PlaceSmartOrder

Place Order Smartly by analyzing the current open position. It matches the Position Size with the given position book. Buy/Sell Signal Orders will be traded accordingly to the Position Size.

Endpoint URL

Local Host   :  POST http://127.0.0.1:5000/api/v1/placesmartorder
Ngrok Domain :  POST https://<your-ngrok-domain>.ngrok-free.app/api/v1/placesmartorder
Custom Domain:  POST https://<your-custom-domain>/api/v1/placesmartorder

Sample API Request

{
  "apikey": "<your_app_apikey>",
  "strategy": "Test Strategy",
  "exchange": "NSE",
  "symbol": "IDEA",
  "action": "BUY",
  "product": "MIS",
  "pricetype": "MARKET",
  "quantity": "1",
  "position_size": "5",
  "price": "0",
  "trigger_price": "0",
  "disclosed_quantity": "0"
}

Sample cURL Request

curl -X POST http://127.0.0.1:5000/api/v1/placesmartorder \
  -H 'Content-Type: application/json' \
  -d '{
  "apikey": "<your_app_apikey>",
  "strategy": "Test Strategy",
  "exchange": "NSE",
  "symbol": "IDEA",
  "action": "BUY",
  "product": "MIS",
  "pricetype": "MARKET",
  "quantity": "1",
  "position_size": "5",
  "price": "0",
  "trigger_price": "0",
  "disclosed_quantity": "0"
}'

Sample API Response

{
  "orderid": "240307000616990",
  "status": "success"
}

Parameters Description

Parameters	Description	Mandatory/Optional	Default Value
apikey	App API key	Mandatory	-
strategy	Strategy name	Mandatory	-
exchange	Exchange code	Mandatory	-
symbol	Trading symbol	Mandatory	-
action	Action (BUY/SELL)	Mandatory	-
product	Product type	Optional	MIS
pricetype	Price type	Optional	MARKET
quantity	Signal quantity. Unlike PlaceOrder, 0 is accepted here: it means "only reconcile to position_size"	Mandatory	-
position_size	Target net position, signed. Positive is long, negative is short, 0 is flat	Mandatory	-
price	Price	Optional	0
trigger_price	Trigger price	Optional	0
disclosed_quantity	Disclosed quantity	Optional	0

These twelve fields are the complete SmartOrderSchema. Any other field returns HTTP 400.

How PlaceSmartOrder API Works?

Video Tutorial: Watch on YouTube

PlaceSmartOrder API function allows traders to build intelligent trading systems that can automatically place orders based on existing trade positions in the position book.

Action	Qty (API)	Pos Size (API)	Current Open Pos	Action by OpenAlgo
BUY	100	0	0	No Open Pos Found. Buy +100 qty
BUY	100	100	-100	BUY 200 to match Open Pos in API Param
BUY	100	100	100	No Action. Position matched
BUY	100	200	100	BUY 100 to match Open Pos in API Param
SELL	100	0	0	No Open Pos Found. SELL 100 qty
SELL	100	-100	+100	SELL 200 to match Open Pos in API Param
SELL	100	-100	-100	No Action. Position matched
SELL	100	-200	-100	SELL 100 to match Open Pos in API Param

Response Fields

Field	Type	Description
status	string	"success" or "error"
orderid	string	Unique order ID from broker (on success)
message	string	Error message or "No action needed" if position already at target
mode	string	"analyze" in analyzer mode. The key is absent in live mode; there is no "mode": "live"

Notes

• Smart orders are ideal for position-based strategies where you want to maintain a specific position size

• The position_size represents the absolute target position:

  • Positive values = Long position

  • Negative values = Short position

  • Zero = Flat (no position)

• If current position already matches target, no order is placed

• Works across all exchanges and product types

• Fractional quantities are accepted only for CRYPTO; non-crypto quantities must be whole numbers.

• Rate limit: SMART_ORDER_RATE_LIMIT, default 10 requests per second

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