How to create conditional order on ThinkorSwim

May 13th, 2020, 09:01 AM

Plz help:
I would like to execute conditional order on TOS. I want to use 3 Min Candle and want to buy a 355 CALL option of XYZ(say it is trading at 343) when 3 Mins candle "CLOSE" is greater than or equal to 350 Resistance price of XYZ.

And second new order is to BUY PUT(3 Mins Candle): When XYZ stock price break support area of 343 break. Buy PUT when 3 Mins candle CLOSE price is at or below 343.

May 16th, 2020, 12:00 PM

Conditional orders have limited functionality and are manually set by a user. Your example implies that you�re looking for automated trading execution which TOS does not offer.

April 24th, 2021, 02:26 PM

Use 1st trgs seq. Order type.
Once your first order fills, it triggers your second order to fill on your condition.

May 15th, 2021, 05:19 PM

Submit your buy/sell order for the option and navigate to the "Order Rules" window. Under Conditions in the Order Rules window, choose edit Study. Here choose 3m for your and interval and Close > xxx for the call and reverse it for the put Order type is problematic: Market, Limit, Stop Limit. Which one you gonna choose? Also, are these separate orders or OCO?

May 15th, 2021, 05:34 PM

VanDriver

Conditional orders have limited functionality and are manually set by a user. Your example implies that you�re looking for automated trading execution which TOS does not offer.

Actually, TOS CO's have virtually unlimited functionality, but they keep it well hidden. (Don't wanna let the riff-raff in).
Using the "Conditions Box" in the "Order Rules" window, the last choice under the Method drop down is "Study." The last choice under study is "EDIT" which opens the Condition Wizard / ThinkScript Editor. Any standard study and/or your own code is now available as part of your Conditional Order Processing.

How to create conditional order on ThinkorSwim

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How to create conditional order on ThinkorSwim