Disliked{quote} I'm not familiar with limit-stop orders. Gonna look into it. Maybe Ninjatrader provides functionality to at least simulate it. ThanksIgnored
Let's assume E/U is at 1.1785 (using some numbers from yesterday) and you would like to go long from 1.1775, a simple limit order would initiate a long position at that price. Where as a limit stop order would place a buy stop order somewhere above (you define the spot), let's say 1.1778. So the price has to hit your limit first and then retrace to that price in order to open a position. If the price just breaks the structure you were expecting to hold and goes straight down your trade won't get triggered.
So you would be playing with a certain kind of PA, something you already do with the rotation candle, as it is exactly the same. No matter how the candles look. You have 233 different variations on 233 of those 2 or 3 candles you are looking at on a 233 tick chart (depending on the timing of your tick chart), even if the PA is exactly the same, and it's about luck how it looks that time and if it pleases you enough to take the trade.
Pros and cons again, but fits with fading the moves.
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