I have a strategy that i am working on and for the most part it works great, but i noticed I am unable to figure out how to code properly for when a bar goes splat or in a short position goes to the moon. Take a look at the attachment. It's a 5 minute candle bar that just went down about 30 points in 5 minutes.
I want to code something, but not sure exactly how to prevent it from taking a huge loss . I don't want to wait till bar closes to get me out at a huge loss. i would rather take a loss after 5-6 points than 30 in the same bar.
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