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Forums>StrategyQuant>Application Support>Enter market at 1 pip above previous candle close

  • #113465 |
    5 Posts

    I’m struggling to figure out how to achieve this.  Can anyone provide assistance?

    Mark Fric
    1182 Posts

    do you want to use stop or limit order for this, or simple market order?


    The problem with stop/limit orders is that brokers don’t allow stop/limit orders so close to the actual price, the difference must be 5-20 pips, depending on broker.


    So one possibility is to use condition


    Bid > Close(1) + ConvertToRealPips(1)


    Enter at market


    This doesn’t guarantee you’ll enter exactly 1 pip above close, you could get some slippage.

    StrategyQuant architect

    432 Posts

    Serious brokers don´t have a limit for stop / limit orders anymore nowadays (0 pips). Go with a serious non-market-maker broker. Global Prime Australia for example has 0 stop level.

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