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Category
Settings or OrderSettings
Description
Replaces every market-on-open order with a limit order X% beyond the last close in any generated CSV order list
Value
A number expressing the desired percentage, e.g. 3 for 3%
Notes
Market-on-open orders are typically generated in the following situations:
•entry orders when EntryTime is NextOpen (or omitted) and neither EntryLimit nor EntryStop is specified
•exit orders when ExitRule is true and ExitTime is NextOpen (or omitted)
•exit orders when ExitLimit touches the last close and ExitLimitTime is NextOpen
•exit orders when ExitStop touches the last close and ExitStopTime is NextOpen
In all such cases, if OrdersMktAsLmtPct is specified then the order is converted to a LMT order.
For example, if 3 is the specificed percentage, then a long entry (buy) order would use Close * 1.03 as its limit price, and a long exit (sell) order would use Close * 0.97 as its limit price. The idea is to allow plenty of extra room to ensure a fill while still using a limit order.
If this setting is not specified or if its value is 0 then standard MKT orders will be generated.
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