Creating Market Bracket Orders with Pips instead of Price

[Jammawind]

Hello,

Is there a way to make StopLoss and TakeProfit orders as a pip difference based on the Market order instead of a set price.

The current method only allows you to put in a price for the StopLoss and Take Profit. I would like to be able to use a constant SL and TP for my trades.

Thank you,
Artis Johnson

[hootnot]

Hi,

Asuming you use the contrib.request classes: I took a quick look and saw that for TrailingStopLossOrderRequest the distance parameter is available. But not for the classes you mention. I will have a look at it somewhere next days

[gkourogiorgas]

Any updates? I can use distance in stoplossOnFill and set stop loss relative to the opening price of the trade. Is there anything new on the take profit front? What is the workaround?

[hootnot]

it is a few lines of code to calculate things in a way that it can be handled in an order request. But I will leave that to the programmer

[gkourogiorgas]

How about this:

p1={
    "order": {
    "type":"MARKET",
    "timeInForce": "FOK", 
    "instrument": "EUR_USD"
   , "units": "-100",
    "positionFill": "DEFAULT"
    } 
    }
r = orders.OrderCreate(accountID=accountID, data=p1)
rv=client.request(r)

u1={
  "takeProfit": {
    "timeInForce": "GTC",
    "price": str(float(rv['orderFillTransaction']['tradeOpened']['price'])-0.0001)
  },
  "stopLoss": {
    "timeInForce": "GTC",
    "price": str(float(rv['orderFillTransaction']['tradeOpened']['price'])+0.01)
  }
}
r = trades.TradeCRCDO(accountID=accountID,
                                 tradeID=rv['orderFillTransaction']['tradeOpened']['tradeID'],
                                  data=u1)
client.request(r)

[hootnot]

Feel free to program it the way you like. The examples in https://github.com/hootnot/oandapyV20-examples show a clear example in src/contrib_mo_tp_sl.py using the contrib classes:

EUR_USD_STOP_LOSS = 1.05
EUR_USD_TAKE_PROFIT = 1.10

# The orderspecs
mktOrder = MarketOrderRequest(
    instrument="EUR_USD",
    units=10000,
    takeProfitOnFill=TakeProfitDetails(price=EUR_USD_TAKE_PROFIT).data,
    stopLossOnFill=StopLossDetails(price=EUR_USD_STOP_LOSS).data
)
print("Market Order specs: \n{}".format(json.dumps(mktOrder.data, indent=4)))

# create the OrderCreate request
r = orders.OrderCreate(accountID, data=mktOrder.data)

[gkourogiorgas]

I see. Can you use distance for stop loss? In the API doc it doesn't mention distance in TP, unfortunately.

[hootnot]

OANDA doesn't support the distance parameter in a TP, see #147 .

But you can write your own class or subclass TakeProfitDetails class and make it handle the distance the you like it.