Matthew Greenslet![]() Idol ![]() ![]() ![]() ![]() Posts: 2077 Joined: 2/27/2006 ![]() | You can do this in a trade plan just not with two broker orders. One side or the other has to be true Virtual Stops tied to most presumably a Market Order. It just makes sense that if you had only one level you can send to the broker you would put it on the loss side. In fact it is very important to ALWAYS have a broker order on the loss side so that you are protected if you loose power for instance and you can not open your trading platform. So to set this up you can have as many loss stops in Step 2 that are Virtual Broker Orders that you like. You can also have as many profit stops in Step 2 that you like as well, however they all must be true Virtual Stops. That is to say a Virtual Stop tied to a Market Order. Really it could be any order type as long as it is not tied to a Virtual Level. However at least 90% of the time it will be tied to a Market Order. Each condition you add to a trade plan step can be set to only take broker action with a percent of the open position. By default when creating a new condition it is set to 100%. Each condition can also be set so that after that conditions broker action has completed you can jump into any Step after the one you are in (you can not go backwards). The list of Virtual Stops does indeed also include any stop you have written in OmniLanguage. If you are using a custom OL stop as a Virtual Broker Order ensure your ExitLevel property is being set. Now that you know about Virtual Stops and Virtual Broker Orders I want to mention one other special stop in the Virtual Stops list called OmniScript. The OmniScript stop gives you an alternative to the process of creating a OmniLanguage stop if you just have a simple condition. Lets say for instance I had a long trade plan and I just wanted to exit when the last price is greater than the highest high of the past 5 bars. Instead of writing several lines of code to create this as a stop I can just use the formula C > HHV(5) in an OmniScript stop. Keep in mind this is OmniScript, not OmniLanguage. You cannot create and assign variables, you cannot create any logic other than a boolean statement. The formula syntax for the OmniScript stop is the same you would use in OmniScan, Color Charts, and Strategy Filter Blocks. Because of this the stop CANNOT return any calculated level (there is no calculations, just a True/False...Fire Exit or Dont) so it can not be tied to a Virtual Broker Order, it will not plot anything on the chart when Plot Stops is enabled, and it will not have a chevron when the Trade Plan step is active. If you have a live trade plan using a OmniScan stop you will see a small gray box at the bottom on the price pane that says OS. |