So far, the software does not provide a 'buy stop' order.
Blaserboy, FSB can use stop, limit and market orders, however it determines the order type automatically for you.
If we use this strategy for example, the entry condition can be set by using the "Previous High Low" indicator with the logic rule "Enter long at the previous low". We have to use daily bars.
We have three possible order types with this entry rule:
- If the current bar opens above the previous low (it means that the previous bar is bullish), FSB will set Buy Stop order internally. This order will be valid till the end of the bar (the day, in our case).
- If the current bar (day) opens below the previous low, (previous bar is bearish), FSB will use Buy Limit entry order.
- If it happens that the opening is at the exact price of previous low (bearish previous day), FSB will use market order.
You'll not see the Stop and Limit entry orders, because FSB not places them on the terminal. The program monitors the market and when it reaches the order target, FSB fires a market entry at the same price.
It is the same as placing Stop or Limit order, but removes the need of canceling the unfulfilled orders.
The above strategy needs customization of the Bar range indicator for thy first two rules.