[rublizz]

Hi guys,

How to enter pending order that is valid all day or until canceled in tradestation ?
Now "buy stop/limit" order are valid only one second bar and if not executes they are canceled.

[Jeff65]

Originally Posted by rublizz »

Hi guys,

How to enter pending order that is valid all day or until canceled in tradestation ?
Now "buy stop/limit" order are valid only one second bar and if not executes they are canceled.

Orders are placed on the next bar. That's is, the bar after the bar that just closed.

This is how I would do it. After determining my buy level I turn on a flag. Each time the current bar closes and my order is not filled, the order is replaced. If order is filled, my flag is disabled. At the end of day, my flag is disabled and all unfilled orders canceled.

Let me know if you want me to post a code example.

[rublizz]

Originally Posted by Jeff65 »

Orders are placed on the next bar. That's is, the bar after the bar that just closed.

This is how I would do it. After determining my buy level I turn on a flag. Each time the current bar closes and my order is not filled, the order is replaced. If order is filled, my flag is disabled. At the end of day, my flag is disabled and all unfilled orders canceled.

Let me know if you want me to post a code example.

I get the concept.
But how can I catch bar close event?

Code would be good.

[Jeff65]

Originally Posted by rublizz »

I get the concept.
But how can I catch bar close event?

Code would be good.

The code example of an Open Range Breakout system may help. Execute it on a 5-minute chart. I wrote it for the futures market but can be adapted to other markets. Orders are based upon the first 30-minutes of trading and remain active all day.

Let me know if you have questions.

// Example Open Range Breakout
// Executed on a 5-minute bar
// Order levels are based upon first 30-minutes of trading.
// Order levels and stop levels remain valid all day.

variables:
MP(0),
HH(0),
LL(0);

MP = MarketPosition;

{
----------------------------------------------------------
First 30 minutes of Market Open
Compute Opening Range 830 - 900 Central
----------------------------------------------------------
}

If ( Time = 900 ) Then
Begin    

   HH  = Highest( High, 6 );
   LL  = Lowest( Low, 6 );

  
End;

{
----------------------------------------------------------
Place orders between 900 and 1455 Central
Place only one trade per day
----------------------------------------------------------
}

If ( Time >= 900 ) And ( Time <= 1455 ) And ( MP = 0 ) And ( EntriesToday(Date) = 0 )  Then
Begin
   Buy ("LE") next bar at HH stop;
   Sellshort("SE") next bar at LL stop;
End;

// Set stop levels at opposite range

If ( MP = 1 ) Then Sell next bar at LL stop;
If ( MP = -1 ) Then Buy to cover next bar at HH stop;

// Exit all trades at 1500 Central
   
If ( Time = 1500 ) And ( MP <> 0 ) Then
Begin
   Sell this bar at close;
   Buy to cover this bar at close;
End;

[rublizz]

Thanks Jeff65.

But isn't better to use "LimitOrder" function?

[swansjr]

Originally Posted by rublizz »

Thanks Jeff65.

But isn't better to use "LimitOrder" function?

I don't know if it's better, but it looks like you could use it. There are many ways to place order. I don't have much experience with using that function so I can't comment on the pros/cons of using it.

[Jeff65]

Originally Posted by rublizz »

Thanks Jeff65.

But isn't better to use "LimitOrder" function?

I've never used that function. But yes, there are many ways to accomplish a single task.