Rule for Current market price

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amincredible
Posts: 2
Joined: Mon Nov 28, 2022 3:39 am

Rule for Current market price

Post by amincredible »

Hi team,

I would like to set a rule where when price reaches the 60 SMA Close, it will trigger an action, is there a price value rule for current market price?

Example,
SMA 60 Close = Current Market Price, Action: Close All pending orders or close order(Stop Loss)

this would be helpful too for when price reaches a fractal indicator, i can execute a buy/sell order.

Thank you
Regards,
Amin
Admin
Site Admin
Posts: 127
Joined: Mon Feb 21, 2022 3:03 pm

Re: Rule for Current market price

Post by Admin »

Hello,

At the moment, we have the Open, High, Low, Close price value rules.
Depending on your needs, the extreme values (High or Low) can be used or the Close value.

For your example, it would be "Close of Last bar < SMA 60 Value", in order to trigger the action when the price is below the SMA60 value.

But if needed we can add the Bid or Ask value as Rules. This can be added easily and this will allow you to have the current market price, no matter the timeframe you currently use.
For information, the current market price at any moment is the Close value of all lowest timeframe. For example, if you are on H1 timeframe, the market current value is the close of the last H1/M30/M15/M5/M1 candle. But for higher timeframes, where the candle is not finished to print fully (ie : D1), you can't have the current market price indeed.
amincredible
Posts: 2
Joined: Mon Nov 28, 2022 3:39 am

Re: Rule for Current market price

Post by amincredible »

Hello admin,

Yes that would be a great feature to add the bid and ask values as rules. Furthermore, I didn’t thought of that to use the lower timeframe candle OHLC values. Thank you very much for your help!
martinboye
Posts: 13
Joined: Sun Dec 04, 2022 2:59 pm

Re: Rule for Current market price

Post by martinboye »

I am considering purchasing NakedMarkets.

A Current Price rule would definitely be good to have.

I would like to automate closing a position when price reaches a certain level. Fx on the daily chart: WHEN price touches the 20 SMA THEN close the position, without having to ways for the daily bar to close.

Also a Current Price rule could be used to enter a position. Fx: WHEN price exceeds the highest high of the past 20 bars on any timeframe THEN open a position.
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