Thread: Trailing Open Order

Can some make an indicator that is like a trailing stop but to open orders, like a trailing place order. So if price moves up, you have a place order trailing 5 pips behind and when it reversed and goes 5 pips down the order is placed. The pip amount can be changed to any value and the order could be set to a buy or a sell.

Can be used to place an order on quick pull backs for breakouts, and to enter reversals when the market changes, like on TRO's "drain the banks" system. Also a TP, SL, TS.... should all be included.

Originally Posted by thenikey

Can some make an indicator that is like a trailing stop but to open orders, like a trailing place order. So if price moves up, you have a place order trailing 5 pips behind and when it reversed and goes 5 pips down the order is placed. The pip amount can be changed to any value and the order could be set to a buy or a sell.

You can do that with the Ninja Trader platform.