How does "Unfilled Strategy Order Replacement" work?
Posted: Aug 29 2015
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!
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!