say I wanted to go long at 11:30, so I have something like this.
if(ToTime(Time[0]) == 113000){
limPrice = Open[0]+ -1*TickSize;
myEntryOrder = EnterLongLimit(1, limPrice , "goLONG");
}
If I am correct this will place a limit order 1 tick below the current market so that if it falls that one tick it will fill a long order. However if it does not fall that one and rises 5 or more ticks I want to remove that order and not trade.
would something like this work? or is there a better way?
if (myEntryOrder != null && GetCurrentAsk() >= limPrice+4*TickSize)
CancelOrder(myEntryOrder);
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