Indicator that lets me hit BUY and does the stop loss automatically?

[triscarter]

Can someone point me towards an indicator that lets me hit BUY and does the stop loss automatically?

 

[triscarter]

I also have a MetaTrader4 platform for forex. Perhaps someone could direct me where to find this indicator?

 

[mashume]

@triscarter
ThinkScript can not automatically place orders for you.
You can set up custom orders using ThinkOrSwim:
https://tlc.thinkorswim.com/center/howToTos/thinkManual/Trade/Active-Trader/AT-Entering-Orders
https://tlc.thinkorswim.com/center/howToTos/thinkManual/Trade/Order-Entry-Tools/Order-Types
and you can save your orders for future use, though some find it intuitive, I have never found it so.

With all that said, you can place a 1 triggers another order to have your stop placed when the buy is executed, but you need to set the actual order level manually (unless you always use the same stop -- percent, cents, etc...)

You can program indicators which show stop levels when a signal to buy or sell is generated, but again, you'd have to set the levels yourself. I often use indicators that show targets and stops and create an OCO order after the BUY order is placed, but I do so manually and then adjust the levels of the stops and targets to match those shown on the chart.

TL;DR: You didn't say anything about what kind of indicator, other than functionality for placing orders and ToS does not do auto-trading.

-mashume