Bracket Ordering

Bracket Ordering is designed to help you place a bracket order that includes 2 opposite-side pending orders with just one click. It incorporates the One Cancels the Other (OCO) feature. With this ordering tool, you can forget the cumbersome manual process of placing bracket orders, which typically requires 4 actions.

Each bracket order is offset from the current price by a specific number of ticks that you can define. This offset can be easily adjusted on the order line for each order.

The tool offers 4 types of pending orders: Limit (LMT), Stop (STP), Market If Touched (MIT), and Stop Limit (SLM). You can also select the number of contracts and the ATM strategy directly from the control panel, eliminating the need to navigate away to the chart trader.

For instance:

When you select a Stop (STP) pending order to enter the market, a high-side BUY STOP pending order and a low-side SELL STOP pending order will be bracketed together with one click. If the price rises and activates the BUY STOP pending order, a buy order will be executed, and the corresponding SELL STOP pending order will automatically be canceled. The reverse occurs if the price declines.

Scenarios for using Bracket Ordering

1. Sideways and Range-Bound Trading

In uncertain market conditions where the price moves within a defined range, such as in a sideways market, you can enhance your strategy by placing a buy pending order at the support level and a sell pending order at the resistance level. This approach enables you to trade in both directions and respond swiftly as the market hits either boundary.

Limit (LMT) orders are especially effective in these scenarios. If you anticipate that the price will approach resistance or support and potentially reverse, you can easily place a Buy LMT order at resistance and a Sell LMT order at support with just one click, eliminating the hassle of constant chart monitoring.

2. Breakout Trading

Breakout signals often offer high immediate reward potential, but it's challenging to enter the trade accurately because the price moves very quickly after confirming the breakout. This tool helps you act promptly, ensuring you seize opportunities early and avoid being caught off guard by sudden price swings.

3. Scalping Trading

Using Bracket Orders, you can quickly set up buy and sell pending orders at your chosen price levels in fast-moving markets, ensuring that every second counts in scalping. It allows you to actively adjust your strategy in real-time based on price movements. For instance, you can position a sell pending order close to the peak for Swing trading and a buy pending order at the support level, preparing for a Pullback trade when the price retraces.

4. Trading amid news-driven market conditions

When news is released, prices often experience sharp increases or decreases. In the face of these fluctuations, Bracket Ordering enables you to seize opportunities easily, entering trades at the right moment while automatically securing rewards or limiting losses when necessary. This not only helps protect your account but also optimizes your rewards during periods of significant market volatility.

Bracket Ordering enables you to focus more on your trading strategy rather than the mechanics of order entry. With the ability to set up a bracketed pending order with a single click, you can enhance your trading experience by simplifying the order placement process.

Pair this with anything else from our lineup of the best NinjaTrader 8 indicators for a more complete workspace.