I want to connect MultiCharts to an exchange where the stop order is not supported
so I'm wondering the mechanism of the "Unfilled Strategy Order Replacement" behind the scenes.
Is it the way it works as follows?
1. When a stop order is sent, the chart sends it to the broker via the broker plugin.
2. When the price of the stop order is crossed, the chart starts a timer to check whether the order is filled or not.
3. If the order is filled, just leave it as is and stop the timer.
4. If the order is not filled and (the timer is expired or the bar is closed),
the chart cancels the stop order via the broker plugin and then sends a market order immediately.
Am I right on the order flow?
Thanks a lot!
How does "Unfilled Strategy Order Replacement" work?
- TJ
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I want to connect MultiCharts to an exchange where the stop order is not supported
so I'm wondering the mechanism of the "Unfilled Strategy Order Replacement" behind the scenes.
Is it the way it works as follows?
1. When a stop order is sent, the chart sends it to the broker via the broker plugin.
2. When the price of the stop order is crossed, the chart starts a timer to check whether the order is filled or not.
3. If the order is filled, just leave it as is and stop the timer.
4. If the order is not filled and (the timer is expired or the bar is closed),
the chart cancels the stop order via the broker plugin and then sends a market order immediately.
Am I right on the order flow?
Thanks a lot!
This might give you an overview:
Order Types
https://www.multicharts.com/trading-sof ... rder_Types
- TJ
- Posts: 7775
- Joined: Aug 29 2006
- Location: Global Citizen
- Has thanked: 1036 times
- Been thanked: 2233 times
Getting Started with AutoTrading
https://www.multicharts.com/trading-sof ... utoTrading
Auto Trading
Unfilled Strategy Order Replacement
https://www.multicharts.com/trading-sof ... eplacement
https://www.multicharts.com/trading-sof ... utoTrading
Auto Trading
Unfilled Strategy Order Replacement
https://www.multicharts.com/trading-sof ... eplacement
- TJ
- Posts: 7775
- Joined: Aug 29 2006
- Location: Global Citizen
- Has thanked: 1036 times
- Been thanked: 2233 times