Description:
Currently, the bot sets visible limit orders that appear in the order book. This visibility exposes the orders to potential targeting, where market manipulation or liquidity-hunting can cause premature entries or exits, especially around clustered levels like limit and stop-loss orders. To counter this, I need the ability to set shadow limit orders—offline limit orders managed by the bot, which only appear in the order book when the price is close to the predefined levels.
Problem:
Visible limit orders increase the risk of being targeted by manipulative market moves. As exchanges or market makers spot clusters of orders (e.g., limit entries, stop losses), they can cause price spikes or dips to trigger these orders before reversing the trend, leaving traders at a disadvantage. By keeping limit orders hidden until the price is near, we can avoid this vulnerability and execute trades more strategically.
Implementing stealth orders that activate at specific triggers would enable the use of pre-staged limit orders, a feature currently unsupported. For instance, when anticipating a price pullback, I’d like to set up long limit orders where both the entry and take profit are below the current price level. Currently, the bot requires the take profit to be above the current price, or it closes the position immediately, as it considers the target hit before the entry. With this feature, we could manage offline limit orders, allowing the bot to activate them only when necessary.
Proposed Solution:
• Introduce Shadow Limit Orders (stealth mode) where limit orders are managed offline by the bot and only activated when the price is within a certain proximity to the order level (e.g., within 0.5% of the entry price).
• When the price approaches the defined level (buy/sell limit, take profit, or stop loss), the bot would automatically place the limit order in the order book.
• If the price moves too far away from the level again, the bot should remove the limit orders from the order book and continue managing them in the background.
• This process would repeat, keeping the limit orders hidden and reducing the risk of being targeted by liquidity-hunting algorithms or market manipulation.Benefits:
• Keeps order levels hidden from the order book, reducing the chance of being targeted by manipulative moves.
• Increases the likelihood of executing trades without falling prey to artificial price movements or liquidity hunts.
• Enhances stealth mode trading by ensuring limit orders are only visible when they are likely to be triggered, offering better protection for trading strategies.Thank you for considering this feature, which would provide traders with better control and protection over their order placements.