I built a fairly simply custom study that contained an indicator that I am using to enter and exits my trades. I'm finding that being quick is important (I'm trading the 6E), so I thought at a minimum I would use AddOrder() to enter the trade, and then I would manually place my bracket stops once the position was entered into. However, I was unsuccessful in my attempt to get AddOrder() to work.
I tried chatting with TOS this AM about this, and they basically went into vapor lock and just left the chat, which left me perplexed.
A little research on TOS's website resulted in this: Using Strategies ? Resource Center, in which the key phrase is "Note that currently you cannot send real orders using strategies."
I then did a little more research, and I found that you can use "Alerts" for order entry and exits, but you can only use time-based aggregation periods, and given that I am use Range Charts and not Time Charts, I don't think using the Alerts tab will work for me.
Is it actually true that you cannot place orders using TOS thinkScript and that the only way to enter or exit an order is by manually clicking through the order process?
My goal is to paper trade trade entries and exits based on a simple indicator moving into and out of a condition (ie, on or off). Is anyone currently successfully using "algorithmic" order entry and exits based on a user defined study or strategy?
I believe automated trading was stripped away from ToS a while back.. you can use the AddOrder() to backtest your custom strategies (based on the built-in studies or custom studies that you create or download and add to your ToS) .. the way it works in summary, you modify the study to create the entry/exits "orders" (best way is to look at the existing strategies in ToS and modify your studies similarly), then couple the studies into a strategy (have an entry and an exit pair), then right-click and generate the back-testing report and see how your strategy works ...
I did this few times and it does work.. but don't use it all that frequently .. does this help?
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