Does Exit On Close actually close orders at 4 p.m.?

[brdavis98]

Sorry if this is a dumb question, but I do not wish to carry anything into the closed hour of 4-5 p.m. (Central time).

So in my strategy, if I've got CME Futures ETH selected, will an order actually execute closed at 4:00:00 or will that be counted against me by the broker for overnight margin? I use Ninjatrader for the brokerage, if that helps.

[brdavis98]

Or, better question, what's the easiest way to add in conditions that say "close at 3:45 p.m." Is that just a time condition??

[NinjaTrader_BrandonH]

Hello brdavis98,

Thanks for your post.

IsExitOnSessionCloseStrategy and ExitOnSessionCloseSeconds could be used to exit your positions a set amount of time before the close of the session.

IsExisOnSessionCloseStrategy: https://ninjatrader.com/support/help...sestrategy.htm
ExitOnSessionsCloseSeconds: https://ninjatrader.com/support/help...oseseconds.htm

Note that Exit On Session close logic executes once. If your strategy doesn't specifically limit taking trades after that point, it's possible that a trade could be taken after Exit on Session Close logic executes.

See the example scripts shared by my colleague Chelsea on this forum thread demonstrating how to prevent entries after Exit On Session Close: https://forum.ninjatrader.com/forum/...ose#post100666

Please let me know if I may assist further.

[QuantKey_Bruce]

Which brings up a point - to limit the strategy from taking further trades after it's in the "exit on close" time period, there really should be a simple property for "IsExitOnCloseTime" that returns true in the last "ExitOnSessionsCloseSeconds" of the session - otherwise, one has to set up an iterator and calculate this in the code but it's such a common and obvious task there should just be a property for this so the strategy can simply add "&& !IsExitOnCloseTime" to the entry conditions. Or, perhaps managed orders should simply be ignored when the strategy is set to IsExitOnSessionCloseStrategy and it's in the exit on close time period.

[QuantKey_Bruce]

Not placing orders when it's in "close at the end of the session" is such a common need it really should be the default behavior that managed entry orders, at least, are ignored, and you should have to set an override property like "IsAllowedToEnterAfterClosingTime" which basically no one would do because that does not make any sense unless it's some extraordinary special situation. If you want to trade through the close, you should not be setting IsExitOnSessionCloseStrategy, and if you are setting that, you should be protected from accidentally entering then.

[NinjaTrader_BrandonH]

Hello QuantKey_Bruce,

Thanks for your notes.

We are currently tracking interest in the ability to ignore entry orders after the ExitOnSessionClose event occurs and I have added your vote.

This request is being tracked under the number SFT-5585.

As with all feature requests, interest is tracked before implementation is considered, so we cannot offer an ETA or promise of fulfillment. If implemented, it will be noted in the Release Notes page of the Help Guide.

Release Notes — https://ninjatrader.com/support/help...ease_notes.htm

Please let us know if we may be of further assistance to you.