Order type question

[lindsayf]

Is there any order type that provides the following functionality? ( I don't think so)

Example for a buy:

The order is placed above price but the buy is only triggered if price subsequently trades above it and then comes back down and touches or trades the order price.

A Buy limit does not do this as it cannot be placed above price
A Buy MIT does not do this as it cannot be placed above price
A Market buy does not do this - of course

I expect the answer is limited to placing the buy order after it has exceeded the level in question..Am I wrong?

[NinjaTrader_EricB]

Hello,

Thank you for writing in.

Glad to assist. This is possible via Stop limit order, which includes a limit price and tick offset value to help gain more control over how the order fills from the limit price. There are a number of ways to stop limit orders using NinjaTrader. I suggest reviewing the below, publicly available video from our help guide that covers the basics of order entry in NinjaTrader 8 along with a blog post on order types.

https://ninjatrader.com/blog/3-basic-order-types-explained/

https://www.youtube.com/watch?v=NpG_Q71yofs&feature=youtu.be

The below link to our help guide will have the complete NinjaTrader 8 video library and help guide. Most order entry windows have their own set of videos to help get you started.

http://ninjatrader.com/support/helpGuides/nt8/en-us/?video_library.htm

Let us know if we may assist further.

[lindsayf]

Thanks for that Eric.
Does your reply apply to orders being placed at bar close by a strategy while trading futures?
If so, could you give me an idea of how to implement using the strategy builder.
I currently just enter at bar close ie market long as that gaurantees an entry - but often with slippage. If I wanted to place a stop buy limit at close price how would I do that?
thanks
Lindsay

[NinjaTrader_PaulH]

Hello Lindsay,

Thanks for your reply.

Yes, you can place stop-limit orders with the strategy builder.

To place a buy stop limit, you would need to place it above the current price. For a sell stop limit, it would need to be placed below the current price.

In the order section of the strategy, you can select the stop limit type order (Buy or Sell).

Limit orders are not guaranteed to fill. If an entry order is not filled on the bar submitted, it will be automatically canceled.