Section 14 -
Buy Low Bar | Sell High Bar
When your goal is to initiate or close a market position, explore the possibility of attaining a Price Advantage fill price. You can do this by placing sell orders at the high of a specific bar or buy orders at the low of the bar. Furthermore, consider the automation of adding a predefined number of points above or below the bar's value, all achieved with a simple one-click action.
Features - Section 14 | Buy Bar Low / Sell Bar High
Two Button Functions:
1. **Bar Length and Additional Points Preset:**
You have the option to pre-set the bar length and additional points in the settings.
2. **Quantity Submission:**
The quantity submitted will be determined by the "Enter Qty" section.
3. **Precision in Order Placement:**
The application allows for the submission of an exact order above or below the current bar or the previous bars, a choice you can customize in the settings.
4. **Drag-and-Drop Order Placement:**
Once the initial order is placed, you can effortlessly drag and drop the order on the Chart Trader. The order will retain this adjustment.
5. **On/Off Cancel Functionality:**
- Upon placing the order, the button will turn gray, signifying the order has been placed.
- Toggling off this function, indicated by the button returning to its original color, will cancel the order associated with this function.
- If you activate the function again, the button and associated order will revert to the gray status, indicating it is active once more.
Settings - Section 14 | Buy Bar Low / Sell Bar High
To access the settings of the OTS Trader app, open the app, right-click on it, and select "Settings." From there, navigate to the "Section's" settings option.
Update Chart Time Frame:
Specify your desired time frame for the bar. For example, setting it to 30 will use a 30-minute bar. You have the flexibility to input two different settings.
- TF1These settings apply to the left buttons.
- TF2These settings apply to the right buttons.
The "Point Value" determines the number of points for placing an order above or below the bar's range. For instance, if you input 3 and click "Sell Bar's High," it will generate an order to sell at a price 3.00 points above the high of that bar.
Choose Between 'Same Bar' and 'Previous Bar' Options:
- If left unchecked, it will utilize the range of the previous bar.
- When selected, you will be using the range of the current bar.
Customize Button Colors:
On the left-hand side are vertical tabs. Select "UI Colors," and you can personalize the default color settings.
Strategies - Section 14 | Buy Bar Low / Sell Bar High
Several strategies can be implemented with this function:
1. **Order Entry for Precision Fill Prices:**
Utilize this function for precise order entry, reaching for fill prices with accuracy.
2. **Order Exits for Fill Price Levels:**
Employ the function for order exits, once again aiming for fill price levels with precision.
Implementing both of these strategies provides a distinct advantage over others who lack the convenience of one-click functions. This functionality streamlines the process of placing orders, enhancing your ability to execute these types of orders with ease.