Simulated stops for entry orders?

[Boonfly8]

Is there a way for an order similar to MIT where it will send a market order at the bid/ask spread if volume drops below certain amount?

[NinjaTrader_JoshG]

Hello Boonfly8,
Thanks for your post.

There is not a specific order type that submits at the ask/bid spread. There would also be a number of ways to submit an MIT order when a certain volume condition occurs.

How are you hoping to submit your orders? Manually? Through an automated strategy?

[Boonfly8]

Hey Josh,

Thx for the note. I was thinking of seeing how it would do in an automated strategy first. I guess what a developer can do is if the bid entry is like at some SMA[0] value and the market get to the entry, some pusedo code could be like first check if the market is a 1 tick spread for validation, then send a limit order at the ask price if GetAskVolume is below some threshold.

What do you think?

[NinjaTrader_JoshG]

That could be a viable approach. If you want to try creating the strategy yourself let me know.