Good day,
I’m looking for trader manager that would allow placing orders of such type:
Current Price at 100
Buy order at 90. Order will be placed automatically only when prices crosses down the 90 and then reverses back up to cross 90 again (here order is triggered).
Same for sell orders but in opposite direction.
Would be nice to have extra level feature like:
- current price 100
buy order placed at 90
extra level 80.
buy 90 Order is triggered when price crosses 90 then 80 then reverses back up to 90 (now order placed).
Did anyone hear about such addons?
Many thanks
Your trigger is a two-stage state machine, not a standard limit order. For a buy: keep 90 armed, but do not submit when price first crosses 90 downward. On a tick below 90, set wentBelow=true and store the lowest price, or require the extra level 80 if configured. Submit only when price crosses back above 90 after that condition. Clear the state on a session or instrument change, or when the setup expires. If the extra level is 80, require low <= 80 before the upward cross; otherwise require only low < 90. Use one signal name and OCO group per setup. Log armed, wentBelow, rearmed, submitted, rejected, and filled with the timestamp and order ID. Do not use bar-close logic when the rule is a tick cross. Test gaps and a restart, because the armed state must be restored or cancelled deterministically.
Hi Shurique - the logic you describe is a well-defined two-stage trigger, so it is very buildable even though it does not exist as a stock order type. As the earlier reply said, it is a state machine rather than a plain limit order: for the buy side, the order at 90 stays armed while price first trades down through 90; it submits only after price has traded below the trigger (and below your optional extra level at 80 when set) and then crosses back up through 90. Sells mirror it.
The details that decide whether this survives real trading: tick-level crossing detection rather than bar-close (OnMarketData, or Calculate.OnEachTick), one OCO group per setup, per-session arming, and deterministic behaviour across restarts and gaps (armed state either restored or cancelled, never silently lost). If you tell me the instrument and timeframe you trade and whether the levels are fixed prices or chart anchors, I can sketch the state machine here.
Software development only, not financial advice. Test on sim before live.