opening trades above ask

[chimera]

hi

just a quick question, is it it possible to open a instant order at open price plus x amount of pips, or is it only possible through use of a pending order.

example: open price of bar is 1.3455, i want a order placed at 1.3460

can i code it open price plus 5, or do i have to place a pending order 5 pips above the bar open price

chimera

[MichaelM]

In your example above, it would be either a sell limit order or a buy stop order.

[chimera]

Okay

So the following wouldn't work?

PipsAbove = 50
IClose + (PipsAbove / 10000)

Dividing by 10000 to accomodate 5 digit pair

Sorry for newbie questions, but having never coded this type of order style before, just wanna ask so i dont waste mytime when i come home from offshore work. Trying to do it this way, to save me the hassle of coding a stable reliable OCO EA.

[garyfritz]

FWIW 10000 is the value you divide by regardless of whether you have 4, 5, 6, or 11 digit crim. One pip (for non-JPY pairs) is 0.0001, always. 50 pips is 0.0050. 50 / 10000 = 0.0050, regardless of how many digits your crim sends.

And BTW George Heitmann coded a simple OCO script for me months ago, if it would help: http://www.stevehopwoodforex.com/phpBB3 ... f=15&t=237

That script isn't entirely stable -- it doesn't always cancel the opposite order for some reason, and neither George nor I ever figured out why -- but it does work most of the time.