OmniTrader Upgrade Forums
Trade Plans
buy stpp orders with systems, strategies, and TPs
4 replies, 1108 viewings
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OmniTrader Upgrade Forums
Trade Plans
buy stpp orders with systems, strategies, and TPs
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Last Activity 1/2/2025 4:50 PM 4 replies, 1108 viewings |
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kmcintyre Legend  Posts: 410 Joined: 8/30/2007 Location: Valley Center, CA  User Profile |
I have a system that triggers LongSignal when I have a valid setup bar. But that doesn't mean I want to go long unless the buy stop level in my trade plan is met. So my systems block is going to pass the signal to the vote block, which passes every signal to the Trade Plan block. The TP block will enter the trade IFF the price exceeds a Buy Stop level. (Not sure how I specify that level, which is probably part of my problem...) I have the system added to my chart, and I see the entry up arrows. But those aren't really entries, just invocations of the trade plan. (Or at least that's my understanding...) The Vote line should show entries that actually meet the trade plan buy stop condition. So there can be entry arrows from my system that don't have entry arrows (triangles) on the Vote line. Right? So how do I use OL to calculate the Buy Stop level? Also, the Buy Stop is a DAY order. (And a broker order.) Does my OL System need to deal with that? Or does the Trade Plan entry condition kill the buy signal in the Vote line after one bar? And what does a broker day order mean if I'm trading off a 3 day chart? (Ok, let's leave that for another post... lol ) Thanks in advance. Cjeers! | ||
| Jim Dean Sage   Posts: 3022 Joined: 9/21/2006 Location: L'ville, GA User Profile |
You cannot define the buy stop order level using OLang for a *broker* order. You can define a buy SM Broker order using the drop down menus on the orders pane (ie you are limited to those combinations). The signal is created on bar X then initiates the TP which (if no Condition is attached) instantiates the Broker SM order on that bar if the market is still open. So the drop down menu reference point is bar X for calcs such as ATR vs PrevClose, etc. The voteline and Advisor *usually* properly report things but not always, so test with a paper account to be sure. Hope this helps with some of it. [Edited by Jim Dean on 7/4/2018 4:27 PM] | ||
| kmcintyre Legend Posts: 410 Joined: 8/30/2007 Location: Valley Center, CA User Profile |
The Buy Stop Market entry with a 0.2% above the setup bar's high is close enough to what I would program in OL, so I'm going with that. I'm seeing system arrows being drawn on the chart, but I am not seeing anything in the vote line or the area under it (forgot what the area is called). I have a System, Vote, and TradePlan block in my strategy. Is that sufficient? Any ideas why I'm not seeing the signal flow in the area under the vote line? Thanks again. | ||
| Jim Dean Sage Posts: 3022 Joined: 9/21/2006 Location: L'ville, GA User Profile |
However, there have been unexplained idiosyncrasies with how reliably OT processes SM and Limit Entry orders in the past. But that doesn’t necessarily mean OT is at fault. There could be something amisss with your TP settings. So, if you’ve got a functional Strat that should be firing signals but isn’t, you should email it to Barry so that he can test it and explain what’s wrong with OT. Or, you can publish it here (snapshots of the various TP panels and the chart) for us to help diagnose. Good luck! | ||
| kmcintyre Legend Posts: 410 Joined: 8/30/2007 Location: Valley Center, CA User Profile |
Thanks Jim! |
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