I use IB TWS and want to automatically exit a position when its intraday moving average is violated (basically this is a trailing stop). Is there a way to do this without spending thousands of dollars on custom software? (I have already programmed this into thinkorswim).
You can actualle have a trailing stop in TWS. What makes your idea specific so that ity does not work in TWS?
Hi Gldr, in TWS the stop can trail by a fixed percentage or a dollar amount. I want the trailing stop to be a moving average. Is there a way to do that?
Have you considered contacting ninjatrader or multicharts and asking them directly? They are the two main retail solutions.
Hi GoldenMember, no I haven't but will do so. I was under the impression that Sierra Chart and Amibroker were the two main retail solutions for IB frontends.
See if you can port the ThinkorSwim logic you programmed into IB's API and write your own little program. https://www.interactivebrokers.com/en/index.php?f=5041
I suggest you check out Sierra Charts Spreadsheet Trading. I don't use that myself, but use the spreadsheets extensively for a variety of other stuff. I would think what you want to do is fairly easily achieved in SC. If you are a user or just want to know more, their forum is pretty good so ask there. http://www.sierrachart.com/index.php?page=doc/doc_SystemsAlerts.php