#region imports
from AlgorithmImports import *
#endregion



"""
Here is a conventional QuantConnect example of  a **limit buy order** for QQQ.
This example places a limit buy order for QQQ at 1% below the current closing price. 
The order will only fill if QQQ trades down to the limit price or lower. 
This is conventional because a buy limit order is used when the strategy wants to purchase an asset at a specified price or better, rather than chasing the market higher.

For example, if QQQ closes at $400, the algorithm submits a limit buy order at $396. 
The order will not fill unless QQQ trades at $396 or below. 
This makes the strategy a simple pullback-entry system rather than a breakout-entry system.
"""



#region imports
from AlgorithmImports import *
#endregion

class ConventionalLimitOrderExample(QCAlgorithm):

    def Initialize(self):
        self.SetStartDate(2019, 1, 1)
        self.SetEndDate(2025, 5, 25)
        self.SetCash(1000000)

        self.qqq = self.AddEquity("QQQ", Resolution.Daily).Symbol

        # Strategy parameters
        self.allocation = 0.10          # Invest 10% of portfolio value
        self.limit_discount = 0.01      # Buy only if QQQ trades 1% below current close

        self.order_ticket = None

    def OnData(self, data):
        if not data.ContainsKey(self.qqq):
            return

        price = self.Securities[self.qqq].Close
        if price <= 0:
            return

        # Do not place a new order if already invested or if an order is open
        if self.Portfolio[self.qqq].Invested:
            return

        open_orders = self.Transactions.GetOpenOrders(self.qqq)
        if len(open_orders) > 0:
            return

        # Conventional limit buy:
        # Buy QQQ only at this price or better.
        # Since this is a buy order, "better" means lower than or equal to the limit price.
        limit_price = price * (1 - self.limit_discount)

        quantity = int((self.Portfolio.TotalPortfolioValue * self.allocation) / limit_price)

        if quantity > 0:
            self.order_ticket = self.LimitOrder(
                self.qqq,
                quantity,
                limit_price,
                tag=f"Limit buy QQQ at 1% below close: {limit_price:.2f}"
            )