I have a relatively simple code that I am backtesting using tick charts on equity indexes..
My question is how can I set my stop loss 1 tick below the low of the signal bar. For example, a bar prints and signals my long entry, which I would enter upon the open of the next bar.. Now I want my stop loss 1 tick below the bar that signaled my entry.
Example: Signal Bar: High - 102
Close - 101
Open - 99
Low - 97
Entry Bar (Next bar): Open - 101
I will enter a long position at 101.. Assuming the minimum tick size here is 1.00, I want to place my stop loss at 96, since previous bar low was 97.
I assumed this could be accomplished using SetStopLoss(@"LONG", CalculateMode.Price, Low[1] - 1);
However this method does not seem to work.
Any help appreciated.
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