Dear Support Team,

I wrote a simple strategy in order to see how to place a pending order inside the last finished candle’s range (In this particular situation: in the middle of the last finished candle’s range.). But something is wrong because all trade opens immediately at the actual candle’s open price and closes also immediately with 2 pips loss (The default SL is 25 pips!).

Where did I make a mistake?

Thank you in advance.

Hi,

I saw that you're using place offer but I'm sure you're referring to another type of pending order: Most probably Sell Stop or Sell Limit isn't ?
In any case, when using these types your orders will be submitted properly.

Dear Amine,

Thank you for your answer.
I’d like to apologize because I didn’t describe my question (i.e. desperate begging ) properly.

So my aim is to figure out how to place a pending order in a following situation:
1. The price is closes up ( H > L; green candle);
2. I’m expecting the price to move toward up, so I’d like to place a pending buy order (bid) below the actual price level. (E.g. at the 50% fibonacchi retracement level of the last candle’s range.) (The last candle closes up, then the price bounces to the 50% level of the last candle’s range, then turns again and goes toward up.)

I wrote a little algorithm (Pending_2.vfs) to see the pending open function „in action” but it simply doesn’t work and I don’t know where to made a mistake.

Please help me to solve the problem.

Thank you in advance,

Best regards,
pedion

p.s.
I'm not able to upload the mentioned Pending_2.vfs because of this message:
Sorry, the board attachment quota has been reached.

Try to upload again...

Hi

Thanks for that,

I did not check in detail your conditions described above Vs what is built in the strategy but I noticed that you are using PLace Bid command in your pending entry block, you probably meant BUY limit/Stop order type instead ? If you try with this, you'll see your orders in the historical tester displayed in Blue triangles.
If you have any other question, don't hesitate

Cheers

Dear Amine,

Thank you for your answer.

I use Dukascopy’s platforms for years.
That means I ALREADY KNOW:
- The different type of orders (Stop order, Limit order, Market order, Bid/Offer, etc.);
- The differences among the mentioned orders;
- How to use them manually;
- How to trade manually;
- Etc.

All I’d like to know is the right use of the „pending open” command, namely:
- In case of LONG trade I’d like to place a BID type of order (Not a Buy limit and not a Buy stop) below the actual price level, exactly on the last candle’s range’s mid-price.
- In case of SHORT trade I’d like to place an OFFER type of order (Not a Sell limit and not a Sell stop) above the actual price level, exactly on the last candle’s range’s mid-price.

The strategy itself in Pending2.vfs absolutely unimportant for me, I randomly created, it’s just a tool for one aim, to place a pending open order with the described conditions.

All in all, my problem is the same:
The uploaded strategy doesn’t work.
Doesn't place a BID type of pending open order below the actual price level, namely on the last candle’s range’s mid-price.

If it’s too time consuming or too difficult to explain it’s OK just tell me and I won’t bother you any more about this problem.

Best regards,
pedion

Hi,

Many users confuse these order types that's why my first thought was to recommend the Limit/ Stop order type. Now, this is not your case and we're on the same page !
I've run a quick back-test using your strategy on the last 3 months and I can see that there is at least one position created (12 Jul), There is no errors generated by your strategy and most of the place bids expires before getting triggered. Here is the result when tested over last week :

2015-10-19 00:10:00 Order submitted Order [IVF20151019_00095861288740, EUR/USD, PLACE_BID, 1000.0 at 1.1363] submitted by the strategy
2015-10-19 00:20:10 Order canceled Order [IVF20151019_00095861288740, EUR/USD, PLACE_BID, 1000.0 at 1.1363] canceled because of timeout
2015-10-19 06:00:00 Order submitted Order [IVF20151019_05595924904369, EUR/USD, PLACE_BID, 1000.0 at 1.13652] submitted by the strategy
2015-10-19 06:10:01 Order canceled Order [IVF20151019_05595924904369, EUR/USD, PLACE_BID, 1000.0 at 1.13652] canceled because of timeout
2015-10-19 21:00:00 Commissions Commissions [0.0]
2015-10-20 21:00:00 Commissions Commissions [0.0]
2015-10-21 21:00:00 Commissions Commissions [0.0]
2015-10-22 03:50:00 Order submitted Order [IVF20151022_03495988885052, EUR/USD, PLACE_BID, 1000.0 at 1.13475] submitted by the strategy
2015-10-22 04:00:10 Order canceled Order [IVF20151022_03495988885052, EUR/USD, PLACE_BID, 1000.0 at 1.13475] canceled because of timeout
2015-10-22 21:00:00 Commissions Commissions [0.0]
2015-10-23 21:00:00 Commissions Commissions [0.0]
2015-10-26 21:00:00 Commissions Commissions [0.0]

If you change your time in force settings you would see the orders displayed in the historical tester.
Let me know if you have any questions

Cheers