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Is it possible to use a trailing stop, for example via the function "trade management by study"? The goal is to automatically draw stop loss after each candle. Does anyone have an idea?
Can you help answer these questions from other members on NexusFi?
I am relatively new to Sierra Charts. I think the answer to your question depends on the formula that you are using to calculate the stop. If it is a simple formula (e.g., Low - x ticks) and you want to just draw the stop level on a chart (mechanically entering stop), you should be able to accomplish this through the Spreadsheet Formula study. It is my understanding that the Trade Management by Study is used to execute exits and/or profit targets.
Below are some simple definitions of some of the studies based on my very limited knowledge of Sierra Charts:
Spreadsheet Formula: for simple formulas to be used to draw output of formula on chart
Spreadsheet Study: more complex equations can also draw output on chart
Spreadsheet System/Alert: simple formulas and will draw a vertical line when conditions of formula are "True"
Spreadsheet System for Trading: more complex formulas and can be used for full automation of trading system including entries and exits
If you want to use the Spreadsheet Study, you can watch some of the Infinity Futures youtube vids on Spreadsheet System/Alert to understand how to use the studies.
Someone can suggest a SC study that can be used to attach to a chart to have a trailing stop bar by bar ?
Because using Trade management by study is possible to attach trailing to a SCstudy.
Thanks for your help !
