This demonstrates how to analyze the bar direction of the signal bar to determine which price a limit entry order will be placed at. For this example, the entry order is basically to be placed for a pullback in price when a signal occurs. If a long signal occurs on an up bar, then place the limit entry order at the previous bar’s closing price (to wait for a pullback). If a long signal occurs on a down bar, then place the limit entry order at the current bar’s closing price. The down bar is considered the pullback in price. The opposite conditions are used for short signals. The key to this is using the Place After and Cancel After options within the entry order menu.
BlackBird Template
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