My requirement is simple Order: Buy nifty future if nifty future trades below 8600 (it may be 8599,8598.… .8590 ) Close buy position if nifty trades above 8600…

your condition is not clear, for placing entry and target you can also do with normal order type

For the above query you can check below Price Break AFL as example

/ //------------------------------------------------------------------------------ Title = Name()+ " Price Break Indicator." ; //+ " Trend is " + Trend_Text + ". SEQUENCE IS " + Sequence_Text; Plot(C,Title,colorBlack,styleCandle); ///////// Parameters //////// nBars_To_Scan = Param("Number of bars to Scan",20, 10,480, 10); //Number of bars to include in scan PB_Interval = Param("Number of Bars for Price Break",3,2,3,1); ///////// Use Array of Prices and Price Breaks to Look Back and Determine What Price Break is For Current Bar Seedbar = nBars_To_Scan + 1; //Need an initial value to start the PB process if (BarCount > Seedbar) //Make sure there are enough bars available to evaluate { Price[0]= LastValue(Ref(C,-Seedbar)); //Seed the 0 Bar in the Array with Values Trend[0]=1; //1 = Long, 0=Short Sequence[0]=0; //Sequence counter - counts number of new price breaks Price_Break[0] = LastValue(Ref(C,-Seedbar)); High_C1[0] = LastValue(Ref(C,-Seedbar)); //Highest Close 1 Ago High_C2[0]= LastValue(Ref(C,-Seedbar)); //Highest Close 2 Ago High_C3[0]= LastValue(Ref(C,-Seedbar)); //Highest Close 3 Ago Low_C1[0] = LastValue(Ref(C,-Seedbar)); //Lowest Close 1 Ago Low_C2[0] = LastValue(Ref(C,-Seedbar)); //Lowest Close 2 Ago Low_C3[0] = LastValue(Ref(C,-Seedbar)); //Lowest Close 3 Ago for ( i=1; i < Seedbar ; i++) //Cycle through prices filling in price array and caculating price breaks { Prior = i-1; //Index for Prior entry in array. Set the current array values to Trend[i]=Trend[Prior]; //prior values to make sure everything that isn't changed later Price_Break[i] = Price_Break[Prior]; //gets carried forward to the next row in the array. Low_C1[i] = Low_C1[Prior]; //Carryover current values Low_C2[i] = Low_C2[Prior]; Low_C3[i] = Low_C3[Prior]; High_C1[i] = High_C1[Prior]; //Carryover current values High_C2[i] = High_C2[Prior]; High_C3[i] = High_C3[Prior]; Sequence[i] = Sequence[Prior]; Price[i] = LastValue (Ref (C,-(Seedbar-i))); //Seedbar is the bar just in front of where I start the method. Works since i starts at 1 if (Price[i] >Price[Prior] AND Trend[Prior] == 1 ) // If Close is Greater than the prior close And the Trend is Long { if (Price[i] >High_C1[Prior]) //If the Close is greater than the last highest close { //Test For Price Break. The IIF is there to accomodate a 2 price or 3 price break option //based on the PB_Interval parameter Price_Break[i] = IIf(PB_Interval == 3,High_C3[Prior],IIf(PB_Interval == 2,High_C2[Prior],High_C3[Prior])); //The 3PB method says I take the highest close 4 ago as the new price break. Sequence[i] = Sequence[i] + 1; //Increment Sequence if Price Break High_C3[i] = High_C2[Prior]; //Stacking the higher closes like this avoids having to go back and iterate through the. High_C2[i] = High_C1[Prior]; //closes to find and count the higher closes. They are just carried forward in the stack. High_C1[i] = Price[i]; //When a higher close occurs, it is put on the top of the stack, each close below is } //pushed down in sequence, and the earliest (farthest back) close goes away. } if (Price[i] >Price[Prior] AND Trend[Prior] == 0 ) // If Close is Greater than the prior close And the Trend is Short { if (Price[i] >Price_Break[Prior]) //If Close > Price Break in trend is Short, Reverse and go Long { High_C1[i] = High_C2[i] = High_C3[i] = Price[i]; //Initialize sequence of new Highs Price_Break[i] = Price[i]; //Set new value for Price Break Trend[i] = 1; //Set the trend Long Sequence = 0; } } if (Price[i] <Price[Prior] AND Trend[Prior] ==0) // If The Close is less than the prior close And the Trend is Short { if (Price[i] <Low_C1[Prior]) //If the Close is less than the last lowest close { Price_Break[i] = IIf(PB_Interval == 3,Low_C3[Prior],IIf(PB_Interval == 2,Low_C2[Prior],Low_C3[Prior])); //Test For Price Break Sequence[i] = Sequence[i] + 1; //Increment Sequence if Price Break Low_C3[i] = Low_C2[Prior]; //Update sequence of new Lows Low_C2[i] = Low_C1[Prior]; Low_C1[i] = Price [i]; } } if (Price[i] <Price[Prior] AND Trend[Prior] ==1) // If The Close is less than the prior close And the Trend is Long { if (Price[i] < Price_Break[Prior]) //If Close < Price Break in Long Trend, reverse and go Short { Low_C1[i] = Low_C2[i] = Low_C3[i] = Price[i]; //Initialize sequence of new Lows Price_Break[i] = Price[i]; //Set new value for Price Break Trend[i] = 0; //Set Trend Short Sequence = 0; } } //// Plot the Price Breaks. Bar_x1=BarCount - (nBars_To_Scan - Prior ); Bar_x2=BarCount - ( nBars_To_Scan - i); PB_Color = IIf(Trend[i] == 1,colorGreen, colorRed); Plot(LineArray(Bar_x1,Price_Break[i],Bar_x2,Price_Break[i],extend=0),"",PB_Color,styleThick); Sequence_Text = NumToStr(Sequence,format=1.0); Trend_Text = WriteIf(Trend[i] > 0, "Long","Short"); } //Close the For Loop } //Close the first test for sufficient bars to do the study