Opening trades only if the candle touches the price level.

New comment
 

Hi All,

I was wondering whether there is a way to open a trade only if the candle touches the entry line, not the spread.

Is it possible to achieve?

Cheers




 
Andy:

Hi All,

I was wondering whether there is a way to open a trade only if the candle touches the entry line, not the spread.

Is it possible to achieve?

Cheers




candle "touching the spread" ???

if you wanna get rid of the spreadjust use (Ask+Bid)/2.0 instead of Ask or Bid

 
Jean Francois Le Bas:

candle "touching the spread" ???

if you wanna get rid of the spreadjust use (Ask+Bid)/2.0 instead of Ask or Bid

I didn't mean touching the spread but normally brokers open trades at Ask/Bid + spread level for pending orders.

Thanks

 
  1. Andy: normally brokers open trades at Ask/Bid + spread level for pending orders.

    Wrong. You buy at the Ask and sell at the Bid. Pending buy stop orders become market orders when hit and open at the Ask.

    1. Your buy order's TP/SL (or Sell Stop's/Sell Limit's entry) are triggered when the Bid / OrderClosePrice reaches it. Using the Ask±n, makes your SL shorter and your TP longer, by the spread. Don't you want the specified amount used in either direction?

    2. Your sell order's TP/SL (or Buy Stop's/Buy Limit's entry) will be triggered when the Ask / OrderClosePrice reaches it. To trigger close to a specific Bid price, add the average spread.
                MODE_SPREAD (Paul) - MQL4 programming forum - Page 3 #25

    3. The charts show Bid prices only. Turn on the Ask line to see how big the spread is (Tools → Options (control+O) → charts → Show ask line.)
      Most brokers with variable spreads widen considerably at end of day (5 PM ET) ± 30 minutes. My GBPJPY (OANDA) shows average spread = 26 points, but average maximum spread = 134 (your broker will be similar).

  2. Andy: I was wondering whether there is a way to open a trade only if the candle touches the entry line, not the spread.
    1. "Whether there is a way?" Candle touches when H[i] ≥ EL && EL ≥ L[i]. Is that so hard to code?
    2. The charts show Bid prices only.  Spread is irrevalent.
New comment
Reason: