You write a script that places a limit or stop order when certain conditions occur. Then the market does not reach your limit/stop price. But you don't want that limit/stop order sitting there forever. You want it cancelled How do you do that.
For example: my strategy is going to place a buy stop when price breaks the upper bollinger. (with some other stuff) We are placing our order 4 ticks above the high of the breakout. candle. If price does not move those 4 ticks, I don't want the order just sitting there. How do I make sure they either disappear.? or how do I limit the time the strategy will be activated once my conditions are first met. Like 8 candles after bollinger break if order not triggered then cancel.
Thanks for your help
For example: my strategy is going to place a buy stop when price breaks the upper bollinger. (with some other stuff) We are placing our order 4 ticks above the high of the breakout. candle. If price does not move those 4 ticks, I don't want the order just sitting there. How do I make sure they either disappear.? or how do I limit the time the strategy will be activated once my conditions are first met. Like 8 candles after bollinger break if order not triggered then cancel.
Thanks for your help
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