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Trade Plans
Current Chevron Ledgend ?
6 replies, 1829 viewings
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OmniTrader Upgrade Forums
Trade Plans
Current Chevron Ledgend ?
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Last Activity 1/2/2025 4:50 PM 6 replies, 1829 viewings |
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kmcintyre Legend  Posts: 410 Joined: 8/30/2007 Location: Valley Center, CA  User Profile |
OL-V L-HA S-HA What do these chevron IDs mean? I assume HA probably means HRS Adaptive. But shouldn't that be in the prefix, not the suffix? I think the L-HA is a profit stop for long positions based on HRS Adaptive. I think the S-HA is a profit stop for short positions based on HRSS Adaptive. Are those virtual stops? If so, why not HA-V or LHA-V and SHA-V? I think the OL-V is the entry order. But the same OL-V is used for long and short positions. And it should not be a virtual level after the trade is opened. According to the Chevron Ledgend in the OT Users Guide, L-D and S-D should be used for long and short open positions. Is there a current Chevron Legend that includes every possible chevron identification abbreviation? THanks | |||||
| Barry Cohen Sage    Posts: 6338 Joined: 1/19/2004 User Profile |
OL = OmniLanguage Stop The 2nd ID in the chevron is for the timeframe. HA = Heikin Ashi. V = Virtual stop, O = Broker stop
L-HA & S-HA are the entries, not stops. OL-V is a stop. | |||||
| kmcintyre Legend Posts: 410 Joined: 8/30/2007 Location: Valley Center, CA User Profile |
My L-HA chevron is not showing entry at MOO priceing. In fact, I am having a difficult time finding any logic as to the fill price. I looked at the trade plan (HRS Adaptive) and the initial order is Buy 100% SYM Market GTC. I think that probably works well for RT traders. I am guessing that for someone like me, who doesn't run OT during market hours, but rather runs OT after the market closes, this is a bit problematic. So what happens to a Market GTC order if OT is not running at 6:30 AM PST? Will the fill price be dependant on when I next run OT? If I change the initial order to a MOO order, will OT fill the order at the open of the next bar, regardless of when I run OT next? I am using a paper account via OT's Porfolio. So no orders are being sent to a broker. (If a MKT order is placed after the close, I get MOO pricing on the next bar with either IB or TOS. Apparently not with OT.) Thanks | |||||
| Jim Dean Sage  Posts: 3022 Joined: 9/21/2006 Location: L'ville, GA User Profile |
If you know this already, apologies ... Even though HA bars (or other fabricated NTB-type bars) are showing on the chart &/or used by the strategy, all the TradePlan orders are based on underlying OHLCV data. So, a MoO order "should" fire at the underlying daily-bar's Open price. And, of course ... the Open shown by OT datafeed *might* not match the Open that the broker uses to fill ... though they should match since Open is (semi) negotiated. | |||||
| kmcintyre Legend Posts: 410 Joined: 8/30/2007 Location: Valley Center, CA User Profile |
I did not think of that. I have never traded off a HA chart using OT Trade Plan chevrons. I will try the Daily chart and see if the world starts making sense again. (LOL) Cheers! | |||||
| Barry Cohen Sage Posts: 6338 Joined: 1/19/2004 User Profile |
It should be the daily bar's open price.
It does nothing if OT is not running. Only submitted broker orders can fill if OT is shut down. When OT is opened & the ToDo List runs, the order will fill & the trade plan will move to the next step & activate the stops.
The fill price will be the open price of the next daily bar when using a market or moo order. This is regardless of when you run the next ToDo List. | |||||
| kmcintyre Legend Posts: 410 Joined: 8/30/2007 Location: Valley Center, CA User Profile |
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