Making EA's "market exectution"

I just posted under general, but realized this is probably the better place to seek wisdom.

I'm trying to make our EA "market execution" as opposed to "instant execution".

Would really appreciate any info on scripting, code or where to find such.

Any help appreciated.

Thanks

cb25

Whats the difference?

Hi 7bit,

As far as I can make out it is how my EA processes the trade through my broker. Instant is where it tries to conduct the trade straight through. Through market is where my broker still has control of it. Anti scalping really, even though they say they are OK with such.

We are not aiming to scalp anyway, but just want to get it working!

Cheers

cb25

Are we speaking about Metatrader? In Metatrader all you have is the OrderSend() function. As you can see in the documentation for OrderSend() there is no option to control what the broker should do with this order.

The broker will decide on his own, according to his own (secret) rules, probably based on the volume of your order and other factors, whether he will pass it through immediately (and maybe let you wait until it is filled) or whether he will take the risk and fill the order himself. And there is also no way to tell which of the two possibilities actually happened after OrderSend() has returned, it will either return a valid ticket number if successful or an error otherwise.

Yes...MetaTrader it is

The broker told me I had to make it market ex, not instant ex. But, yes, you are right about them filling it etc. I think the thing is I have to make my EA so that it only requests an order be filled, and only after that point is it allowed to place the stops etc.

Thanks for you comment.


cb25

Then he used a very unclear terminology. There are a few threads here about splitting OrderSend() into sending opening the order and separately setting stop and limit. All boils down to making a library (or using an existing one), a simple include file would be sufficient, that contains a function OrderSendEx() that takes the very same arguments as OrderSend() but internally does the order sending in two steps. Then you can just include this file in all EAs and use a simple search&replace to replace all occurences of "OrderSend(" with "OrderSendEx(".

Hi 7bit,

Thanks for that info. Matt (my son who does the programming) is away till Monday, as soon as he gets back we will give it a shot. I'm the analyst who is supposed to work out what needs to go in the brains of these things!

Cheers

cb25