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Is there a way that I can exit a long before the [0]candle closes as a stop?

Scoopy

New member
Say if I want to exit if price goes below low[1] as a stop sell order instead of waiting for [0] to close? Messed around with the auto sell, but think I'm doing it wrong.
 
Solution
Remember that we're not looking at true algo trading. ToS is only so good for predicting future returns using back testing. I wouldn't worry about a few cents since you'll never meet the outcomes of ToS in reality anyway.

EDIT: As I reread your post, I think what you want is for ToS to do something mid-bar. It won't (as a part of normal back-testing... perhaps on-demand works differently with simulated orders). It will wait for the bar to close before it does things I'm fairly sure. You can tell your strategy to sell at whatever price you want though it may distort the reality of the backtest beyond usefulness. I mean you could create a sell_to_close that sold at your entryPrice + 10% and ToS would report it as such. It just...
This thread:
https://usethinkscript.com/threads/add-stoploss-price-order-to-thinkscript-strategy.1106/

has in it this order:
Code:
AddOrder(OrderType.SELL_TO_CLOSE, low < EntryPrice() - (EntryPrice() * 0.1), EntryPrice() - (EntryPrice() * 0.1), 100);
which you should be able to modify to suit your purposes. Note that the condition is low is above the stop loss and the next term of the code is the price at which the sell_to_close is executed. Here it is not open[-1] as is the standard (default) setting.

hth,
mashume
 

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This thread:
https://usethinkscript.com/threads/add-stoploss-price-order-to-thinkscript-strategy.1106/

has in it this order:
Code:
AddOrder(OrderType.SELL_TO_CLOSE, low < EntryPrice() - (EntryPrice() * 0.1), EntryPrice() - (EntryPrice() * 0.1), 100);
which you should be able to modify to suit your purposes. Note that the condition is low is above the stop loss and the next term of the code is the price at which the sell_to_close is executed. Here it is not open[-1] as is the standard (default) setting.

hth,
mashume
@mashume Thanks for the reply. I tried to implement that code, but maybe I'm doing something wrong. This is kind of what I'm working with. It trails the lows pretty well. I just want to get out exactly when the price goes below the low instead of waiting for the close.

def selllong = low[0] < low[1];

AddOrder(condition = selllong, tickcolor = Color.GREEN, arrowcolor = Color.GREEN, tradeSize = 1, type = OrderType.SELL_TO_CLOSE);
 
Remember that we're not looking at true algo trading. ToS is only so good for predicting future returns using back testing. I wouldn't worry about a few cents since you'll never meet the outcomes of ToS in reality anyway.

EDIT: As I reread your post, I think what you want is for ToS to do something mid-bar. It won't (as a part of normal back-testing... perhaps on-demand works differently with simulated orders). It will wait for the bar to close before it does things I'm fairly sure. You can tell your strategy to sell at whatever price you want though it may distort the reality of the backtest beyond usefulness. I mean you could create a sell_to_close that sold at your entryPrice + 10% and ToS would report it as such. It just wouldn't be realistic. ToS will use whatever price you want it to regardless of when it executes the sell_to_close command. In real trading, of course, stop loss orders are executed at market as soon as the condition is reached.

mashume
 
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