Limit If Touched Orders

The Limit If Touched Orders module adds an order type to the NinjaTrader platform. It hides Limit order entries until the market reaches the price, and then the Limit order is submitted.

Limit If Touched is an order to buy below the market, or sell above the market, an instrument at a specified price.  This order is held on your local computer until the trigger price is touched.  An LIT order is similar to a stop limit order, except that an LIT sell order is placed above the current market price, and a stop limit sell order is placed below.

Using a Limit if Touched order in NinjaTrader ensures that your order is not seen by anyone, because it is not resting at the exchange.

Limit If Touched Orders Options

• Order Offset (Ticks) – the offset for both buy and sell orders, from the trigger price.
  • 0 will place the order at the trigger price.
  • 1 or higher will place the order closer to the market price.
  • -1 or lower will place the Limit order further away from the market price.

Trigger Mode – select when the actual Limit orders get placed.

• Last Trade – orders are placed when the last traded price hits the trigger price
• Bid / Ask – orders are placed when the bid or ask price hits trigger price
  • for buy orders, the ask price must hit the trigger price
  • for sell orders, the bid price must hit the trigger price

The Limit If Touched Orders module for the Enhanced Chart Trader makes a nice addition to the NinjaTrader platform!