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Automated Trading

If your trading platform supports automated trading, basic trading systems based upon an indicator identifying a Supply or Demand event can be created using each indicator’s Study Supply Condition and Study Demand Condition Output Signals as described in the previous section Indicator Alerts.

You can use more advanced logic for automated trading systems (and alerts) by making programmatic use of the EmojiZone price levels and states as explained in the Accessing EmojiZone Data section of this guide.

Each trading platform has a different approach to automated trading, however the principles of evaluating data are the same. Indicators that visualize using EmojiZones can provide access to the EmojiZone price levels in each state that are nearest to the current price.

EmojiZone states are:

  • New Demand
  • Continuing Demand
  • Exhausted Demand
  • New Supply
  • Continuing Supply
  • Exhausted Supply

The New Demand and New Supply price levels will populate in real-time as soon as a new Supply or Demand Event has been identified. Example uses of these price levels are to place market, limit or stop orders in proximity to the price levels of the New Demand or New Supply events to enter trades as soon as these events occur or upon a retracement.

You can also use the New Demand and New Supply price levels to assess whether the market has tested a New Demand or New Supply level and it has held. Be mindful that you may wish to create automated trading rules that assess the nearest and the next nearest ‘New’ levels to take account of new ‘New’ levels appearing intra-bar. A typical example evaluation to enter a long position upon the retest of an existing ‘New’ level would be:

  • if the current bar low is not lower than 1 tick below New Demand…
  • …and the current bar low is not higher than 1 tick above New Demand…
  • …and the current price is greater than or equal to 1 tick above New Demand.

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