Buckle up, as you will see in this lesson an interesting and valuable package of resourceful techniques and functionalities about Snap to Midpoint Orders.
Good thing it is available for U.S stocks, options and futures on the TWS Pro platform.
The most favorable aspect in Snap-to-Midpoint Orders is that it calculates an initial execution price based on the current bid/ask midpoint, adjusted by a user-defined offset amount. Knowing how to apply this tool will definitely power up your strategy allowing you to potentially target a fill closer to the midpoint, using the offset amount to control execution aggressiveness without necessarily hitting the exact bid or ask price.
Take a closer consideration into what you will learn in this lesson and do not forget its importance dealing with wide bid/ask spreads.