How to make a Pending Order Trail ? (Note : Not Trailing Stop)
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I am implementing a new break-out strategy. Where """"Multiple pending orders"""" launch exactly at the time of the news (e.g. Retail Sales News). The issue is that, because the trades are multiple, they don't all execute in once second (0.5 seconds for each trade) so only two would have launched in a second. So I am trying now to execute them before the news breakout time then have them trail until its news time, when they are already there.
I have been trying to use the "Trailing Pending Order" block with the "Time Filter" block. I also tried replacing the Time Filter with the "Delay" block but they all don't work. Its either the Pending Orders don't trail (remain where they entered) and get triggered... Or when I use Delay, they don't execute until delay-time is over (only then start executing at 0.5 seconds each trade).
How do I execute all Pending orders in advance and then have them """"trail""" (not get triggered) until a certain time period ?
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@nande-designs Where does the 0.5 seconds come from?
I think you need a loop of some kind -
0.5 is the Broker's execution time...
I have spend quite some time of mixing and matching methods of doing trailing pending orders (the option is there in Fxdreema) but I can't figure out how to make it work.
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Hmm, interesting..
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Maybe the "slide order" function helps.. Here's an example
https://fxdreema.com/shared/eldrdmecbSuch precision trading will come with some problems:
- Generally the spread widens just before news
- Your broker might not allow moving the pending orders all the way to Ask price
- There may not be new ticks before the news, so you want to use the OnTimer instead of OnTick
- There's also the usual "kickback" to opposite direction before breakout, but that's purely a strategy question
