Instand At Market Order Execution once a condition is fullfilled

Viewing 5 posts - 1 through 5 (of 5 total)
  • Author
    Posts
  • 02/23/2018 at 11:42 AM #63646 quote
    Alberto Lucchese
    Participant
    Average

    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

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

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

    buy 1 contract at average[20] limit

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

    buy 1 contract at average[20] STOP

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

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

    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.

    Triggered-by-MA.png Triggered-by-MA.png
    09/27/2020 at 11:49 AM #145510 quote
    Ari_Trader
    Participant
    New

    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.

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

    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.

  • Author
    Posts
Viewing 5 posts - 1 through 5 (of 5 total)
  • You must be logged in to reply to this topic.

Instand At Market Order Execution once a condition is fullfilled


ProOrder: Automated Strategies & Backtesting

New Reply
Author
author-avatar
Alberto Lucchese @gsmrules Participant
Summary

This topic contains 4 replies,
has 3 voices, and was last updated by Nicolas
5 years, 5 months ago.

Topic Details
Forum: ProOrder: Automated Strategies & Backtesting
Language: English
Started: 02/23/2018
Status: Active
Attachments: 1 files
Logo Logo
Loading...
Do you like cookies? 🍪 We use cookies to ensure you get the best experience on our website. (Learn more)
©2026 ProRealCode - Trading & Coding with ProRealTime™