Hey guys I'm currently trading the M6E and am having some issues with liquidity. The depth is usually pretty decent, but there is just not much volume traded. I am looking to create a Market If Touched tool (if bid/ask touch, not price) and was wondering if anyone has any tools similar to this that I can take a look at for some ideas. Appreciate the help.

Xav1029 

Hey guys I'm currently trading the M6E and am having some issues with liquidity. The depth is usually pretty decent, but there is just not much volume traded. I am looking to create a Market If Touched tool (if bid/ask touch, not price) and was wondering if anyone has any tools similar to this that I can take a look at for some ideas. Appreciate the help.

@Xav1029

You might try the auto chase. See here: NinjaTrader Version 7

Never used it but it seems to be similar to market if touched.

Robert

Silver Dragon 

@Xav1029 You might try the auto chase. See here: NinjaTrader Version 7 Never used it but it seems to be similar to market if touched. Robert

Thanks Robert. I think this will do for now, because it actually runs off ask/bid

If you are interested in MIT strategy wise @traderwerks wrote some Market If Touched code on his blog some time ago:

TraderWerks Market If Touched / Limit If Touched Orders In Ninja Trader

gregid 

If you are interested in MIT strategy wise @traderwerks wrote some Market If Touched code on his blog some time ago: TraderWerks Market If Touched / Limit If Touched Orders In Ninja Trader

Thanks @gregid but I was looking to do it as an indicator, not strategy. I've never really used chart control functions and need to figure out the best way I can manually move the entry price. I'm thinking having the indicator plot a horizontal line that I can manually move.

I know most of the code I would need to write, just feel iffy about accessing chart control for orders and being able to move a line around for entry price.

In Sierra Chart you can plot these two little lines for bid/ask so you can see which way price is leaning. It's a nice feature even on liquid markets. .

I can't, but maybe someone can do something like that for you.

Xav1029 

Hey guys I'm currently trading the M6E and am having some issues with liquidity. The depth is usually pretty decent, but there is just not much volume traded. I am looking to create a Market If Touched tool (if bid/ask touch, not price) and was wondering if anyone has any tools similar to this that I can take a look at for some ideas. Appreciate the help.

Did you get anywhere with this? I am also looking to place a MIT order that is triggered only when bid/ask touch.

I'm assuming this would enter you in faster than a limit order and reduce slippage that would normally be incurred using a MIT order that is triggered when price touches.

Thanks,

Erfan.

nourozi 

Did you get anywhere with this? I am also looking to place a MIT order that is triggered only when bid/ask touch. I'm assuming this would enter you in faster than a limit order and reduce slippage that would normally be incurred using a MIT order that is triggered when price touches. Thanks, Erfan.

@nourozi I never did code this. It is possible, but would take some work to make it user friendly.