Close Bar Entry Orders is a module to expand the Enhanced Chart Trader. It enables placement of Market or Limit orders triggered at the close of a bar, with other conditions. The Enhanced Chart Trader can be added to any Chart window in NinjaTrader.
Close Bar Entry Orders is a set a buttons to initiate trade entry immediately on the close of a bar. This eliminates challenges that arise from manually entering orders when a bar closes. Instead, with one click of a button, the Enhanced Chart Trader will submit an order when the current bar closes. If the trade becomes invalid or the decision changes, the close bar entry logic can be cancelled by clicking the button again.
Features
The Close Bar Entry Orders module can be configured to place a Market order or Limit order based on how a bar closes:
Long entry on up bar
Long entry on down bar
Long entry on any bar
Short entry on down bar
Short entry on up bar
Short entry on any bar
It is common for trading systems and trading plans call for entries to happen when a bar closes. The process typically is something like this:
Watch for a set of conditions to occur.
Wait for the bar to close with the conditions present.
Submit orders as quickly as possible.
This process often breaks down when the bar closes. If the market is moving quickly, it is it easy to miss out after waiting so patiently for the setup. Having the ability to automatically place orders when a bar closes makes a nice addition to the NinjaTrader platform.
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