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Author Topic: TradingView add on: Can limit sell orders be placed with a rate?  (Read 162 times)

Offline Hampden

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On the wiki, the BUY command allows for setting a rate:

BUY_EXCHANGE_USDT-BTC_amount_rate

Is there a reason why there is not a corresponding command format for sell limit orders such as (SELL_EXCHANGE_USDT-BTC_amount_rate)?

Offline Aitor

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Re: TradingView add on: Can limit sell orders be placed with a rate?
« Reply #1 on: August 28, 2020, 06:23:43 PM »
As you said, there isn't amount rate for selling. Anyway, once the selling conditions are met, the most logical move is to sell ALL. Personally that's what I do, and, tbh, if the selling conditions are met, I don't see the point on selling just a %, it just slows down the bot and would make things worse IMO.

Offline Hampden

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Re: TradingView add on: Can limit sell orders be placed with a rate?
« Reply #2 on: August 29, 2020, 05:50:02 AM »
Thanks for the reply.  My interest is more in making a limit sell order at a specified rate rather than selling some fraction of a lot I own.

For currencies with low volume on an exchange, a market sell order could drive down the price.  The market orders also have higher commissions.  If I could place a limit sell order, that could allow time for the small market to sync up with the global price.

If this can't be done with the existing command set, I would like to request this feature be added to future versions.

Thanks !

Offline Aitor

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Re: TradingView add on: Can limit sell orders be placed with a rate?
« Reply #3 on: August 29, 2020, 03:37:35 PM »
By default, orders are sent as market orders. When you want to send limit orders instead, disable "Use market orders" parameter. Buy orders are then sent at a limit price of the best bid order in the order book, sell orders are placed at the rate of the best ask price.

Offline Hampden

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Re: TradingView add on: Can limit sell orders be placed with a rate?
« Reply #4 on: August 29, 2020, 08:47:17 PM »
Thanks Aitor.  This is what I've been doing with the market orders turned off.

If the market is moving down quickly, a sell limit may never fill.

I can see a use case where someone would want to set a sell limit price at say 99.8% of the last offer price.  This way at least some of the order would fill if the market is crashing.  This is important on smaller exchanges where a large market order may consume a large fraction of the order book.