Floating order - Limit order with rearranging, if an order price is not a bottom price in the order book.
Let’s analyze the action patterns using the example of buying 0.0015 BTC in the pair BTCUSDT.
F in order form and input
Bottom SELL price is ASK =
Bottom BUY price is BID =
Tick price =
Bot create LIMIT order at price
BID + 1 Tick price
In our example, this is the price =
If our order has not been fully executed and a higher order has been added, then the Floating system with timeout will rearrange our order above the current price. This will happen until the order is fully executed.
The system’s selling behavior is similar, only the price of the initial order =
ASK - 1 Tick price
The rearranging of an order begins after timeout is over, if an order price is not a bottom price in the order book
If the maximum awaiting time is reached and order is not filled it will be canceled
Maximum price deviation in % from the initial, after exceeding it the order will be canceled
Action with a rearranging dust order (order sum is less than minimum)
Await till execution
Cancel a dust order
Increase to the minimum sum