NexusFi: Find Your Edge


Home Menu

 





Sierra Chart Worksheet System For Trading/Alert Discussions


Discussion in Sierra Chart

Updated
      Top Posters
    1. looks_one Sawtooth with 73 posts (125 thanks)
    2. looks_two luckcity with 43 posts (2 thanks)
    3. looks_3 RT912 with 12 posts (0 thanks)
    4. looks_4 bxman with 10 posts (0 thanks)
      Best Posters
    1. looks_one TropicalTrader with 2 thanks per post
    2. looks_two Sawtooth with 1.7 thanks per post
    3. looks_3 aBuzz54 with 1 thanks per post
    4. looks_4 luckcity with 0 thanks per post
    1. trending_up 64,494 views
    2. thumb_up 139 thanks given
    3. group 44 followers
    1. forum 182 posts
    2. attach_file 9 attachments




 
Search this Thread

Sierra Chart Worksheet System For Trading/Alert Discussions

  #81 (permalink)
RT912
Sydney New South Wales / Australia
 
Posts: 19 since Jul 2019
Thanks Given: 5
Thanks Received: 7

Hi Tom
Apologies for the previous incomplete message.... fat fingers!
I was hoping you could assist with the following:

- I would like to use Spreadsheet System for Trading to apply a trailing stop based on the last trade less Trailing Offset

- if long Stop to rise if Last > Last -1

- if long Stop to remain at same level if Last < Last -1
eg Assume offset = 10

time period 1, L=1000 Stop =990
time period 2, L=1025, Stop = 1015
time period 3, L=1020, Stop = 1015
time period 4, L= 1000>>>>>>>>>>>Stop would have been triggered at 1015

For completeness, I understand the Trade Management by Study may be helpful, but I can't make this work (I think because I connect via FXCM who don't support SC trailing stops).
Thanks in advance for your help

Reply With Quote

Can you help answer these questions
from other members on NexusFi?
Deepmoney LLM
Elite Quantitative GenAI/LLM
Exit Strategy
NinjaTrader
NT7 Indicator Script Troubleshooting - Camarilla Pivots
NinjaTrader
The space time continuum and the dynamics of a financial …
Emini and Emicro Index
New Micros: Ultra 10-Year & Ultra T-Bond -- Live Now
Treasury Notes and Bonds
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
60 thanks
Funded Trader platforms
43 thanks
NexusFi site changelog and issues/problem reporting
24 thanks
GFIs1 1 DAX trade per day journal
22 thanks
The Program
19 thanks
  #82 (permalink)
 Sawtooth 
Prescott AZ USA
 
Experience: Advanced
Platform: SierraChart
Broker: Stage5, FCM:Dorman, Data:Denali, Routing:Teton
Trading: YM ES NQ
Posts: 474 since Nov 2009
Thanks Given: 219
Thanks Received: 603

The easiest way to do this is by using the Trade Management by Study study that references a formula in row 3 of a Formula Column. This method will allow you to use Attached Orders so that the stop and target are OCO.
The formula in row 3 of a Formula Column would return the stop's price, updating at each period. This will need to be a persistent variable so that the latest value is always in row 3.
Assuming you use P3, try this:
=IF(K3,E4-$J$21*10,IF(E3>E4,E4-$J$21*10,IF(E3<=E4,P4,P4)))
This is not tested, and you will probably need to modify it.

It is easiest if you use two instances of the Trade Management by Study study, referencing two Formula Columns, one for longs and one for shorts.

If you cannot use the Trade Management by Study study because of FXCM limitations, use the same formula in a Formula Column, and in cell L3, compare it to E3, like this:
=E3<=P3

Started this thread Reply With Quote
Thanked by:
  #83 (permalink)
RT912
Sydney New South Wales / Australia
 
Posts: 19 since Jul 2019
Thanks Given: 5
Thanks Received: 7


Thanks very much Tom.

Why do you multiply tick size ($j$21) by ten?

Reply With Quote
  #84 (permalink)
 Sawtooth 
Prescott AZ USA
 
Experience: Advanced
Platform: SierraChart
Broker: Stage5, FCM:Dorman, Data:Denali, Routing:Teton
Trading: YM ES NQ
Posts: 474 since Nov 2009
Thanks Given: 219
Thanks Received: 603


Quoting 
Why do you multiply tick size ($j$21) by ten?

I assumed the stop offset was in ticks.

Started this thread Reply With Quote
Thanked by:
  #85 (permalink)
RT912
Sydney New South Wales / Australia
 
Posts: 19 since Jul 2019
Thanks Given: 5
Thanks Received: 7

Apologies Tom, my last question showed my ignorance. Have just realised you multiply $j$21by ten, as ten is the offset.

Reply With Quote
  #86 (permalink)
luckcity
sydney australia
 
Posts: 44 since Jul 2012
Thanks Given: 26
Thanks Received: 2

Hi Tom,
Trying to implement an intracandle stop idea, and I think it cant be done because its intracandle.

Because was seeing some losses with 0 Max Open profit ticks and -50 Max Open loss (stop was at 50), was looking to establish a limit using the ratio of Max open profit to the current loss.

So would like to cut losses if the ratio exceeds e.g. 1/10:

1 Max Open profit and -10 current loss, (or 2/-20, etc.),
but unable to store the Max open profit intracandle.

Is there a way?

Reply With Quote
  #87 (permalink)
 Sawtooth 
Prescott AZ USA
 
Experience: Advanced
Platform: SierraChart
Broker: Stage5, FCM:Dorman, Data:Denali, Routing:Teton
Trading: YM ES NQ
Posts: 474 since Nov 2009
Thanks Given: 219
Thanks Received: 603


luckcity View Post
Hi Tom,
Trying to implement an intracandle stop idea, and I think it cant be done because its intracandle.

Because was seeing some losses with 0 Max Open profit ticks and -50 Max Open loss (stop was at 50).

So looking to establish a limit using the ratio of Max open profit to the current loss.
And would like to cut losses if the ratio exceeds e.g. 1/10:

1 Max Open profit and -10 current loss, (or 2/-20, etc.), but unable to store the Max open profit intracandle.

Is there a way?

There is no way to store an intrabar value in a spreadsheet study, but you don't need to store the intrabar Open P/L (J10) if you are exiting intrabar.

If the ratio meets the criteria intrabar, it will exit intrabar, if:
- You are using L3/N3 and Signal Only On Bar Close (L,N) is No, or
- You are using J29 (and referencing Row 3 in the formula if needed), regardless of the Signal Only On Bar Close (L,N) setting.

Give me an example of the ratio formula you are using.

Started this thread Reply With Quote
  #88 (permalink)
luckcity
sydney australia
 
Posts: 44 since Jul 2012
Thanks Given: 26
Thanks Received: 2

Hi Tom,
After some thinking, the ratio is 1 to 1, with an offset.
Drew a picture to help explain, though this stop strategy may be a bit convoluted, but wanted to try it, if it can be done.
The idea of its effectiveness may be just as convoluted



Excuse the scaling of the drawing
The stop offset is 6, and is shown as the initial stop.
The stop gets reset lower once the profit has reached past 6, at 7.
And again at 8, before hitting the fixed target.

The consideration here is storing the 7 and 8, again not sure this can be done in spreadsheets as it would be intracandle.
It would involve using =$J$10/$J$56 to determine the # of ticks in profit, the 7 and 8, but since the J's are always moving, not sure it can be stored without some ACSIL magic.

Reply With Quote
  #89 (permalink)
 Sawtooth 
Prescott AZ USA
 
Experience: Advanced
Platform: SierraChart
Broker: Stage5, FCM:Dorman, Data:Denali, Routing:Teton
Trading: YM ES NQ
Posts: 474 since Nov 2009
Thanks Given: 219
Thanks Received: 603

So this is the opposite of a trailing stop.

A spreadsheet study can store an intrabar event, but not an intrabar value.

To store an intrabar event, you'd need to use this functionality :
https://www.sawtoothtrade.com/example-9.html
This can lock a TRUE condition intrabar.

You'd need a separate one for each MFE step, or find a way to reset it after each step.
I can tell you from experience, this will get very complicated/complex.

It would probably be easier to use ACSIL.

Started this thread Reply With Quote
Thanked by:
  #90 (permalink)
 ClutchAce 
Cookeville, TN
 
Experience: Advanced
Platform: Sierra Chart, IB, Python
Trading: NQ, DAX, TOPIX
Frequency: Daily
Duration: Hours
Posts: 71 since Oct 2011
Thanks Given: 18
Thanks Received: 21



tomgilb View Post
If you are using the same-named spreadsheet on more than one chart in the same chartbook, and all of the charts are using the same formulas, you can set all of the Formula Source Sheet Numbers to the same sheet so you only need to edit one sheet.

If you are using the same-named spreadsheet on more than one chart in the same chartbook, but each chart needs its own formulas, set the Formula Source Sheet Number to the same as the chart number. IOW, you don't need a uniquely named spreadsheet for each chart.
(You only need an uniquely named spreadsheet if you concurrently have more than one chartbook open. IOW, each concurrently open chartbook needs its own uniquely named spreadsheet.)

Hi Tom, got a question that I think is tangential to what you wrote here - do you see it as possible for multiple Chartbooks, each containing at least 1 Chart with studies applied for auto-trading, to have one Spreadsheet SfT study that contains a sheet for each Chart across the 'books?

I'd like to have a global/'master' spreadsheet as the sole point of order management, instead of one spreadsheet per Chartbook.

Reply With Quote




Last Updated on January 3, 2022


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts