Create a stop order upon a trigger price

[cfree5119]

How would I code a stop order to trigger at my break even price let say if the stock had gained 1%?

[NinjaTrader_Brett]

Hello,

Thanks for the note.

Would you be doing this in the NinjaScript wizard or via the programming in NinjaScript.

-Brett

[cfree5119]

Programming in ninjascript...

[NinjaTrader_Joydeep]

Hello cfree5119,
I am following up Brett and is happy to assist you.

You can use Position.AvgPrice to calculate the new stop like

if (Position.MarketPosition == MarketPosition.Long && Close[0] >= Position.AvgPrice + Position.AvgPrice * .01 )
{
SetStopLoss(CalculationMode.Price, Position.AvgPrice);
}

The above code is for long only.

Please let me know if this works for you or not.

Regards,
Joydeep.

[cfree5119]

Works great! Thank you.

Could I also setup say a 5% stoploss in case the security never hits its breakeven price criteria? Sorry, limited programming experience on my end.

To boot... maybe a price target as well.

[NinjaTrader_Brett]

Hello,

Yes, you would use SetStopLoss() before you enter the trade to the value you would like using the method Joydeep demontrated below. Instead of using Position.AvgPrice and MarketPosition however since that does not exist yet since you are not in a position you would instead just use the Close[0] price and find out where the 5% level would be. Then set your original stop loss to that value.

SetProfitTarget can be used like the following.

http://www.ninjatrader.com/support/helpGuides/nt7/setprofittarget.htm

Also here is the reference for SetStopLoss()

http://www.ninjatrader.com/support/helpGuides/nt7/setstoploss.htm

Let me know if any questions.

-Brett

[cfree5119]

I setup my absolute 5% stop loss under the Initialize() method.

SetStopLoss("Long Turtle Entry", CalculationMode.Percent,stopTrigger1, false);


I then setup my breakeven stop loss under OnBarUpdate() as:

if (Position.MarketPosition == MarketPosition.Long && Close[0] >= Position.AvgPrice + Position.AvgPrice * breakEvenStopTrigger)
{
SetStopLoss(CalculationMode.Price, Position.AvgPrice);
}

The strategy does not recognize the latter when both stop losses are setup. Not sure how to "dynamically" change the sl. Thank you.

[NinjaTrader_Brett]

Hello,

Thanks for the post.

Make sure they both have the same name. You have one with Long Turtle Entry and one without.

Finally please see this sample for dynamically changing the SL and PT.

http://www.ninjatrader.com/support/forum/showthread.php?t=3222

[cfree5119]

Thank you... tremendous help.