Coygo Forge Market Maker - Determine when to order or cancel.js

/*
  Determine if orders should be submitted or cancelled
*/
let shouldSubmitBuyOrder = false;
let shouldCancelBuyOrder = false;
let shouldSubmitSellOrder = false;
let shouldCancelSellOrder = false;


// determine if it's time to submit or cancel the buy order
if (!buyOrder.get()) {
    // if no current buy order exists it's time to submit one
    shouldSubmitBuyOrder = true;
    coygo.log('## No current buy order found. Signalling to submit a new buy order');
} else {
    coygo.log('## Current buy order:');
    const buyOrderObj = buyOrder.get();
    let buyOrderTableLog =
        `| Property | Value |
| ---- | ---- |
| side | ${buyOrderObj.side} |
| status | ${buyOrderObj.status} |
| rate | ${buyOrderObj.rate} |
| amount | ${buyOrderObj.amount} |
| filled | ${buyOrderObj.filled} |
  `;
    coygo.log(buyOrderTableLog);

    // if a current buy order exists we need to check its status and rate to determine if we need
    // to submit a new order or cancel it
    if (isWaitingForBuyToCancel.get() === true) {
        coygo.log('Waiting for the buy order to be canceled. Buy order=', buyOrder.get());
        if (buyOrder.get().status === coygo.orderStatuses.canceled) {
            // we were waiting for the buy order to confirm being canceled and now it's done. time to submit new order
            shouldSubmitBuyOrder = true;
            isWaitingForBuyToCancel.set(false);
            coygo.log('Buy order finished being canceled. Signaling to submit a new buy order');
        }
    } else if (buyOrder.get().isOpen === false) {
        // the existing buy order is no longer open, time to re-submit a new one
        shouldSubmitBuyOrder = true;
        coygo.log('Current buy order is no longer open. New order status: ' + buyOrder.get().status + '. Signalling to submit a new buy order.');
        buyOrder.set(null);
    } else if (buyOrder.get().isOpen === true) {
        // current buy order found and is open. check if it needs to be cancelled by calculating difference between this order's rate and current ask
        // example: "ask" is 100, order "rate" is 95. difference = ((100 - 95) / 100) * 100 = 5. "rate" of 95 is 5% from "ask" of 100
        const differenceBetweenRateAndAsk = ((orderBook.ask - buyOrder.get().rate) / orderBook.ask) * 100;
        coygo.log('An existing buy order was found, determining if it should be cancelled');
        if (differenceBetweenRateAndAsk > cancelOrderThresholdInput) {
            shouldCancelBuyOrder = true;
            coygo.log('The buy order was found to be too far from current ask. Signaling to be cancelled', {
                ask: orderBook.ask,
                'order rate': buyOrder.get().rate,
                'difference between rate and ask': differenceBetweenRateAndAsk.toFixed(4) + ' %',
                'cancel order threshold': cancelOrderThresholdInput + ' %'
            });
        } else {
            coygo.log('The buy order was found to be within the proper threshold and will not be cancelled', {
                ask: orderBook.ask,
                'order rate': buyOrder.get().rate,
                'difference between rate and ask': differenceBetweenRateAndAsk.toFixed(4) + ' %',
                'cancel order threshold': cancelOrderThresholdInput + ' %'
            })
        }
    }
}
coygo.log('Finished determining next actions for buy order', {
    'is waiting for buy to cancel?': isWaitingForBuyToCancel.get(),
    'should submit buy order?': shouldSubmitBuyOrder,
    'should cancel buy order?': shouldCancelBuyOrder
});


// determine if it's time to submit or cancel the sell order
if (!sellOrder.get()) {
    // if no current sell order exists it's time to submit one
    shouldSubmitSellOrder = true;
    coygo.log('## No current sell order found. Signalling to submit a new sell order');
} else {
    coygo.log('## Current sell order:');
    const sellOrderObj = sellOrder.get();
    let sellOrderLog =
        `| Property | Value |
| ---- | ---- |
| side | ${sellOrderObj.side} |
| status | ${sellOrderObj.status} |
| rate | ${sellOrderObj.rate} |
| amount | ${sellOrderObj.amount} |
| filled | ${sellOrderObj.filled} |
  `;
    coygo.log(sellOrderLog);

    // if a current sell order exists we need to check its status and rate to determine if we need
    // to submit a new order or cancel it
    if (isWaitingForSellToCancel.get() === true) {
        coygo.log('Waiting for the sell order to be canceled. Sell order=', sellOrder.get());
        if (sellOrder.get().status === coygo.orderStatuses.canceled) {
            // we were waiting for the ellrder to confirm being canceled and now it's done. time to submit new order
            shouldSubmitSellOrder = true;
            isWaitingForSellToCancel.set(false);
            coygo.log('Sell order finished being canceled. Signaling to submit a new sell order');
        }
    } else if (sellOrder.get().isOpen === false) {
        // the existing sell order is no longer open, time to re-submit a new one
        shouldSubmitSellOrder = true;
        coygo.log('Current sell order is no longer open. New order status: ' + sellOrder.get().status + '. Signalling to submit a new sell order.');
        sellOrder.set(null);
    } else if (sellOrder.get().isOpen === true) {
        // current sell order found and is open. check if it needs to be cancelled by calculating difference between this order's rate and current bid
        // example: "bid" is 100, order "rate" is 105. difference = ((105 - 100) / 100) * 100 = 5. "rate" of 105 is 5% from "bid" of 100
        const differenceBetweenRateAndBid = ((sellOrder.get().rate - orderBook.bid) / orderBook.bid) * 100;
        coygo.log('An existing sell order was found, determining if it should be cancelled');
        if (differenceBetweenRateAndBid > cancelOrderThresholdInput) {
            shouldCancelSellOrder = true;
            coygo.log('The sell order was found to be too far from current bid. Signaling to be cancelled', {
                bid: orderBook.bid,
                'order rate': sellOrder.get().rate,
                'difference between rate and bid': differenceBetweenRateAndBid.toFixed(4) + ' %',
                'cancel order threshold': cancelOrderThresholdInput + ' %'
            });
        } else {
            coygo.log('The sell order was found to be within the proper threshold and will not be cancelled', {
                bid: orderBook.bid,
                'order rate': sellOrder.get().rate,
                'difference between rate and bid': differenceBetweenRateAndBid.toFixed(4) + ' %',
                'cancel order threshold': cancelOrderThresholdInput + ' %'
            });
        }
    }
}

coygo.log('Finished determining next actions for sell order', {
    'is waiting for sell to cancel?': isWaitingForSellToCancel.get(),
    'should submit sell order?': shouldSubmitSellOrder,
    'should cancel sell order?': shouldCancelSellOrder
});