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Automating buy stop and sell stop orders when trading renko?
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Automating buy stop and sell stop orders when trading renko?

  #1 (permalink)
Elite Member
waldwick, new jersey, United States
 
Futures Experience: Intermediate
Platform: Ninjatrader
Favorite Futures: CL
 
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Automating buy stop and sell stop orders when trading renko?

I trade with unirenko bars. Is there a download for an automated means (button) that will place a buy stop or a sell stop at the close of the next bar that is forming?

I miss many trades because of the time it takes to find and click on right price for the stop order.

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  #2 (permalink)
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  #3 (permalink)
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mannya View Post
I trade with unirenko bars. Is there a download for an automated means (button) that will place a buy stop or a sell stop at the close of the next bar that is forming?

I miss many trades because of the time it takes to find and click on right price for the stop order.

If this was something I wanted what I would do in chart trader (I assume you are still using NT7) to go long is place a stop way above the market (the current price) and then click it to be able to move it just in front of the unirenko bar closing and right after it closes click the chart again to drop the stop order at the level of the just closed last bars price. Understanding I might be below the current price if CL (I assume you are trading CL) is moving around and it would fill instantly. Opposite market side on all this to sell. Not exactly what you are looking for but the market button is the same thing really too.

With a little time and reading the NT7 help file you can make this in the Condition Builder I'm sure. Strategy Wizard Condition Builder

Seems an awful lot like chasing a trade what you are asking for. No offense but is seems to me you are trading with tiny stops on CL and a small account. Which I believe is a very tough combination. At least you will have somewhat of a chance in treasuries. But yes I know it lacks the excitement of CL.

Ron

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Buy Low And Sell High (read left to right or right to left....lol)
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  #4 (permalink)
Market Wizard
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mannya View Post
I trade with unirenko bars. Is there a download for an automated means (button) that will place a buy stop or a sell stop at the close of the next bar that is forming?

I miss many trades because of the time it takes to find and click on right price for the stop order.

Pardon, but ...
Sounds like you either don't really understand what UniRenko and its parameters (Tick Trend/Reversal/Open Offset) do
and/or trade against your own settings because you don't stand their implications.

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