Limit Turn
Last updated
Last updated
Limit Turn Order Algorithm
Buy Limit Turn --- is a trigger order, after triggering of which, a limit order is placed. When the market reaches the trigger price, the algorithm for order placement conditions is activated:
When the trigger price is reached (example: in the time period parameters, H1 is selected), the trigger waits for the price to be closed at H1, the price has been closed above the trigger at H1 (in this case, the tool price did not cross the level of cancellation), the Buy Limit order is placed at the trigger price.
When the trigger price is reached (example: in the time period parameters, H1 is selected) the price has been closed at H1 below the set trigger, but has not reached the cancellation level, the Buy Limit order is in standby mode until the price at H1 is closed above the trigger. As soon as the price is closed higher, the Buy Limit order is placed at the trigger price (provided that the tool price has not crossed the cancellation level, crossing the cancellation level cancels the order).
When the trigger price is reached (example: in the time period parameters, H1 is selected) the price at H1 has been closed below the trigger and crossed the cancellation level, the Buy Limit order is canceled.
Order execution is possible only when there are funds on deposit and the market reaches the trigger price. Partial order filling and subsequent closing of a partial order by Take Profit leads to canceling an unfilled order.
Note: the Buy Limit Turn order does not block the deposit.
An example of how an order works - the algorithm has triggered, the order has been placed.
An example of how an order works - the algorithm has triggered, the order has been cancelled.
Sell Limit Turn --- is a trigger order, after triggering of which, a limit order is placed. When the market reaches the trigger price, the algorithm for order placement conditions is activated:
When the trigger price is reached (example: in the time period parameters, H1 is selected), the trigger waits for the price to be closed at H1, the price has been closed below the trigger at H1 (in this case, the tool price did not cross the level of cancellation), the Sell Limit order is placed at the trigger price.
When the trigger price is reached (example: in the time period parameters, H1 is selected) the price has been closed at H1 above the set trigger, but has not reached the cancellation level, the Sell Limit order is in standby mode until the price at H1 is closed below the trigger. As soon as the price is closed below, the Sell Limit order is placed at the trigger price (provided that the tool price has not crossed the cancellation level, crossing the cancellation level cancels the order).
When the trigger price is reached (example: in the time period parameters, H1 is selected) the price at H1 has been closed above the trigger and crossed the cancellation level, the Sell Limit order is canceled.
Order execution is possible only when there are funds on deposit and the market reaches the trigger price. Partial order filling and subsequent closing of a partial order by Take Profit leads to canceling an unfilled order.
Note: the Sell Turn Limit order does not block the deposit.
