Topic: How to embed normal formulas

Hey guys,
I am trying to add a formula below to the strategy and can't figure out if the software can do it. Can you help me on this pls?

Buy when,
1. Yesterday's market opened in the top 20% of its daily range and closed in the lower 20%of its daily range.
2. Today the market must trade at least 5-15 pips below yesterday's low
3. An entry buy stop is then placed at yesterday's low. Upon being filled, place an initial protective stop near the low extreme of today.

Re: How to embed normal formulas

So far, the software does not provide a 'buy stop' order.

Re: How to embed normal formulas

Blaiserboy wrote:

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.

Re: How to embed normal formulas

Anyone would be interested in creating the template? I've been going over this for a while and keep failing again and again.. I'm happy to share the strategy with the community.