What is the Multibrackets add-on?
The Multibrackets add-on extends the functionality of standard bracket orders, automatically creating additional tiers of Take Profit (TP) and Stop Loss (SL) brackets after order execution.
When you configure multiple tiers and your order gets executed, the brackets with the smallest tick size will be created first.
How to configure the Multibrackets add-on
The Brackets configuration panel contains information about the bracket tiers that will be created after order execution. TP/SL ticks define how many price levels will be used for the bracket tier offset. TP/SL size defines how many contracts will be distributed to each specific tier.
Multibrackets Enabled for
Bracket tier rules:
- At least 1 tier on EITHER TP or SL must be configured
- Any number of tiers can be added
- Total TP size must be equal to total SL size, whenever both have been configured
- Tick values cannot be the same. Tick values of 4, 6, and 6, for example, are not possible.
Configure SL as TP - this will make the SL tiers the same as the TP tiers.
Note: after any configuration change, the save button must be clicked for changes to apply.
Multibrackets add-on FAQ
These are the most frequently asked questions about the Multibrackets add-on.
Which platforms are supported?
Currently, only Rithmic is supported.
Can I use the add-on in replay or sim mode?
No, this add-on is only supported in Live mode.
How can I test the add-on?
To test the add-on you must open it in your Rithmic Paper Trading account, in Bookmap Live mode.
Who controls brackets configuration?
The add-on creates and handles multibrackets on the Rithmic server side. It is a complete server-side feature, ensuring the brackets work even if Bookmap loses its connection to the server.
Does the Multibrackets add-on work in cross-trading mode?
No, in order to support other add-ons and in pursuit of further integration on a larger scale, the Multibrackets add-on will not work in cross-trading mode.
How to install the Multibrackets add-on
Please note that the Multibrackets add-on is only compatible with the latest version of Bookmap (7.4).
Additionally, this add-on takes advantage of the new Add-ons Manager feature, which simplifies both the installation and updating process. If you'd like to learn more about the Add-ons Manager and how it can benefit your experience, please visit the following page.