Formula Builder usage for Limit Price

Hi,

Can someone share an example of using Limit Price using formula in Position Builder.

I want to setup a Futures sell trade to enter the market at yesterday’s close price - 100.

I setup the entry condition as time > 9.30 - and the position as sell NIFTY 50 FUT with limit price set to PREVIOUS CLOSE( FUTURES( NIFTY 50 ) ) - Number( 100 ).

However, the limit formula is not being honored and the sell executes as soon as the time is > 9.30.

What am I missing?

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@vmisra23 so if I understand it right the strategy just says time > 0930 and then in positions you have defined a limit buy price. What happens here is the trade is triggered as soon as time > 0930 and because your sell price is < LTP, the trading system will allow selling at the same price.

There are 2 ways you can deal with this, 1 is by placing an SLM order or by updating your strategy to look something like below:


You can obviously use the ‘Previous Close’ keyword as well. In these cases, you will need to be careful with the limit price which should either be at a number slightly higher than the previous close - 100 or kept at market to ensure you get the trade.

I hope my understanding above is right, let me know if otherwise

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Sir, how to use limit and SL orders. Pls define once with screenshot with formula Builder and obliged. Thank you Sir in advance.
( i mean in position Builder)

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@jumbo2k7 I don’t think Tradetron has that functionality yet. I tried it with SLM order, does not work. The easiest way would be to define it in strategy rather than position.

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Thank You Sir. I think such. Need to define in position Builder.
Tnx

Dear Bullclub Sir,
Pls guide me as per my below need–

  1. Let’s My signal generated at a candle through a indicator .
  2. I want to Buy/ Sell on high/ low of that candle ( lets i assume it -1) when price will reach(LTP) to that high/ low till b4 next signal. How to build in position Builder
  3. And i want to add another condition that I want to buy/sell on next candle opening price when if any candle close will break the high of mine that signaled candle.
    Let me pls help, many ways i experimented but fails.
    Thank you,

Sir, how define it. Could u pls share a screenshot with conditions

@jumbo2k7 Please don’t call me sir, I am a learner like everyone else :pray:

On point no. 2, this can happen only if the high was broken on the 0 candle if we are comparing with -1 candle. The reason is we cannot use a variable to refer back to the trading/signal candle. e.g. it was possible if in my ORB keyword we could use a variable to define time.

There however is a complicated way to do it. If you were trading at 10 min candle and if you wanted to look for next 6 candles for this to happen you can create a series of check points like below:

This compares the same cross on 2 candles, you can keep creating more conditions at -3, -4…-n

Now for the exit at low of that particular candle, you will need to create a further complicated candle that finds the timing of the cross and timing of the trade. In this case, you will need to create n-1 conditions, post which you can simply use low of Donchian.

The above description sounds very complex but it is more laborious than complex. An easy way could be if Tradetron could introduce variables to define periods or time., e.g. variable time perious for Donchian or ORB @umesh @UmeshRanglani @vikram.bajaj

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Dear Sir, (yours Honesty)
Thank you for your prompt reply.
Yes, i completely agreed with you, Tradetron team should be look after on it to provide such facilities becoz we have choosed Tradetron than others likely not to loosen money at all within our busy schedule of job.
Anyway, thanks a ton for your kind reply and screenshot. I had earlier did such type of conditions but rarely position takes in such condition.
Let me tried more if I could :roll_eyes::sweat_smile:
Thank you Sir, Best wishes

Dear Bullclub Sir,
You Truly Deserve for Sir,
Frankly I can say you are more helpful than Team tradetron, generally what we expect from a service provider. But they are busy and too busy truly to attend us :stuck_out_tongue_winking_eye::stuck_out_tongue_winking_eye:.
Your screenshot helped me lot to think something new,
Regards,

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