Strategy Builder Order Management

[hdge4u]

When using the strategy builder's order handling constraints, how do I interact with the Stop Limit and Market if touched trade execution requirements? I attached screen shots of the fields in question. ie. [Enter Long Position by a Limit Order or Market if touched] The order handling is asking for stop prices and limit prices. What does that field mean or control? Is that in Points, Ticks, Currency? I want to better understand those fields and how they impact order handling.

[NinjaTrader_Jim]

Hello hdge4u,

Thanks for your post.

A Limit order fills at the limit price or better if the current market price allows filling the order at a better price. I.E. buying a contract for less than the limit price.

Stop Market orders execute a market order when the current market price touches the stop price.

A Stop Limit order combines the two so once the stop price is hit, the order is converted to a limit order at the limit price.

Market If Touched is a synthetic order (does not reach exchange, is held locally or by supporting brokers like IB and Rithmic) that works similarly to Limit orders, but instead of having a resting order, a Market order is submitted when the current market price is at the limit price or better.

A publicly available resource on order types can be found here - https://www.investopedia.com/ask/answers/04/022704.asp

Market If Touched orders - https://ninjatrader.com/blog/hide-or...ed-orders-mit/

Order submissions prices are relative to points. Similarly if I were to manually place a limit order at 3795 on MES 03-21, this would be the same as submitting a limit order to 3795 from a script.

We look forward to assisting.

[hdge4u]

This was a great video on Strategy Builder. https://www.youtube.com/watch?v=VxU4...el=NinjaTrader
at 48:24 would have liked to see more discussion on the additional order types. It was the only area that lacked discussion. what are the specs on the limit and MIT orders? do those stop and limit values have to be actual prices or can they be USER INPUT VALUES just like the STOPS and TARGETS section of the builder?

[NinjaTrader_Jim]

Hello hdge4u,

You can use a user defined input for the order price so the order gets submitted to that price.

Remember that strategies process their logic with each bar in the data series and will continue to process new bars as they come in. The strategy logic may determine an order should be submitted on X bar, but if you are using a User Defined Input for the price instead of determining a price based off current price action (I.E. placing a limit order offset from the Close price) the price level from your user defined input may not be at a valid level when that order submission takes place.

I.E. Our User Defined Input is 100 for a Sell Stop Market order, but the current market price is 500 when that order submission method is triggered. 100 would be an invalid price and the order will not be accepted.

If you would like to learn more about the different order submission methods, as well as the internal rules of the Managed Approach, please see the documentation below. (The Strategy Builder generates Managed Approach NinjaScript code.)

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

We look forward to assisting.