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How to Code an Adjustable Stop Order in Python

Algo Trading

You can attach one-time adjustments to stop, stop limit, trailing stop and trailing stop limit orders. When you attach an adjusted order, you set a trigger price that triggers a modification of the original (or parent) order, instead of triggering order transmission.

Let’s refer to IBKR API GitHub to learn how to code an Adjustable Stop Order in Python.

# Attached order is a conventional STP order in opposite direction
order = OrderSamples.Stop(“SELL” if parent.action == “BUY” else “BUY”,
parent.totalQuantity, attachedOrderStopPrice)
order.parentId = parent.orderId

#When trigger price is penetrated
order.triggerPrice = triggerPrice

#The parent order will be turned into a STP order
order.adjustedOrderType = “STP”

#With the given STP price
order.adjustedStopPrice = adjustStopPrice

Visit our GitHub guide to download the API sample Testbed, and review the Python code for additional order types: http://interactivebrokers.github.io/. The sample syntax is stored in the OrderSamples.py file.

Stay tuned for IBKR order type articles. See the previous installments in this series: 

Disclosure: Interactive Brokers

The analysis in this material is provided for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IBKR to buy, sell or hold such investments. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

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