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Setting closing orders (i.e. limit/stop) that reference Buy_to_open price
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Setting closing orders (i.e. limit/stop) that reference Buy_to_open price

  #1 (permalink)
Trading Apprentice
san francisco, ca
 
Futures Experience: Advanced
Platform: thinkorswim
Favorite Futures: futures
 
Posts: 1 since Oct 2014
Thanks: 0 given, 0 received

Setting closing orders (i.e. limit/stop) that reference Buy_to_open price

I'm having trouble formulating exit order for Thinkscript strategy. I have entry using RSI, which is fairly straightforward:

AddOrder(OrderType.BUY_TO_OPEN, rsi crosses above over_bought, tickColor = GetColor(0), open[-1], arrowColor = GetColor(0), name = "Long Entry");


but I would like add a Buy_to_close order once the bid price passes a certain number of points above the price at which the Buy_to_open order was entered. I can't seem to figure out how to reference the buy_to_order price.

Any thoughts? Thanks.

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  #2 (permalink)
Trading Apprentice
seattle wa/usa
 
Futures Experience: Intermediate
Platform: TOS
Favorite Futures: futures
 
Posts: 2 since Oct 2014
Thanks: 0 given, 0 received

I just use the profittarget strategy that comes on tos. I think it is called "profittargetlx" for long exit.

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