I've been trying, and failing, at creating a functional trailing entry for my strategy. The basic rundown for a long would be
[3] closed bearish, [2] closed bearish, [1] closed bullish.
I want to set my entry to trail from above so that [0] opens , lets say it opens at $10.00 and my buy stop limit will be set 25 ticks from the low of [0] so the order will start off waiting at $10.25
If the price of [0] moves down and establishes a new low of $9.90 my order needs to maintain it's distance of 25 ticks so it changes to $10.15 and so on until either the candle closes bearish and cancels the order or price moves up and tags me in opening my ATM position. I honestly got the idea from one of those rare occasions where I had an order get kinda wonky and I was left with a trailing stop for an order that no longer existed. Once price hit it, it entered like a normal trade. I can't get this to work the strategy builder. Any suggestions?
[3] closed bearish, [2] closed bearish, [1] closed bullish.
I want to set my entry to trail from above so that [0] opens , lets say it opens at $10.00 and my buy stop limit will be set 25 ticks from the low of [0] so the order will start off waiting at $10.25
If the price of [0] moves down and establishes a new low of $9.90 my order needs to maintain it's distance of 25 ticks so it changes to $10.15 and so on until either the candle closes bearish and cancels the order or price moves up and tags me in opening my ATM position. I honestly got the idea from one of those rare occasions where I had an order get kinda wonky and I was left with a trailing stop for an order that no longer existed. Once price hit it, it entered like a normal trade. I can't get this to work the strategy builder. Any suggestions?
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