Exit at Keltner Midpoint

[mikem144]

I'm trying to set up an exit in the strategy wizard where a long or short position will exit at the Keltner midpoint, and can't seem to get it right. Any help on how to properly set it up would be greatly appreciated.

I currently have the exit conditions and actions in tab set 2 as follows:

Conditions:

Pposition MarketPosition == MarketPosition Long
High[0]>= KeltnerChannel(5,55) Midline[0]

Do the following:

ExitLongLimit(KeltnerChannel(5,55) Midline[0], ",")

Thanks.

[NinjaTrader_PatrickH]

Hello mikem144,

Thank you for your post.

If the High of the current bar becomes greater than the KeltnerChannel Midline it is likely also the last price or Close[0] as well. If the Close[0] is above the KeltnerChannel Midline, setting a Sell Limit Order (ExitLongLimit() method) to the Midline will be incorrect and the order will be rejected. So in this case we would use ExitLongStop() instead if we want to exit the long below the current market price.

If you check your Log tab when running the strategy are you receiving any errors concerning orders? If so, what do they report?

[mikem144]

If I set the exit action as:

ExitLongStop(KleltnerChannel(5,55) Midline[0], ","), the error log reads: Failed to get property 'AnotherChart' for indicator' _HorizontalLines': Object reference not set to an instance of an object.

[NinjaTrader_PatrickH]

Hello mikem144,

Thank you for your response.

If I set the exit action as:

ExitLongStop(KleltnerChannel(5,55) Midline[0], ","), the error log reads: Failed to get property 'AnotherChart' for indicator' _HorizontalLines': Object reference not set to an instance of an object.

Are you using the '_HorizontalLines' indicator in your strategy code?

When using ExitLongStop(KleltnerChannel(5,55) Midline[0], ",") are you exits working properly? If not, are you seeing entries with your strategy?

[mikem144]

No. That message probably refers to other open charts.

If I set the exit action to a ExitLongStop(), what would you suggest the parameters be for the stop if I wanted to exit at the Keltner Midline?

[NinjaTrader_PatrickH]

Hello mikem144,

Thank you for your response.

The price level of the ExitLongStop() would still be the KeltnerChannel Midline.

[mikem144]

Thanks, Patrick.