Market and Limit Order Modes (Entry, TP, SL, Close)
Configure market or limit orders separately for Entry Buy/Sell, Take Profit, Stop Loss, and Close — with Mid, Aggressive, and Passive limit pricing and quote fallback rules.
OptionTrigger lets you set market (MKT) or limit (LMT) separately for Entry (Buy/Sell), Take Profit, Stop Loss, and Close — each with optional Mid, Aggressive, or Passive limit pricing from live option bid/ask.
Single source of truth: This guide documents all order-mode behavior. Related: Auto TP/SL on TradingView, Stop-Loss Modes, Multi-Level Take Profit.
Four independent order paths
| Path | What it controls | Default location |
|---|---|---|
| Entry (Buy/Sell) | Opening the single-leg option | Settings → Trading → Entry (Buy/Sell) |
| Take Profit | Auto exit when TP price hits | Settings → Take Profit + per-TP dialog |
| Stop Loss | Auto exit when SL triggers | Settings → Stop Loss + SL dialog |
| Close Position | Portfolio / panel flatten | Settings → Close Position |
Defaults apply to new trades. You can override TP and SL per position without changing global defaults.
Global settings (defaults)
In OptionTrigger Settings → Trading → Order Mode:
- Pick Market or Limit for each row (Entry, TP, SL, Close).
- When Limit is selected, choose a limit strategy (sub-options activate; they are grayed out for Market).
Limit orders may not fill immediately. If bid/ask is unavailable, the system may fall back to market and show a notification — check backend connection and option quote subscription.
Configure during setup: Desktop Setup Guide.
Limit price strategies
All limit legs use real-time bid/ask from your broker data path.
| Strategy | Buy limit | Sell limit | Typical use |
|---|---|---|---|
| Mid | (bid + ask) / 2 | (bid + ask) / 2 | Balanced; default for many traders |
| Aggressive | ask | bid | Faster fill; pays spread side |
| Passive | bid | ask | Better price; may wait longer |
Prices are rounded to two decimals and clamped to a minimum of $0.01.
Entry: Buy / Sell
Global default
Entry uses Entry (Buy/Sell) from Order Mode settings when you submit from the Long/Short position tool (entry circle flow).
Quick order panel override
The compact order panel on the chart includes its own Market / Limit toggle and Mid / Aggr / Pass cycle for that click — useful for one-off entries without changing global defaults.
Confirmation dialog
Before submit, the confirm dialog shows:
- Order Mode: Market or Limit (and strategy name when limit)
- Limit Price: when applicable
Walkthrough: Placing Your First Order.
Take Profit: per level + default
- Global default: Settings → Take Profit row sets the default for new TP legs.
- Per-level override: Click a TP line → settings panel → choose Market or Limit + strategy for that TP only.
Chart labels may show M (market) or L (limit) on TP markers.
Details: Multi-Level Take Profit.
Stop Loss: trigger mode + order type
Stop loss has two concepts — do not confuse them:
| Concept | Settings location | What it does |
|---|---|---|
| Trigger mode | Stop-loss mode (Wick / Body / Hybrid) | When SL fires relative to candles — Stop-Loss Modes |
| Order type | Order Mode → Stop Loss + SL dialog | How the exit order is sent (MKT vs LMT) |
Limit stop loss may not fill immediately if premium jumps through your level. You can remain exposed while the limit order waits. Many traders keep SL on Market for protection; switch to Limit only with intent.
Open the SL settings dialog from your position tool to override order type for that trade.
Close Position
Portfolio Close and Trading Panel Close use Close Position from Order Mode (market or limit + strategy).
Closing uses the same bid/ask logic based on whether you are buying or selling to flatten.
Quote missing: fallback vs blocked
| Scenario | Behavior |
|---|---|
| Auto TP / SL trigger in limit mode, no quote | Falls back to market + persistent notification |
| Entry from position tool in limit mode, no quote | Falls back to market + notification |
| Quick order panel in limit mode, no quote | Blocked — switch to Market or fix quotes |
If you see frequent fallbacks, verify TWS/Gateway is running and option prices display on chart — Connect IBKR.
Recommended starting presets (paper test)
| Leg | Suggested start | Why |
|---|---|---|
| Entry | Limit + Mid | Reduce spread slip vs blind market in wide names |
| TP | Market or Limit + Mid | Test fill speed on your typical targets |
| SL | Market | Prioritize exit certainty |
| Close | Limit + Aggressive | Flatten with higher fill probability |
Run each combination in paper mode before live size.
Related guides
| Article | Topic |
|---|---|
| Long/Short Position Tools | Where entry panel lives |
| Auto TP/SL for Options | Premium-based brackets |
| Trade Options on TradingView | Hub guide |
- Trade Options on TradingView — brokers, tools, workflows
- Options Trading Automation Playbook — webhooks vs chart-native execution
- IBKR + TradingView for Options — permissions, TWS, troubleshooting