Hi Milanese,
@Haggadah,
Thanks for your comments and testing.
Up to now, I did not yet play with limit orders.
If I understand you correct, you reported, that after open of a placed pending limit order, the stacking function creates a new pending limit order by the predefined distance below (buy limit) or above (sell limit) in reference to the current price instead of stacking in order direction.
Is that, what you described? It should not be.
From my point of view, limit orders (basically) are normally used to catch the price near the maximum deviation (or call it volatility limit range) in reference to the current price, not expecting that the price will cross these price-limit by a further big movement (tolerance-band).
The limit orders might be useful especially during high volatility periods, if e.g. news suddenly will create temporary and huge spikes in any directions. It seems to me, that you will use limit-orders to catch corrections in order direction?
If we are well prepared (trading breakouts and reversals), we can catch spikes or even a homerun by scaling in (…by stacking), take profit and afterwards trading the CT-reversal in the same manner. Not necessary to mention, that slippage during a fast spike-period sometimes will prevent getting an order filled (depends on broker).
Therefore limit orders are preferred and applied to catch the price nearby limit regions and to trade afterwards countertrend (CT).
As long as I´m live in the market, I do not prefer limit orders for hedging in small ranges and fast moevements. As an alternative being absent, I can place limit orders manually to protect my order scenario, but than I have to dispense the advantage of the stacking feature, if price turns.
Because of missing testing, I cannot report, what will happen, if both order features are simultaneously have been set to true?
With other words, I would expect, that after hitting and open e.g. a buy limit pending order, the stacking feature should work in buy direction and vice versa.
In addition and I suppose that was what you described, to set e.g. a buy pending and buy limit pending simultaneously to true (…in one direction, sorry, I did not yet tested), the limit pending could work like a hedge trade during a X-correction in the main direction and by stacking, even previous orders are still working.
Anyway I assume, that a.m. described limit-order-functionality simultaneously applied, will probably lead to conflicts and malfunctions.
I assume what you intend to do, I will not disregard this idea and it could make sense to use both order features simultaneously as described above, but independent from coding efforts and restrictions, that would probably imply further settings, e.g. different distances, true-false options etc.., especially applied for scalping. Maybe ”Milanese” can clarify, how and if the EA will support this simultaneously setting and operate?
BTW: Unfortunately the EA works only once on an instance (pair and platform) to avoid conflicts resp. malfunction.
The solution suggested by “Milanese” was to use further Empty4-instances, what has been already mention here in the thread.
If I´m wrong, do not hesitate to correct my assumptions and statements.
Thanks for your comments and attention.
Stay tuned…
Trade well my friends
Over60 |
. I added your proposed function and did too some updates to the EA for more functionality and safety.