I would like to build a strategy that enters a position once it rises a certain % above the open on a daily strategy, in addition to other indicators. Is this possible in the building blocks?
Rename
Yes, the flexibility of our Building Blocks has you covered. Use a Buy At Stop combined with the OffsetInd indicator, and apply an offset of -1 bars ago, which translates to 1 bar ahead.
Thanks Glitch
Secondary question - does the same set-up apply to exiting? I.e. do I use a Sell at Limit with the -1 for the OffsetInd?
Probably we didn't have the NextSessionOpen indicator ready when you first asked about this, so use that instead of the OffsetInd with the Open price. That way you can actually trade the strategy without [legally] peeking. When you run the strategy after the open, NextSessionOpen returns the current day's open so that you can trade it.
To enable same-bar limit and stop exits, just tick the Same-Bar check box on the right side of the rule.
To enable same-bar limit and stop exits, just tick the Same-Bar check box on the right side of the rule.
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