Define Exit Conditions for a strategy,

[traderfolife777]

Hello All,

Trying to use strategy wizard to define an exit strategy to an entry. From my initial entry if market goes against me 3 bars. Then Exit. Any Ideas on how to do that.

[traderfolife777]

Also, If price goes in my favor then reverse 3 bars then that meets my condition to exit.

[NinjaTrader_ZacharyG]

Hello traderfolife777,

Thank you for your inquiry.

Here is an example below that will exit if three bars go against you in a long position:

When the following conditions are true:
(add these conditions)
(symbols in brackets denote what to select in the middle column)
Strategy -> Current market position [==] Strategy -> Long
Misc -> Bars since entry [==] Misc -> Numeric value -> Parameters/Value = 3
Price data -> Close -> Parameters/Bars ago = 0 [<] Price data -> Close -> Parameters/Bars ago = 1
Price data -> Close -> Parameters/Bars ago = 1 [<] Price data -> Close -> Parameters/Bars ago = 2
Price data -> Close -> Parameters/Bars ago = 2 [<] Price data -> Close -> Parameters/Bars ago = 3

Do the following:
(add this condition)
Order management -> Exit long position

Can you please provide clarification on your second post? Are you wanting to exit if three bars go in your favor as well?

[traderfolife777]

IF I am short market goes in my favor 6 candles for example then goes back up 3 candles then I want to be out at the close of the third..Is the logic for that similar to what you wrote above.

[NinjaTrader_ZacharyG]

Hello traderforlife777,

The logic would be similar.

I would suggest using a User Defined Variable that will keep track if a condition you have created is true or not, and using that variable, determine if another set of code will execute.

Example:

Set 1
When the following conditions are true:
(add these conditions)
(symbols in brackets denote what to select in the middle column)
Strategy -> Current market position [==] Strategy -> Short
Price data -> Close -> Parameters/Bars ago = 0 [<] Price data -> Close -> Parameters/Bars ago = 1
Price data -> Close -> Parameters/Bars ago = 1 [<] Price data -> Close -> Parameters/Bars ago = 2
Price data -> Close -> Parameters/Bars ago = 2 [<] Price data -> Close -> Parameters/Bars ago = 3
Price data -> Close -> Parameters/Bars ago = 3 [<] Price data -> Close -> Parameters/Bars ago = 4
Price data -> Close -> Parameters/Bars ago = 4 [<] Price data -> Close -> Parameters/Bars ago = 5
Price data -> Close -> Parameters/Bars ago = 5 [<] Price data -> Close -> Parameters/Bars ago = 6

Do the following:
(add this condition)
Misc -> Set user defined variable -> Parameters/Variable = Variable0 and Parameters/Value = 1

Set 2
When the following conditions are true:
(add these conditions)
(symbols in brackets denote what to select in the middle column)
User variables -> Variable 0 [==] Misc -> Numeric value -> Parameters/Value = 1
Price data -> Close -> Parameters/Bars ago = 0 [>] Price data -> Close -> Parameters/Bars ago = 1
Price data -> Close -> Parameters/Bars ago = 1 [>] Price data -> Close -> Parameters/Bars ago = 2
Price data -> Close -> Parameters/Bars ago = 2 [>] Price data -> Close -> Parameters/Bars ago = 3

Do the following:
(add these conditions)
Order management -> Exit short position
Misc -> Set user defined variable -> Parameters/Variable = Variable0 and Parameters/Value = 0

[traderfolife777]

need your help

One More thing... by the way your information is helpful.

Building logic:-
Looking to build a short logic to enter a trade on a reversal candle after price penetrated SMA moving average.

Short Scenario:

Close 1>Close 3
Price has moved up and touched or penetrated SMA 50.
price Reversed and closed under the SMA 50 within 2 candles since the price penetration.
Then Executed the short- entry market.

Having a hard time coming up with a logic on market wizard to do this.

Also, Is it possible to have a trailing stop along with multiple exit conditions . will that lead to conflict and multiple orders to exit sent then error message and strategy disabled.

[NinjaTrader_ZacharyG]

Hello traderforlife777,

Here are some tips:

You could use the CrossAbove or CrossBelow in the middle column when adding conditions to check if the closing price has crossed above or below the SMA.

You could use a user defined variable to keep track of how many bars have elapsed since the cross over by incrementing it by 1 each time a bar has passed.
Example:

Misc -> Set user defined variable -> Parameters/Value = Variable0 + 1 (increments Variable0 by 1)

Then check to see if the closing price is below the SMA and the Variable0 was a number from 0 - 2 (checking to see if the closing price has been below the SMA value within 2 bars)
Example:

User variables -> Variable0 [<] Misc -> Numeric value -> Parameters/Value = 3
Price data -> Close [<] Indicators -> SMA -> Parameters/Period = 50

A trail stop order is automatically cancelled if the managing position is closed by another strategy generated exit order, so you shouldn't have any conflicts.

[traderfolife777]

need your help

I am trying to build a condition in strategy wizard:

Long:

LOW of candle [< or =] 50 SMA then that same candle closes[>] 50 SMA.
Send market order to buy at the close of that (Trigger Candle).

If candle closes under the 50 SMA then NO Trade.

What would be the logic for that.
If I calculate the strategy at the close of each bar would that be an issue if I want to see a price behavior that is intra candle..

Let me know if this is making any sense to you.

All the information below is invaluable.

Thank you
george

[NinjaTrader_ZacharyG]

Hello traderfolife777,

Unfortunately, this would go beyond the realms of using the Strategy Wizard and would require custom coding.

I would suggest looking at the Educational Resources section of the NinjaScript section of our help guide for helpful information as a good starting off point: http://ninjatrader.com/support/helpG..._resources.htm

Please, let us know if we may be of further assistance.