Canceling an Order

[Seastragg]

Hi,

I've been looking through different strategies that people have posted and I ran across this code that I can't quite understand what's going on. Can anyone explain what this code does?

private void CancelEntryOrder()
{
if (entryOrder == null) return;


if (entryOrder.OrderState == OrderState.Filled) {
if (entryOrder.IsLong)
ExitLong();
else
ExitShort();
}
else {
CancelOrder(entryOrder);
}

ResetState();
}

[NinjaTrader_Jim]

Hello Seastragg,

Thanks for your post.

This is custom code someone has written to close a position and cancel a pending entry order. The code is using Order objects to track the strategy's orders.

To better understand this code, I would recommend viewing our SampleOnOrderUpdate strategy which demonstrates how Order objects can be used as well as how Order object assignment can be done with the OnOrderUpdate method.

SampleOnOrderUpdate - https://ninjatrader.com/support/help...and_onexec.htm

Documentation for the NinjaScript methods that are in this snippet are linked below. (ResetState() is a custom method used in the snippet.)

ExitLong() - https://ninjatrader.com/support/help.../?exitlong.htm
ExitShort() - https://ninjatrader.com/support/help.../exitshort.htm
CancelOrder() - https://ninjatrader.com/support/help...ancelorder.htm
Order objects - https://ninjatrader.com/support/help.../nt8/order.htm

For a more general overview on NinjaScript strategies, please see the Managed Approach documentation.

Managed Approach - https://ninjatrader.com/support/help...d_approach.htm

Please let us know if we can be of further assistance.

[Seastragg]

Hi Jim,

That sample is perfect! I'm looking through it now, thank you for the sample, this really helps!


Cheers,
Seastragg

[Seastragg]

I have a followup question though. Which one is the one to close a position, and which one is to close a pending order?

Cheers,
Seastragg

[NinjaTrader_Jim]

Hello Seastragg,

ExitLong and ExitShort close the position and cancel active entry orders. This is called in the snippet when entryOrder is filled.

CancelOrder cancels entryOrder and is called when CancelEntryOrder is called and entryOrder is not filled.

We look forward to assisting.