Hi, Bybit has this feature of conditional orders. You can make a conditional limit order or conditional market order. It works similar to limit orders, but instead of buy\sell immediately when the price reaches the order, it places the order type you choose. If you choose a conditional market order, it will instantly place a market order. In case you choose conditional limit order, when the price reaches the order it will place a limit order for the price you wanted for the limit order. I guess people mostly use it for conditional market orders and less for conditional limit orders.
Why it’s good and useful? I tested and found out that from the moment TV sends an alert to the “tradingview to anywhere” webhook, it takes about 3-3.5 seconds to be placed on the exchange. It is a lot of time, and sometimes my orders can go 0.5%-0.7% below or above the price when the alert got activated. With a conditional market order, I can place a market order to be activated later when the price reaches my target, which will instantly buy at the price I wanted without delays of 3 seconds.
