If you believe there are both an Upper Barrier and a Lower Barrier, once broken, the market will move in that direction quickly but you have no idea whether the market is going up or down, you can use this strategy. It is similar to a Upper Barrier Strategy plus a Lower Barrier Strategy combined together, except that if one side is triggered, the other side won’t be triggered even if the market reverses direction. In fact, if the market reverses direction and break the other barrier, the open trade will be closed. That is, once triggered, the other barrier level will be treated a the stop loss level.
If you check the “Enabled” box, you can specify how many points to take profit once the strategy is triggered and filled.
If you believe, breaking the barrier is not enough and you want to add additional condition before triggering an order, you can check the box below the “BUY if” and “SELL if” boxes. Once checked, the following additional condition region will appear.
You can specify how many seconds to observe and require how many percentage (P) of these N seconds have to fulfil the additional condition before an order is triggered. In the above example, you required the market price to be >= 20850 AND 90% of the previous seconds NEED to have “Weigthed Average Price” >= 20820 to trigger a BUY order, because you think the market has to be mostly above 20820 and finally rose further up above 20850 to confirm that it has broken the upper barrier.
You can also specify an additional Lower Barrier additional condition similar to the one below:
You can choose from one of the 5 fields (OPEN, HIGH, LOW, CLOSE, WEIGHTED AVG) for the comparison.
See next Strategy: Trend