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Forex Software → Help and Support → Logic order
Been fiddling with forexsb for my articles research on different strategy builders.
How do you add this logic in forexsb:
Moving average falls below 25 trigger a buy stop order above the signal bar and a sell stop order below it
Once one of the stop order is triggered, cancel the other one.Much appreciated
Use one of the "band" indicators for entry. If you select "Enter long at the upper band" they will act as stop entry orders. If you select "Enter long at the lower band" they will act as limit entry orders.
Thank you for the fast reply
Could you post a screenshot please as you have described below.
Use one of the "band" indicators for entry. If you select "Enter long at the upper band" they will act as stop entry orders. If you select "Enter long at the lower band" they will act as limit entry orders.
Just set any of the following indicators in the "Opening Point of the Position" slot:
- Price Move, Ross Hook, Round Number, Starc Band, Steady Band, Top Bottom Price, Bollinger Bands, Donchin Channel....
Any entry indicator that specifies two entry prices - one for long and one for short predetermines two entry orders. Depending on the band you enter long, the orders are stop or limit. However, these indicators do not set actual pending orders but wait for the market to reach the predefined level and executes a market order.
Is this correct i posted 2 images for this logic
trigger a buy stop order above the signal bar? Little confused as this seem to divert slightly from the opening logic i described so i am unsure.
Also those 2 parameter : Margin point and MA period , can you explain their purpose and function in regard to the visual image i have uploaded?
Will be nice to have a visual screenshot demonstrating how you would add the logic i described in this post, just so others could also use it in the future as a template.
Regards
Just set any of the following indicators in the "Opening Point of the Position" slot:
- Price Move, Ross Hook, Round Number, Starc Band, Steady Band, Top Bottom Price, Bollinger Bands, Donchin Channel....Any entry indicator that specifies two entry prices - one for long and one for short predetermines two entry orders. Depending on the band you enter long, the orders are stop or limit. However, these indicators do not set actual pending orders but wait for the market to reach the predefined level and executes a market order.
Basically
this is the logic i am trying to implement in forexsb
Go long logic:
price makes a higher swing high or price rose and broke above a swing high while above the 200-period EMA
RSI falls below 30 trigger a buy stop order above the signal bar and a sell stop order below it
Once one of the stop order is triggered, cancel the other one.
Then place stop loss just below the low of the signal bar
If swing highs are in play, better to use Fractal indi, just my opinion.
Could you post a screenshot of the logic i described above?
If swing highs are in play, better to use Fractal indi, just my opinion.
Nothing fancy, here you are:
Thanx but I am actually asking for the screenshots of each opening logic condition for the strategy within the editor that i described in my post not a screenshot of the indicators in the charts . Once i have that i will have a clear idea and can also use those screenshots for future references.
Attached pic of swing high
Nothing fancy, here you are:
I have high fractals on my screenshot as well. I edited it:
Maybe it will be even better to use Donchian Channel, like a n-bar fractal, constitutes a swing high by period, although if price stagnates a lot, it can cause slight problems. Testing will show, definitely!
Actually there has to be a Recent Swing High/Low custom indicator somewhere, made by a user I don't remember, I think he was from Colombia, maybe it's in the repo, will search if I can find it.
EDIT: excellent news! I found it! It's here forexsb.com/repository/repository_indicators/forex_indicator_review/83/recent-swing-high-low
As the saying goes, knock yourself out! Have fun!
Are you able to add the screenshots i asked in my previous message with the steps?
I am also surprised swing high low indicator has not been included in Forexsb list of indicator by default.
I have high fractals on my screenshot as well. I edited it:
Maybe it will be even better to use Donchian Channel, like a n-bar fractal, constitutes a swing high by period, although if price stagnates a lot, it can cause slight problems. Testing will show, definitely!
Actually there has to be a Recent Swing High/Low custom indicator somewhere, made by a user I don't remember, I think he was from Colombia, maybe it's in the repo, will search if I can find it.EDIT: excellent news! I found it! It's here forexsb.com/repository/repository_indicators/forex_indicator_review/83/recent-swing-high-low
As the saying goes, knock yourself out! Have fun!
We cannot post a screenshot of a strategy because your trading rules are not precise.
What does it means "If MA drops below 25"? This is not look as a strategy rule but as a condition for a single order.
I am also surprised swing high low indicator has not been included in Forexsb list of indicator by default.
What is that indicator? Is it included in the MT4 indicators list?
Footon is right that you can use Fractal instead of it.
Perhaps i have not described clearly , ignore first message i couldn't edit it , forum edit option is disabled after 15-30min.
The strategy is simple :
Logic condtion rule for Long:
1)price makes a higher swing high or price rose and broke above a swing high above the 200-period EMA
2)RSI falls below level line 30
3)trigger a buy stop order above the signal bar
4)Then place stop loss just below the low of the signal bar
5))Cancel order if not triggered by the next bar
I hope this is clear
You can set the indicators like that:
[Opening Point of the Position]
Fractal
Enter long at Up Fractal
Visibility - Visible
Vertical shift - 0
[Opening Logic Condition]
Moving Average
The position opens above Moving Average
Smoothing method - Simple
Base price - Close
Period - 200
Shift - 0
Use previous bar value - Yes
[Opening Logic Condition]
RSI
RSI is lower than the Level line
Smoothing method - Smoothed
Base price - Close
Smoothing period - 14
Level - 30
Use previous bar value - Yes
However, when the price is above MA200, RSI may not be below 30.
It looks like: if you are in Greece and it is August and the temperatures is below zero...
Where: Greece stands for Up Fractal
and August = price is above MA200
and Temperature below zero means oversold market - RSI < 30
Swing High is very similar to Up Fractal
Basically
this is the logic i am trying to implement in forexsb
Go long logic:
price makes a higher swing high or price rose and broke above a swing high while above the 200-period EMA RSI falls below 30 trigger a buy stop order above the signal bar and a sell stop order below it Once one of the stop order is triggered, cancel the other one. Then place stop loss just below the low of the signal bar
You have to take it to pieces. Copy-pasting stuff together is easy but results in gibberish. Take it to smallest actions as possible, then start defining what you are trying to do in a logical manner, step by step. You should have an understanding by now how to put a strategy i.e logic together in FSB, so when you have the steps, you can start building your strat and ask understandable questions, furthermore, you can see discrepancies or logical errors in strategy layout, which can then be dealt with. Subjective and discretionary systems are not translatable into mechanical systems by flick of a switch, it needs work and compromises, and more importantly a clear understanding what it is one is trying to achieve.
Hope this helps.
Oh, I see you are progressing on it! Very good!
Thank you for the clear explanation. Everything is clear.
Though 1 thing missing how do we add this stop loss:
4)Place stop loss just below the low of the signal bar
You can set the indicators like that:
[Opening Point of the Position]
Fractal
Enter long at Up Fractal
Visibility - Visible
Vertical shift - 0[Opening Logic Condition]
Moving Average
The position opens above Moving Average
Smoothing method - Simple
Base price - Close
Period - 200
Shift - 0
Use previous bar value - Yes[Opening Logic Condition]
RSI
RSI is lower than the Level line
Smoothing method - Smoothed
Base price - Close
Smoothing period - 14
Level - 30
Use previous bar value - YesHowever, when the price is above MA200, RSI may not be below 30.
It looks like: if you are in Greece and it is August and the temperatures is below zero...
Where: Greece stands for Up Fractal
and August = price is above MA200
and Temperature below zero means oversold market - RSI < 30
Cheers mate, forum wouldn't let me edit the first few posts
Oh, I see you are progressing on it! Very good!
4)Place stop loss just below the low of the signal bar
You cannot do it in FSB. Use some of the other exit options.
I require something equivalent hence stop loss below signal bar is the best suited logical exit point. This is really the only way to get a decent risk reward ratio for the strategy. Using Hard Stop in a dynamic market doesn't make much sense and is not suitable .
Is there any alternative ? Because This is a heavy handicap limitation for serious strategies.
Also how come this can not be done in FSB? Coding issue?
4)Place stop loss just below the low of the signal bar
You cannot do it in FSB. Use some of the other exit options.
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