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18_Auto Scale-in to Trades at Bar High Low, Plus Points

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Auto Scale-In | Bar Hi/Lo + Points


Overview: The Auto Scale-In | Bar Hi/Lo + Points feature in the OTS Trader bot functions similarly to the Auto Scale-In feature discussed previously. However, instead of using points to scale in, this feature utilizes the preset bar's low + points to buy and the bar's high plus points to sell. It automates the process of scaling into trades based on predefined bar parameters, enhancing trading efficiency.


Operation:

  • Activation: The feature initiates either when a new position is established or when activated with a current position.

  • Deactivation: Users have the option to deactivate the feature during a live trade, at which point any associated orders will be automatically canceled.

  • Order Type: The app discerns the type of order to place based on the trader's current position. For example, if the trader is long the market, buy limit orders are placed below the preset minute charts, plus points, and vice versa for short positions.

Customizable Settings:

  • Current Bar: Users can choose to utilize the current bar's high or low for order placement. If unchecked, the app will use the previous bar's high or low.

  • Behavior on Bar Close: This setting offers three options:

    1. Replace Order: On each new bar, the order will be moved.

    2. Add to Entry: The first order to buy will be retained, and a new order will be added on each new bar.

    3. Do Nothing: The first order placed will remain at the same spot until filled or canceled.

  • Wait Time To Place Order: Users can opt to enable a wait time before placing new orders, allowing for additional flexibility in trade execution.


Conclusion: The Auto Scale-In | Bar Hi/Lo + Points feature enhances trading automation in the OTS Trader bot by facilitating order placement based on preset bar parameters. With customizable settings for bar selection and order behavior, users can tailor the feature to suit their trading strategies and preferences effectively.



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