Buy if price is above price for 30-seconds

[we2323]

Hello, hope everyone is well. I don't have much in the way of coding, especially think script so I could use your guy's help on this. I have had some times where I'll place a buy-stop and the price will barely kiss that price, my order will execute, then the price will drop down and it'll punch my stop
Seems to happen alot.
An idea would be to have this buy not execute unless the price has been at or above said price for x amount of time.
Example: The price of XYS is 2.30, I want to buy at 2.50 so the code would be something like "buy at market price if XYS is at 2.50 or above 2.50 for 30 seconds, if price falls below 2.50 reset 30 second timer."
If there is a better way to work this I'm open ears but I think there is some form of a working strategy behind this idea.
Hope this all makes sense and thanks!

 

[mashume]

ToS does not work on time aggregations lower (shorter) than 1 minute.

That said, you can experiment with tick charts which will allow aggregations of much shorter than 1 minute, but are aggregated on the number of trades rather than the time elapsed. It changes... lots of things.

But mostly, it seems like you need to look at things like trade size, average true range, and risk:reward ratios in you trading strategy. That is, if a stock is moving an average of $0.12 per bar and you set your stop at $0.04 it will likely be triggered almost instantly. If you set it at $0.36, you will have some wiggle room for the stock to move (hopefully in your direction eventually). You will need to adjust your position size to limit your overall risk exposure so that a 36-cent stop does not expose you to a total risk of 9 times the 4-cent stop (your position will need to be 9 times smaller for the same risk).

There is a lot of information around on position sizing and risk. This is not meant to be a complete analysis of how to examine and adjust your risk.

-mashume