TC2000 Help SiteTrading Stocks & Options Trading StocksHow to Place A Buy Order With An Indicator

How to Place A Buy Order With An Indicator

Placing a buy order based on a indicator allows TC2000 to automatically modify the order up (or down) the trajectory of the indicator. This provides the opportunity to follow a stock's movement and attempt to buy it within the natural movement of its trend. Below are the steps to placing this kind of order.

1. To place a Buy order using an Indicator, click the Buy button at the bottom of the price pane.

From the drop down menu choose Buy {Sym} at Indicator

2. From the list, select the Indicator to use for the order.

This initiates an Indicator order and the AutoTrack feature needed to automatically modify the Indicator order.

3. This places a Buy Limit order ticket on the chart with the initial order being placed at the price level represented by the Indicator (in this example, 20-bar simple moving average) under the last bar on the chart.

To create space between the actual order price and the indicator, click and drag the order line to the desired distance. This distance will be maintained as the order is modified with the indicator. (Optional)

4. Since an Indicator has the potential to move up or down an unlimited amount, use the Max (maximum) control in the price scale to create an absolute maximum to which the order can be modified. (Optional)

5. The trajectory of the Indicator into the future will serve as the path by which the order will be automatically modified.

6. The order ticket for this type of order has the AutoTrack icon highlighted in blue.

Click the AutoTrack icon to set the interval at which the order will be modified.

AutoTrack Example: Minute (interval)--every 60 seconds TC2000 checks to see if the trajectory of the indicator has moved up (or down) enough to represent a new price level (even by a penny). If a new price level has been reached, the order is modified to that new price level.

7. Click the Buy {Sym} button.

Click Place Order to confirm and submit the indicator buy order.

8. A live buy order now exists on the chart

This order will automatically modify along the trajectory of the indicator at the selected interval. If the stock price moves down and hits the modified Buy level the order may be filled.

Indicators that can be used to place orders to buy, sell or close are indicators based on price (child indicators):

  • Moving Averages (any type)
  • VWAP (Volume Weighted Average Price)/Moving VWAP
  • Bollinger Bands
  • Donchian Channels
  • Envelope Channel
  • Keltner Channels
  • Acceleration Bands
  • Time Series Forecast
  • Ichimoku Cloud
  • Linear Regression Line
  • Parabolic SAR
  • Volatility Stop
  • Pivot Points
  • Williiams Alligator

 

The trading tools work on either a LIVE brokerage account or a PAPER (simulated) trading account. Live market trading requires an account with TC2000 Brokerage (www.TC2000Brokerage.com).