Limit order 10 pips below Shooting Star

Hi 🙂

 

IF 

  Candle patern[0] is Shooting Star 

and

   RSI > 75

 

then

   Enter at Limit 

       10 pips below the Shooting Star

        Direction Short

 

 

Questions: 

  1. Howto set Limit Order 10 pips below the Shooting Star?

  2. Is Candle patern[0] the last closed candle,

      or should I use Candle patern[1] to address the last closed candle?

 

/Jon

 

 

Jon,

1. For a limit order that is 10 pips above the candle, you would use a rule to say that Candle[1] is a shooting star pattern like you were talking about.  

 

Then, in the order section, click on Limit Order.  

             

 

In the Price field, click on Formula

           

 

Then choose Addition (+)

           

 

Then choose the candle’s high[1]

           

 

Then choose converttorealpips and put int he field 10

           

 

then your rule should look something like:

         

 

2. You will need to use Candle Pattern[1] as it is the last closed candle.  [0] is not closed yet; it is the current candle that is still in progress.  So if you want to use the close of a candle, then the first one you can use is Candle Pattern [1].

 

-Stearno

Thanks for Your help 🙂

 

I appreciate the information you have provided me with and I appreciate the prompt reply.

Not a problem.  Glad could help!

 

-stearno