Beginning on 29 November 2021, we will be introducing a 5 minute break for forex and precious metals instruments at market end of day (4:58pm ET for all currencies, with an additional break for NZD at 6:58am Auckland time). This change will help to protect our clients from the regular instances of reduced liquidity and subsequent disorderly pricing that can occur during this period.
This change Oanda recently made caused a bit of chaos in my tradebots. I trade on the 4hour bar which hits both of these timeframes - 13:00 and 17:00 ET.
For example between 16:58 and 17:03, Oanda's API returns "MARKET HALTED" and rejects orders now.
What I've currently implemented to deal with this "seems" to be working, but it's not ideal. What I now do is check the time that an order would be triggered, and if it fits the criteria of the Oanda breaks, I queue that instruction and release it after the market break. The main negative is that spreads are much higher after 17:00. But I can't get my algo to take a trading signal early (and that would be technically breaking the trading rules)... so instead I take it a few minutes late.
I deal with this in my accounting by adding double the slippage. I currently add 3 pips slippage and if an order occurs on these halt windows, I calculate it as 6 pips slippage.
Just wondering if anyone else has been impacted by this Oanda change, and how you're dealing with it.