Hi folks,

I'm new to JForex and would like to know if it is possible to create the following:

I would like create a command (strategy) where I can set a limit price for a limit order to become active (or in this case pending).
An example: Eur/Usd is at 1.1850 and ticking upwards and I want my strategy to create a sell stop order at 1.1970 when the price reaches 1.2000. So instead of making a limit order at 1.1970 straight away I want to see the price to reach a certain level and then turn. And I would like to do this in advance without the need to be present when a price alert goes off. Would be great if the difference between the chosen level and the actual order could be defined as pips, but a price value will do too.

Same thing for upward and downward moves and also for take profit orders.

The reason behind this is that I would like to be able to place limit orders without fearing news generated big moves blowing my trades immediately away (in case of an incorrect reversal level) and to benefit those same big moves without closing my trades with take profit if the price goes straight through the TP level.

Big thanks in advance!

Boris

PS. Shouldn't be too difficult if doable, but the initial step to start with visual jforex seems difficult.

Hi,

From your example, you need to define how the prices are going up ? Based on candles? Ticks ?
There should be 2 adjustable variables according to your example: the "the chosen level" and the target difference in pips. I've made a quick example for you, please check it and let me know your thoughts.

Cheers

Thanks for your swift reply!

I guess ticking upwards wasn't the best of phrases just meant moving upwards for that example.
I was looking for a a price as a starting point, because that already accomplishes what I need. No candles required.

Is it possible to have the pending order type (buy/sell) as a variable? Would like to use it both ways.

Other than that, looks great, haven't had time to test it yet tho.

Thanks in advance,

Boris

I modified the strategy by removing the candle calculation and made separate ones for buying and selling, but now the strategies just stop when I try to run them. Any ideas?
Boris

Hi,

You need to include an instrument filter so that the strategy will trade on specific instrument:
Simply input an IF block with: Default instrument = Last tick BID (or ASK) instrument
The strategy should work normally.

Thanks