trading off the chart, with dynamic stop and target - is it possible?

[gogetit]

Hi all,

I have a daytrading strategy, and I'm wondering if I can semi-automate it using NT.

Let's say I have intraday chart. I would like to pick one of the bars, and set a buy-stop order [to go long] just above bar's high. and I would like to pick another bar, and set the stop just below it. Basically, i'm identifying a range, in which a break above it will trigger a long position and a fall below it [if already in position] will close the position.
The target profit will also be a factor of that range [for example, 2 times the distance between the entry and the exit prices].

Is this even possible with NT? if so, can you please show me an example?

Thank you for the time.

[NinjaTrader_RyanM1]

Hello gogetit,

If you want to manually enter and automate your exits, ATM strategies can be used. You can see here for an introduction to ATM strategies, including a few videos with examples:

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

They won't do exactly what you're looking for. They're used to place targets and stop losses that are submitted upon entry execution. These orders are predefined and submitted in relation to your entry price, not indicator or price values.

You can access the range of a bar and submit stop orders in a NinjaScript automated strategy based on its value. For this you also have to define programatically the conditions for entry as well.

[gogetit]

Thank you for the quick reply!

My main priority is to avoid entering stop/target/quantity manually.
Is it possible to combine NinjaScript automated strategy with bars I pick manually off the chart?

[NinjaTrader_RyanM1]

Unfortunately this is not supported. NinjaScript strategies require you define conditions for entry and exit programmatically

[gogetit]

I see. Thank you.