Bracket Entry Orders

The Bracket Entry Orders module is great for capturing momentum in fast moving market during periods of high activity or following a news event.  The “Bracket” button gets the last traded price, and then initiates a Buy order above the market and a Sell order below the market simultaneously.  These orders are OCO (One Cancels Other) or can be canceled before anything is filled by hitting the “Cancel” button as seen in the screenshot below.

Bracket Entry Orders Options

• Order Offset (Ticks) – the offset for both buy and sell orders, from the current price.
• Order Type – LMT (Limit), Market If Touched (MIT), SLM (Stop Limit) or STP (Stop).
• Stop Limit Offset – number of ticks to offset the Stop Limit order trigger. a negative number is supported, resulting in a Simulated Stop Order type, which is unique to NinjaTrader.

Trigger Mode – select when the orders get placed.

• Immediately – orders are placed when the button is clicked.
• Close – orders are placed when the bar closes.

Close Early Entry (Seconds) – when using Minute or Second bars, with a Trigger Mode of ‘Close’, this allows orders to be placed before the bar actually closes. This feature is essential for trading news events to get the orders placed before a spike occurs.

Price Basis – select where the orders get placed.

• Last – orders get placed based on the last traded price with an offset
• High / Low – orders get placed based on the high and low of the current bar