Make more precise limit orders with automated trading ninjatrader 8

[wbayne333]

As it is (as far as I know) you can only place a market order with automated trading. Is there a way to create a limit order at the moment an alert is triggered instead of a market order? Market orders are so not precise and given the close tolerances in automated trading (I'm doing) my spreads are usually too wide. Thanks in advance for your answer.

[NinjaTrader_BrandonH]

Hello wbayne333,

Thank you for your post.

A NinjaScript strategy is able to place Market orders, Limit orders, Market-If-Touched orders, Stop-Market orders, Stop-Limit orders, and more. Please see the help guide documentation below for more information about the different order types you are able to use.

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

To place a Limit order at the same time an alert is triggered instead of a Market order, you could create a condition in your script that when it becomes true will trigger an Alert and place a Limit order using EnterLongLimit/EnterShortLimit.

This could be accomplished using the Strategy Builder. In the Strategy Builder, you would navigate to the Conditions and Actions screen, create a condition for your Alert and Limit order in the Conditions section, then set an Alert action followed by calling EnterLongLimit/EnterShortLimit. After setting this up in the Strategy Builder you could view the code to accomplish this by clicking the 'View code' button in the Strategy Builder.

See the help guide documentation below for more information.

Strategy Builder Conditions - https://ninjatrader.com/support/help...on_builder.htm
Strategy Builder Actions - https://ninjatrader.com/support/help...eActionsWindow

Also, here is a link to our publicly available training videos, 'Strategy Builder 301' and 'NinjaScript Editor 401', for you to view at your own convenience.

Strategy Builder 301 — https://www.youtube.com/watch?v=_KQF2Sv27oE&t=13s

NinjaScript Editor 401 - https://youtu.be/H7aDpWoWUQs?list=PL...We0Nf&index=14

Please let us know if we may assist further.