EnterLongLimit... and keep updating that order!

[MXASJ]

Hi Ninja Team,

This one has me scratching my head. I want to EnterLongLimit at the EMA, and have my Limit order update if the EMA rises.

if (goLong)
    {
    EnterLongLimit(EMA(8)[0], "Long 1a");
     {
     if (Position.MarketPosition == MarketPosition.Flat && EMA(8)[0] > EMA(8)[1])  EnterLongLimit(EMA(8)[0], "Long 1a"); 
     }
 
    } 

That code doesn't look right... and isn't working. Is there a simple way to do this without going the IOrders route? What I don't want is to cancel/replace on every bar, but instead only cancel/replace the limit entry to the new EMA level if the EMA is rising.

Thanks!

[NinjaTrader_Bertrand]

MXASJ, per default orders expire at the next OnBarUpdate(), however you can also send liveUntilCancelled and then just update / resubmit if needed (your limit price changing and still not in position) -

EnterLongLimit(int barsInProgressIndex, bool liveUntilCancelled, int quantity, double limitPrice,string signalName)

http://www.ninjatrader-support.com/HelpGuideV6/EnterLongLimit.html

[MXASJ]

Thanks Bertrand!

What's doing my head in is this:

if (goLong)
{
EnterLongLimit(0, true, posSize, EMA(8)[0], "Long 1a");

} 

Should work (testing it now), but the EnterLongLimit price will not be resubmitted until goLong == true again, even if the EMA has risen in the mean time. Its like I need seperate logic where:

if a working limit order is in place and the current EMA(8) is greater than that limit order price, new limit order price = EMA(8)[0].

That's where I'm wading out of my depth and am open to any and all suggestions. The logic of "if a working order is in place" is where I'm stumbling.

Thanks.

[NinjaTrader_Bertrand]

I'm not sure how you've setup your GoLong condition, but couldn't perhaps use two conditions, one for the initial setup, and one to adjust then if the EMA value changes - if you submit the limit order again (old one working) it would just amend / change the already working order.

[MXASJ]

Danke Bertrand,

I understand and have already been playing with a new "beLong" as well as the existing "goLong" condition.

One last question though... if my EMA/limit is at, say 1.2575 and on the next bar it is still at 1.2575, will it cancel/replace at the same price (sending me to the back of the queue) or will it be smart enough to know the price has not changed and not cancel/replace?

I've tried looking at the logs to check the behavior if the bar-to-bar EMA/Limit price remains unchanged but its hard work. Many thanks for your time.

[NinjaTrader_Bertrand]

You're welcome, it should not replace this order then, as there's already an identical one working I believe - best is to enable TraceOrders to look under the 'hood' and debug your individual order behaviour -

http://www.ninjatrader.com/support/forum/showthread.php?t=3627