Hello everyone, Is there a platform or technique to create a Limit Order that only activates after 2 Ticks? In the Ctrader you have the option to create Stop Order that is only activated with 2 Ticks (Bid or Ask), but Limit does not have this option. For example. Imagine an order below the current price. Buy (like a limit order). But instead of being activated on the first touch is activated on the second touch. So if you have a fast down moviment, it will be touch but not filled. Only in the return of the movement in the second touch the buy position it will be activated.
Is this order intended to actually exist on the limit order book? If so, then no. You can't post liquidity at a level without actually intending it to be filled upon a match. In fact, that would be entering the territory of spoofing. If you mean creating a system to fire one a price level is touched twice, then yes. You can: 1. look at the feed and determine the level your "order" will be placed. 2. when the feed shows a trade occur at that level, initialize an order. 3. when the feed shows a second trade occur at that level then shoot a limit order (if you want to rest on the book if liquidity is no longer there) or send an fill-or-kill order (if you don't want to rest on the book). One thing to consider is that implementation of such a system would require serious infrastructure.
Orders like that are possible with programming, so depending on your trading platform, you should inquire whether it is possible. There is certain logic with to your request due to spikes in market prices. however, you should consider to tie it up to the volume on the instrument, not the number of times the price gets hits. That is just my 2 cents. Lastly, if you were able to program this, your orders could be sent as Market or Limit after, but then you need to inquire whether it sits on your computer or the API's server. As you see it requires some effort. good luck.