"Stop If Bid" command for entry's and stop loss

October 5th, 2010, 08:40 PM

Hello

Is it possible to send a "Stop If Bid " order with MultiCharts easylanguage? If so, how???

I always use these type of orders for entry'S and stop losss with my actual broker: Saxo Banks.

Any help really appreciated

Martin

October 6th, 2010, 02:45 PM

If you mean enter on a stop, yes it is possible. All you do is add the keyword 'Stop' to the end of the buy/sell line.

Code

                            
Buy 1 Contract Next Bar At 80.50 Stop;

Mike

October 7th, 2010, 07:05 AM

Big Mike

If you mean enter on a stop, yes it is possible. All you do is add the keyword 'Stop' to the end of the buy/sell line.

Code

                            
Buy 1 Contract Next Bar At 80.50 Stop;

Mike

Hello Mike

Here is some clarification

The order is valid and will trigger a market order only and only IF the bid price as reach your target.

This is different than a stop. A stop will trigger the order after the price as reach the targeted level. A Stop If Bid will be triggered only if on the market someone is ready to give you your price.

I use this strategie on the Saxo Bank plateform.

Have a great day

Martin

October 7th, 2010, 05:05 PM

Sounds like Market if Touch.

You can code this, just need to look at the Bid and Ask in your strategy. The on-help help has examples of this, look at InsideBid and InsideAsk then you simply test to see if the Last is traded at the Bid.

Mike

"Stop If Bid" command for entry's and stop loss

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"Stop If Bid" command for entry's and stop loss