Better order management request.

Questions about MultiCharts and user contributed studies.
Rommi
Posts: 9
Joined: 15 Sep 2010

Better order management request.

Postby Rommi » 20 Dec 2010

As you all know, order management is important especially when we using limit orders or scale in-out. Good order management gives much better chances for limit order execution because You order will be in front of others in orderbook.
Unfortunately Multicharts have not very good possibilities for good ordermanagement.
Multicharts problems regarding to ordermanagement:

1.On bar close all orders is removed and reset again.
This is major problem. If conditions for order remain, why order still will be removed-reset. Limit order lose its place in orderbook and chances for execution will be not so good anymore. Odds for good trade drops.

Suggestion: If conditions for order are true then order should not be removed-reset or add new type of orders, permanent orders.
Permanent orders will be set when conditions for that true and removed when conditions for removing/deleting are true. No remove-reset for this type of orders on bar close without change in conditions.

2. Control of orders execution. There is no way to control particular order execution.
i tryed to do that using changes in position but when You using "scale in"- "scale out", in codes, its really hard or impossible at all.

Suggestion: Order execution control function needed.

Function name - order_exec. Order_Exec("Order name") return current position executed amount(- for short, + for long) from entry("order name"). Return 0 for no execution. If we using ,for closing position, from entry("order name") it return position left from entry ("order name").

Example: we are long ES 4 contacts from entry "L_1" and long ES 3 contracts from entry "L_2".
Order_Exec("L_2") returns 3.Order_Exec("L_1") returns 4.

After
Sell ("L2_Out") next bar from entry ("L_2") at LT_Order2 limit; executed 2 contracts
Order_Exec("L_2") returns 1. Order_Exec("L_1") returns 4.

Thanks
Roman

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Dave Masalov
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Re: Better order management request.

Postby Dave Masalov » 21 Dec 2010

Dear Roman,

Thank you for your suggestions. We will consider them for future implementation.


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