Conditional Exit.

FreoTS

New member
Plus
I'm new to Thinkscript
I want to have a conditional sell order
where it triggers when price goes below the previous price bars low less a $ amount e,g. low[1] - 2$
i cannot work out how to define current price eg bid and compare to previous bar low?
Any help would be appreciated.
 
If you are familiar with Conditional Orders, which I am assuming you are, you would create a Study which contains the following...

Ruby:
close < low[1] - 2.00

That will create a Boolean 1 or 0 without any additional code required... The code will return 1 and trigger the trade as soon as the condition is True...

If this is over your head then you should watch several YouTube videos about "Thinkorswim Conditional Orders" to get a full understanding of how they work... Remember, Conditonal Orders will do whatever you tell them to do, within reason, and will make or lose your money... And Conditional Orders don't function well in OnDemand and Paper Trading so do very conservative testing to insure you don't blow up your account... You have been warned...

I showed a Buy order but the logic is the same for a Sell order, just on a different leg of the OCO bracket...


1737416567424.png


1737416486439.png
 
Last edited:

Join useThinkScript to post your question to a community of 21,000+ developers and traders.

Similar threads

Not the exact question you're looking for?

Start a new thread and receive assistance from our community.

87k+ Posts
572 Online
Create Post

Similar threads

Similar threads

The Market Trading Game Changer

Join 2,500+ subscribers inside the useThinkScript VIP Membership Club
  • Exclusive indicators
  • Proven strategies & setups
  • Private Discord community
  • ‘Buy The Dip’ signal alerts
  • Exclusive members-only content
  • Add-ons and resources
  • 1 full year of unlimited support

Frequently Asked Questions

What is useThinkScript?

useThinkScript is the #1 community of stock market investors using indicators and other tools to power their trading strategies. Traders of all skill levels use our forums to learn about scripting and indicators, help each other, and discover new ways to gain an edge in the markets.

How do I get started?

We get it. Our forum can be intimidating, if not overwhelming. With thousands of topics, tens of thousands of posts, our community has created an incredibly deep knowledge base for stock traders. No one can ever exhaust every resource provided on our site.

If you are new, or just looking for guidance, here are some helpful links to get you started.

What are the benefits of VIP Membership?
VIP members get exclusive access to these proven and tested premium indicators: Buy the Dip, Advanced Market Moves 2.0, Take Profit, and Volatility Trading Range. In addition, VIP members get access to over 50 VIP-only custom indicators, add-ons, and strategies, private VIP-only forums, private Discord channel to discuss trades and strategies in real-time, customer support, trade alerts, and much more. Learn all about VIP membership here.
How can I access the premium indicators?
To access the premium indicators, which are plug and play ready, sign up for VIP membership here.
Back
Top