Instand At Market Order Execution once a condition is fullfilled

• 02/23/2018 at 11:42 AM #63646
  Alberto Lucchese

  Hi,

  I have been reading the ProOrder manual and realized that, according to the introduction, all orders will be executed only after the close of the candlestick. I’m working on a strategy that requires a Market order to be triggered once a condition is met. This condition may be for example the touching of a moving average: if price touches at any time the moving average then trigger the order. Then it seems that such a strategy cannot be implemented through Prorealtime as perhaps this condition will be fulfilled before the candlestick closes.

  If my understanding is right, and this cannot be implemented with ProOrder, then is there any alternative to program the triggering of such an order or do I need to enter it manually when the condition is met?

   

  thanks

  

  Alberto Lucchese

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  02/23/2018 at 12:01 PM #63653
  Nicolas

  You can use PENDING ORDERS. Example, for a buy order, triggered by a moving average set below the actual price:

  LIMIT ORDER

  buy 1 contract at average[20] limit

  1	buy 1 contract at average[20] limit

  with a moving average above the actual price, use STOP order instead:

  STOP ORDER

  buy 1 contract at average[20] STOP

  1	buy 1 contract at average[20] STOP

  This kind of order remains 1 bar at market, so you’ll have to renew them continuously.

  

  Nicolas

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  02/23/2018 at 3:00 PM #63693
  Alberto Lucchese

  Thank you Nicolas!

   

  I’ll try this way, but in this case this limit/stop order will be executed tomorrow if  today the condition is met with  the moving average value of today. Thing is i need something realtime, once the condition is met, trigger the order. As you can see below, if i use the buy limit of today, it may not work for tomorrow candlestick.

  

  Alberto Lucchese

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  09/27/2020 at 11:49 AM #145510
  Ari_Trader

  Hi Alberto,

  do you still have the same question? I would say that this is not possible. You can just set a limit/buy order at the moving average of the previous day.

  If the price hits intermarket condition your order will be executed.

  

  Ari_Trader

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  09/28/2020 at 9:22 AM #145627
  Nicolas

  You can use a lower timeframe to put the pending order on the previous daily price level, in the first minute of the new day.

  

  Nicolas

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