OCO Orders

How do you cancel a pending order?

 

eg like your inside bar strategy you have a long and short pending order at the same time. How do you cancel the short order if the long order triggers? and visa versa.

 

I was running the Inside bar strategy on the back tester and noticed it didnt close the other pending order.

 

Any chance you could  make some training videos explaining what each of the functions do its real hard trying to put together a strategy when I don’t know what half the stuff means.

 

Thanks Lee

Lee,

You could try two options.  

 

One, you can enter “Bars Valid” and the pending order will cancel itself after so many bars.

 

Second option, you can create additional 2 rules that basically says if an order is open long/short AND a pending order exits short/long, then close the pending short/long order.

 

For example, the rules would be:

 

 

-Stearno

Hi I am curious, I just got this program and am familiar how to use indicators for tests but was going to test inside bars probability on some of my charts. I was wondering, did you have to use a custom indicator or were you able to use the long/short logics of the default program to do this? Any asisstance pointing me in the right direction of the logic would be greatly appreciated. My first post here. Thanks.

Lee,You could try two options.

One, you can enter “Bars Valid” and the pending order will cancel itself after so many bars.

Second option, you can create additional 2 rules that basically says if an order is open long/short AND a pending order exits short/long, then close the pending short/long order.

For example, the rules would be:

-Stearno

I might also add that the expire after so many bars closes the order. It operations on live or pending orders. Looking Through the code, the expire after bars only ask for the magic number and not the type of trade entry is was.  So, it seems option 2 outlines above is the only way to go. Please someone else confurme this, but that’s the way I see it working and the way the code is written.

As you see in the attached image, there are two similar items with Stop Orders:  

 

One is Bars Valid – this is only available (seen) with stop orders.  You will not see it if you choose Market Orders.  This will cancel a pending order

 

The second is Exit After Bars – this is for live orders that will close after so many bars.

 

Hope that clears it up.

 

-Stearno

Yep you are right. Thanks for correcting me. I have a few EA’s that I went back and corrected. Thanks for the response. 

Yep you are right. Thanks for correcting me. I have a few EA’s that I went back and corrected. Thanks for the response. 

 

Great!  You ‘re welcome.