by RENKOTRADER » Sat Jul 11, 2020 4:12 am
I have traded this strategy over the last two weeks continuosly and confirm that the orders are all generated correctly, however I have found a small flaw which I request that you rectify:
Once a limit order is touched the strategy sequence is to close out the existing order, remove the previous reversal entry order, generate a new reversal entry order and then generate a new market order in the same direction. This is exactly what should happen. Once a stop order is touched the strategy requires that the reversal entry order be executed in order to reverse the trading direction, however and due to the strategy sequence, once the existing order has been stopped out the reversal entry order is also removed therefore cannot be ececuted because it no longer exists. The strategy therefore generates a new reversal entry order and market order but in the same trading direction as prevoiusly traded rather than a reversal in the opposite direction. This can be easily rectified by placing the stop order and the reversal entry order at the same price rather than having a one pip difference. This would allow the entry order to be executed, which would reverse the trading direction, and then a new entry order could be generated.
Thanking you in advance for your swift reaction