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Pending orders are executed in Open Prices method?

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dotnetfreak
11
dotnetfreak 2014.02.07 21:19 

​Hello,

I have a question, do pending orders execute with OHLC? for example, if a bar for EURUSD opens in 1.3500 and closes in 1.3600, and I have a pending order at 1.3550, would the order be executed ?

Thanks in advance

Alain Verleyen
Moderator
30740
Alain Verleyen 2014.02.07 22:49  
edabdoub:

​Hello,

I have a question, do pending orders execute with OHLC? for example, if a bar for EURUSD opens in 1.3500 and closes in 1.3600, and I have a pending order at 1.3550, would the order be executed ?

Thanks in advance

Pending order is triggered when bid/ask price reaches the order price. OHLC price are bid prices. See documentation for pending orders type.

So in your example it depends when you place your order, and what is the spread.

Rodrigo Malacarne
Moderator
9895
Rodrigo Malacarne 2014.02.07 23:14  
angevoyageur:

Pending order is triggered when bid/ask price reaches the order price. OHLC price are bid prices. See documentation for pending orders type.

So in your example it depends when you place your order, and what is the spread.

It also depends on market volume at your trigger price level... for instance, it might be possible that on strong psychological price levels, for intance, 1.35000, 1.35500 or 1.36000, there will be so many orders triggered at the same time that your order could simply be triggered but not filled... it's a kind of "price gap" inside the trading session. It has happened sometimes to me, and I think you have to be aware of this possibility when putting orders on strong psychological price levels.
dotnetfreak
11
dotnetfreak 2014.02.08 00:12  

Sorry if I was not clear, Im talking about backtesting here.

I would like to use OpenPrice method not tick data but work with Pending orders in my EA.

 Is this possible? 

Alain Verleyen
Moderator
30740
Alain Verleyen 2014.02.08 00:43  
edabdoub:

Sorry if I was not clear, Im talking about backtesting here.

I would like to use OpenPrice method not tick data but work with Pending orders in my EA.

 Is this possible? 

Maybe you can try it and let us know the results.
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