Support Board
Date/Time: Fri, 28 Feb 2025 18:32:15 +0000
Limit Chase Orders
View Count: 3724
| [2018-11-30 14:59:04] |
| User294224 - Posts: 43 |
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Hi, I have been using limit attached orders to work an out on a trade as soon as I get filled. What I am wondering is if it is possible to use an attached limit chase order to work for either a 10 tick winner immediately or (if the best bid/offer is less less that 10 ticks from my entry) work the best bid/offer down the book to 5 tick winning trade? |
| [2018-11-30 17:27:56] |
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How Limit Chase orders work is documented here: Order Types: Limit Chase Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing |
| [2018-11-30 19:12:11] |
| User294224 - Posts: 43 |
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Hi, I have read the document but I am still not clear on how the order works. Can it be set up to work the best bid/offer so that if the market trades it will be the first order hit?
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| [2019-10-01 06:55:02] |
| Yeager - Posts: 131 |
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ever get an explanation on how the limit chase works?
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| [2019-10-01 10:16:59] |
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Yes this is fully documented here: Order Types: Limit Chase Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing |
| [2021-08-16 02:29:10] |
| User155017 - Posts: 41 |
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Hi I have monitored sell chase orders for instruments with few trades, and they do not follow the bid/ask mid price. According to documentation "If there is no last trade price available, then the average of the Bid and Ask prices will be used if those are available." Does this apply to both sell and buy orders, or only to buy orders? I start with a mid price order, but if the mid drops, the limit order does not follow it, and stays far. I set up the max chase to a very high value but it has no effect. Please clarify. I would be VERY useful to dynamic order with price at a given distance from current bid/ask to have more control. It should be easy to code. Is it possible to modify an order created by a spreadsheet, from the spreadsheet? Thanks |
| [2021-08-16 11:06:15] |
| User155017 - Posts: 41 |
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To be more clear, I am trading a symbol which trades only few times per hour, bu the bid ask move continuously so in principle the chase order should work also in this case. As far as I can see it works properly only when there are frequent trades, but according to the documentation it should work even in absence of trades. How often are the prices updated if there are no trades for a long time? Is the update happening for every change in the bidask? I am using tick settings, with 1 trade per bar and -BID_ASK_TRADE_SYNC suffix. Please advise how to update continuously chase orders even when trades are very infrequent. The bid/ask spread is not so high, so these are safe to trade futures, but just do not trade often, while the bid/ask change very often. |
| [2021-08-18 12:49:00] |
| User155017 - Posts: 41 |
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I confirm that chase orders are not behaving as expected if there are no trades. Can you confirm if these orders are actually working based on the move of the bid ask, when there are no trades for several bars, but the bid ask is moving during those bars? Thanks |
| [2021-08-19 19:29:23] |
| Sierra_Chart Engineering - Posts: 18602 |
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As long as there is a last trade price is available, the limit chase order will just use the last trade price data. Not bid/ask data. Is it possible to modify an order created by a spreadsheet, from the spreadsheet? No, you would need to use ACSIL: Automated Trading From an Advanced Custom Study Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2021-08-20 06:51:41] |
| User155017 - Posts: 41 |
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Thanks. What happens when trades occur rarely, let say once per 20 minutes, but bid ask change every second? According to your reply, the chase price would not change for 10 minutes, and this a problem since there can be large price gaps between trades vs quotes histories. Is there another order type which is chasing the midpoint instead of the trade price? |
| [2021-08-23 04:14:41] |
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According to your reply, the chase price would not change for 10 minutes,
Yes this is correct. There just is not support for what you are looking for. That would be something that would have to be implemented but is not something we can do now.You could look at implementing your own order type through ACSIL: Automated Trading From an Advanced Custom Study Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing |
| [2021-08-26 13:10:01] |
| User155017 - Posts: 41 |
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I think an order type adjusting dynamically to a given distance from the bid/ask (positive or negative number of ticks) would be a great selling point for using Sierra. Also adding support for synthetic (not exchange) iceberg orders would be important. I can try to code it, but it takes time, and I was hoping to get it done with a spreadsheet. Is there any example I could use as a starting point to modify the code ? This new order would be an indicator I need to apply to the symbol I want, or could also call it from ACSIL and apply it to different symbols, without having an open chart? Could I code the logic outside SC, and then read a from a file the order and execute somehow from SC? |
| [2021-08-26 13:12:49] |
| User155017 - Posts: 41 |
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Would it be difficult to modify the spread order C++ code I can see in the examples to support chase limit instead of market orders for for entry and exit? This is my main goal in the end. |
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