Converting Market Order to Limit Order

By | August 10, 2018

Every hour my algo decides whether to trade or not. Given the close of a candle, say my algo signals a buy, I can immediately place a market order and hence would be charged taker fees. When the number of trades increase to say 100, this taker fees (market price execution) takes a good chunk of profits.

I want to convert this market order to limit order using some strategy so that I earn maker fees instead of paying taker fees.

Is there any strategy out there? I guess many would have faced the same issue of large commission from exchanges. Any reference to papers or implementation would be very useful.