Options: Setting Up Conditional Order (OCO) In ThinkOrSwim

[traderesq]

Hello all,

Please don't take this request as laziness, it's more a product of my complete ineptitude when it comes to anything coding related.

I'm looking to create a conditional sell script for options. My biggest problem when trading is not following my own system, so I figured I'd find a way to automate it and get it out of my greedy hands.

How do I create a conditional sell order for an option contract that triggers when the underlying's price goes below the low of the prior 15 min candle?

I tried messing around with thinkscript and conditions in the Order Rules screen but I'm getting nowhere. Any help would be appreciated.

Thanks in advance.

 

[irishgold]

in Trade tab pick the sell side of the option strike you want. On order click the asterisk for conditional order, select study- Edit in thinkscript editor Close < Low[1] select Condition Setup set the 15 min timeframe

 

[traderesq]

in Trade tab pick the sell side of the option strike you want. On order click the asterisk for conditional order, select study- Edit in thinkscript editor Close < Low[1] select Condition Setup set the 15 min timeframe

This is exactly what I needed, thank you!

 

[traderesq]

in Trade tab pick the sell side of the option strike you want. On order click the asterisk for conditional order, select study- Edit in thinkscript editor Close < Low[1] select Condition Setup set the 15 min timeframe

if I change it to Close[1] < low[2] will it wait to trigger until the bar closes below the low of the prior bar? Not that I'm complaining because it was a good sell, but doing it the above way the order triggered in the middle of a 15 min bar.

 

[MerryDay]

if I change it to Close[1] < low[2] will it wait to trigger until the bar closes below the low of the prior bar? Not that I'm complaining because it was a good sell, but doing it the above way the order triggered in the middle of a 15 min bar.

So you are looking for something more like: Close[1] <= ohlc4 [2]