• Registered: 2017-08-22
  • Posts: 6

Topic: How to create Buy and Sell Stop in FSB?

I have tried to search this forum on how to create Buy Stop and Sell Stop conditions but couldn't find. My apology if there is already one thread on this and please redirect me. Thanks!

I am trying to create Hector DeVille's London Session Open trading strategy (you can search YouTube using his name and read about it).  However instead of using ATR, Tokyo Range and first few hours of London Open to determine the entry and direction, I hope to utilize FSB to cycle through and suggest the extra indicators to pinpoint better accuracy.

Maybe Popov could consider (if he is free. I know his team is trying to release 2 video per week!) taking this strategy as an exercise to show us how to create Stop & Limit pending entries?

Thanks!

  • footon
  • footon
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  • Registered: 2009-08-17
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Re: How to create Buy and Sell Stop in FSB?

You don't have to specifically set stop orders, those are managed internally by FSB. If you set the conditions up, they get executed at the right moment.

  • Registered: 2017-08-22
  • Posts: 6

Re: How to create Buy and Sell Stop in FSB?

footon, which indicator do you use to "set the conditions up" ?

  • footon
  • footon
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Re: How to create Buy and Sell Stop in FSB?

Lets see - what are your trading rules? Lay them down and we'll go on from there.

  • Registered: 2017-08-22
  • Posts: 6

Re: How to create Buy and Sell Stop in FSB?

Buy Stop and Sell Stop are pending orders.  You don't execute immediately.  If you think that price will rise and break a certain resistance level and continue in the same direction, you set a buy stop at the resistance level. Vice Versa for Sell Stop.  If price does not reach that resistance (or support for Sell Stop) level, after a predetermined time, the pending orders can be automatically cancelled i.e. deleted.

For instance, if you want your pending order to expire in 1 hour if it is not fulfilled, in MQL4, you would do:

ExpiryPeriod = iTime(_Symbol, _Period, 0) + (PERIOD_H1 * 60) + 60;

      TicketNumber = OrderSend(_Symbol,OP_BUYSTOP,LotSize,EnterPrice,Slippage,StopLoss,TakeProfit,Comment,MagicNumber,ExpiryPeriod,Color);

I couldn't figure out how to set Pending Order with expiration time in FSB.  Thanks for your help!

  • footon
  • footon
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Re: How to create Buy and Sell Stop in FSB?

FSB doesn't support expiration time, you can try with Entry Time indicator, it might be of use to you. In your example you set the indicator up with level crossing or if bar opens above certain level, for example.This will mean if your level has been breached, the signal for position opening is given, therefore acting like a stop order.