I am attempting to enter into a reversal trade if the current trade I am in goes against my strategy.
Here is how I currently understand it:
- I enter a Short trade with EnterShortStopLimit at 100. Normally you would want to put a SetStopLoss somewhere above since we are going Short; let's assume 105.25, which would be one tick above the High on that candle in this scenario. Instead of doing that I would want to put a EnterLongStopLimit at 105.25 so if it's hit we assume the trend is going against our initial strategy. Additionally I'll set a SetProfitTarget to exit the trade if we get X number of ticks.
- Now we are in a Long trade because our Short trade went against the direction we thought it might go; after the long trade is in I'd like to set a SetProfitTarget and a SetStopLoss because we do not want to ping pong between a short and long trade.
I can share my code if you feel it might be I wrote it incorrectly.
Thank you for any help!
Travis Sloneker
Comment