Entry market price type

When your signal does not have a price, TradersPost will fetch a quote from the broker and use Entry market price type from your subscription instead of using a price from the signal. By default, the Midpoint will be used. For example, if you have limit orders configured and you send a signal without a limitPrice, then TradersPost will use the price from the quote.

{
    "ticker": "AAPL",
    "action": "buy",
    "orderType": "limit"
}

Or if you specify a limitPrice, then that value will be used.

{
    "ticker": "AAPL",
    "action": "buy",
    "orderType": "limit",
    "limitPrice": 100
}

If the broker you are using does not support quotes, such as Tradovate, then you must always send a price in your signal. For example, if you are using market orders and you are attaching a takeProfit and stopLoss to your entry order, then you must send a signalPrice in your signal to be used to calculate other prices based on your estimated entry price.

{
    "ticker": "AAPL",
    "action": "buy",
    "orderType": "market",
    "signalPrice": 100,
    "takeProfit": {
        "amount": 10
    },
    "stopLoss": {
        "type": "stop",
        "amount": 5
    }
}

In the above example, a takeProfit.limitPrice of $110 and a stopLoss.stopPrice of $95 will be calculated based on the signalPrice of $100.

You have the following options:

• Bid/Ask - Use the bid price for buys and the ask price for sells
• Bid - Use the bid price for all orders
• Ask - Use the ask price for all orders
• Last - Use the last price for all orders
• Midpoint - Use the midpoint of the bid and ask prices for all orders

Webhook marketPriceType override

The webhook field is always marketPriceType (there is no separate entry-only name in the payload). The same key is used for exit pricing when exit price overrides apply; for an entry signal it only affects how entry prices are taken from the quote when Allow signal override for entry price is enabled, or when Allow signal overrides is enabled.

If Allow signal override is enabled for entry price (or Allow signal overrides is enabled), you can override Entry market price type per signal by including marketPriceType in your webhook JSON. Valid values are ask_bid, mark, ask, bid, and last.

{
    "ticker": "AAPL",
    "action": "buy",
    "orderType": "limit",
    "marketPriceType": "bid"
}

If marketPriceType is omitted from the signal, the Entry market price type on the subscription is used. Invalid values are rejected; see the webhook message Invalid Market Price Type.