Study Documentation:
Universal Entry Management v1.1
Study Description
Universal Entry Management moves a pending entry order and its optionally attached bracket orders along with an indicator. For example, you can move an entry limit order along with a trendline or moving average to catch a pullback. Or you can move an entry stop-market order the same way to grab a break out. An optional offset to the referenced indicator can be set. Protection has been built into the program not to move an order to any level where it may immediately fill (eg. other side of the market). In such a case no adjusment will happen. Learn more.
This tool cannot be used to manage stop exit or target orders! This can only manage entry orders.
Universal Entry Management will only work when Auto Trading is enabled!
Always monitor your trades!
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Input Descriptions
| Input Name | Input Description |
|---|---|
| Enabled | When enabled the pending order will be moved to the referenced indicator level. |
| Subgraph to track | Referenced indicator. You can have an indicator from an other chart by using the Study/Price Overlay indicator. |
| Entry type to manage | If you use only one Universal Entry Management tool this can be left Auto. Otherwise you can specify which direction this tool manages. Auto means that any pending order will be managed. However, this tool will not move any order to the opposite side of the market! This avoids immediate fills. |
| Order offset (ticks) | The pending order will be placed this many ticks away from the referenced indicator level. The value can be both positive and negative. |
| Reverse offset for short orders | When enabled the Order Offset will be reversed for short orders. For example, a -2 ticks for long orders which will place the pending order below the referenced indicator to catch a spike through. When Reverse Offset is enabled the opposite will be the case for short orders and -2 ticks becomes +2 ticks to place the pending order above the indicator level. However, if Reverse Offset is disabled -2 ticks will be used for short orders too which results in placing the order lower than the indicator level and so moving it closer to the market instead of away from it, as it was for long orders. |
| Minimum distance to market | Do not move the pending order closer to the last price than this amount of ticks. Referenced indicator value can reach the last price and an immediate fill might be unwanted. |
| Use subgraph value of N bars back | With this setting you can use an earlier level of the indicator. For example, when this is set 1 then the value for the previous bar will be used. When set to zero keep in mind that the current bar may move the indicator’s value back and forth! |
| Adjustment event | Manage the order at every N second or on the bar close only |
| Adjustment frequency (seconds) | When Adjusment Event set to Every N Seconds this amount of seconds will pass before the next order management attempt. |
| ACS Tool # ToolBar button for Enable/Disable | You can put ACS Toolbar Buttons to the Control Bar on the top of the window. Then you can enable/disable this tool by clicking that button. Learn more how to add the button. |
| Detailed logging (for debugging) | Set to yes if you want to see the order management steps in the Message Log (Ctrl-M). |
| Label text | This label will be displayed when the order management is active. |
| Label font size | Size of the label font. |
| Label horizontal position | Relative horizontal position inside the chart window (1-150) |
| Label vertical position | Relative vertical position inside the chart window (1-100) |
Example Image
Universal Entry Management – UEM