Entry Time Configuration
Floating Entry Time and Entry Window
Last updated
Floating Entry Time and Entry Window
Last updated
There are multiple ways to configure entry times in Option Omega to specify a range of entry times. The default is to enter per user settings in a one minute timeframe. If the user wants to allow a longer timeframe, there are two choices, detailed below. Additionally, there is a video segment in that covers these choices.
First, for strategies that rely on a time range to see if a certain event takes place during that time range, floating entry is available. Floating entry in the strategies works the same way it does in the backtest. Floating entry rechecks the entry conditions each minute, and thus the strikes and entry prices are also recalculated every minute.
Typical uses cases for a floating entry include an ORB, a technical level (i.e. an EMA), a pricing filter, intraday movement, etc. The software has been designed so that if a backtest uses floating entry, the strategy will function similarly.
If a user wants an entry window, but doesn't have the floating entry use case, the entry window (below) is another option.
Second, Entry Window (in minutes) is also available entry execution parameter. This allows the automation platform to continue to try to enter a trade, after all entry conditions have been satisfied, for [x] minutes. At each minute, the strikes (and thus entry price) will be recalculated. The entry conditions will only be checked initially; once those conditions are satisfied, the platform will continue to attempt to enter each minute during the specified window. This allows strategies with multiple time tranches (additional entry times) to utilize a "window" in case the platform fails to get a fill, or there's a temporary interruption in service, etc.
Typical use cases for entry window include tranche/multiple entry strategies. Users may also want to specify an entry window to allow for additional time to fill, due to market movements, an API blip, etc.
