How to Code an IB Algo Order in the Web API

Interactive Brokers offers several algorithmic order types that are designed to include user-defined settings to your trades. The endpoint /iserver/contract/{conid}/algos can be used to identify the available strategies for a given contract.

GET  /iserver/contract/{conid}/algos

Request inline:

• String          addDescription       Whether or not to add algo description to response. Set to 1 for yes, 0 for no        required: false

• String          addParams              Whether or not to show algo parameters. Set to 1 for yes, 0 for no                           required: false

• String          algos                         List of algo ids delimited by “;” to filter by. Max of 8 algo ids can be specified.         required: false

Response:

• Returns an array of algos

  • string                  name   

  • string                  description

  • string                  id

  • string    parameters

    • string                  id                                       The algo parameter

    • boolean              required                           If true a value must be entered

    • string                   name                                Descriptive name of the parameter

    • string                   valueClassName             Format of the parameter, Enum: double, string, time, Boolean

    • number              minValue                          Smallest value, only applies to parameters with valueClassName=Double

    • number              maxValue                         Largest value, only applies to parameters with valueClassnName=Double

    • boolean              defaultValue                    User configured preset for this parameter

    • string                   legalStrings                      The list of choices, example: “ALL:Get Done”, “ALL:Aggressive”, “ALL:Neutral”, “ALL:Passive”

    • string                   description                       Detailed description of the parameter.

    • number               guiRank                             The order in the UI, used when building dynamic UI so that more important parameter are presented first.

    • boolean              priceMarketRule             If true, must specify parameter using market rule format. Only applies to parameters with valueClassName=Double

    • string                   enabledConditions         The rules that UI should apply to algo parameters depending on chosen order type, Enum: MKT:speedup=:no, LMT:strategyType:<>:empty, MKT:strategyType:=:Marketable
                                                                              MKT:speedup=:no  –  hide SpeedUp param when MKT is chosen for order type.
                                                                              LMT:strategyType:<>:empty  –  strategyType param cannot be empty when LMT is chosen for order type.
                                                                              MKT:strategyType:=:Marketable  –  set strategyType parm to Marketable and disable (no other choice) when MKT is chosen for order type.

First we’ll send the endpoint /algos for the corresponding conid to receive a list of all available algo names

Please be sure to authenticate first in order to resolve the below URLs.
For authentication details, visit https://www.interactivebrokers.com/en/trading/ib-api.php.

Request:

GET https://localhost:5000/v1/api/iserver/contract/8314/algos

Response:

{
   “algos”: [
    {
     “name”: “Adaptive”,
     “id”: “Adaptive”
    },
    {
      “name”: “Arrival Price”,
     “id”: “ArrivalPx”
     },
    {
      “name”: “Close Price”,
     “id”: “ClosePx”
     },
     {
      “name”: “DarkIce”,
      “id”: “DarkIce”
     },
     {
      “name”: “Percentage of Volume”,
      “id”: “PctVol”
    },
     {
      “name”: “Price Variant Percentage of Volume”,
      “id”: “PctVolPx”
     },
    {
     “name”: “Size Variant Percentage of Volume”,
      “id”: “PctVolSz”
     },
    {
      “name”: “TWAP”,
      “id”: “Twap”
     },
     {
      “name”: “Time Variant Percentage of Volume”,
      “id”: “PctVolTm”
     },
     {
      “name”: “VWAP”,
     “id”: “Vwap”
     }
   ]
}

Now that we know the available algo strategies we’ll send the endpoint /algos again with additional parameters inline:

Request:

GET https://localhost:5000/v1/api/iserver/contract/8314/algos?addDescription=1&addParams=1&algos=PctVolTm

Response:

{

 “algos”: [
   {
    “name”: “Time Variant Percentage of Volume”,
    “description”: “Algo that lets you participate in volume at a user-defined rate that varies with time.”,
    “id”: “PctVolTm”,
    “parameters”: [
    {
     “guiRank”: 5,
      “defaultValue”: false,
      “name”: “Attempt to never take liquidity”,
      “id”: “noTakeLiq”,
      “valueClassName”: “Boolean”
     },
     {
      “guiRank”: 1,
      “minValue”: 0.01,
      “maxValue”: 50,
      “name”: “Target Percentage at Start Time”,
      “description”: “from 0.01 to 50.0”,
      “id”: “startPctVol”,
      “required”: “true”,
      “valueClassName”: “Double”
    },
     {
     “guiRank”: 2,
      “minValue”: 0.01,
      “maxValue”: 50,
     “name”: “Target Percentage at End Time”,
      “description”: “from 0.01 to 50.0”,
      “id”: “endPctVol”,
      “required”: “true”,
      “valueClassName”: “Double”
     },
     {
      “guiRank”: 6,
      “defaultValue”: false,
      “name”: “Attempt to match block trading volume”,
      “id”: “includeBlockTrades”,
      “valueClassName”: “Boolean”
     },
     {
“guiRank”: 7,
      “name”: “Trade when price is more aggressive than:”,
      “description”: “evaluates with bid for buy order and ask for sell order”,
      “id”: “conditionalPrice”,
      “valueClassName”: “Double”
     },
     {
      “guiRank”: 3,
      “name”: “Start Time”,
      “description”: “defaults to start of market trading”,
      “id”: “startTime”,
      “valueClassName”: “Time”
     },
     {
      “guiRank”: 4,
      “name”: “End Time”,
      “description”: “defaults to end of market trading”,
      “id”: “endTime”,
      “valueClassName”: “Time”
     }
    ]
  }
  ]
}

Now we can send the endpoint /iserver/account/{accountId}/orders with the included id of the algo strategy and the list of algo strategyParameters

POST https://localhost:5000/v1/api/iserver/account/DU26214/orders

Payload Request:

conid: 8314,
secType: “8314:STK”,
cOId: “testAlgoOrder”,
orderType: “LMT”,
price: 127,
side: “BUY”,
tif: “DAY”,
quantity: 1,
strategy: “PctVolTm”
strategyParameters: {
noTakeLiq: false,
monetaryValue: 200,
includeBlockTrades: false,
conditionalPrice: 128,
startTime: 20210412,
endTime: 20210413,
startPctVol: 0.1,
endPctVol: 0.2
}

If you have any further questions or issues sending IB Algo Orders please reach out to the API Group, ref: https://www.interactivebrokers.com/en/index.php?f=47047.

Visit the IBKR API Center for Downloads, Resources, and Technical Details:
https://www.interactivebrokers.com/en/trading/ib-api.php.

See the previous installment in this series: Tutorial: Web API – Connect to Brokerage Session.