.

  thanks

  

  bearbull

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