stoploss

[shawnkm]

I am trying to set a stop loss at the low of one bar before entry and I can't get it.

Example:

Bar 1: low = 49
Bar 2: entry point = 50

I want the stop loss to be constant at 49. Isn't this the code:

SetStopLoss(CalculationMode.Price, Low[1]);

Its not working for me.

[NinjaTrader_ZacharyG]

Hello shawnkm,

Thank you for writing in.

One way you can do this is by setting the stop loss within OnExecution(). OnExecution() is called on an incoming fill. So, once the order fills, place your stop loss as desired.

Example:

protected override void OnBarUpdate()
{
     // entry logic
     EnterLong("Entry");
}

protected override void OnExecution(IExecution e)
{
     if (e.Order.Name == "Entry" && e.Order.OrderState == OrderState.Filled)
          SetStopLoss(CalculationMode.Price, Low[1]);
}

For more information about OnExecution(), please take a look at this help guide link: https://ninjatrader.com/support/help...nexecution.htm

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

[shawnkm]

This is still getting me.... for a day and a half I can not get this.

I tried the on execution, and it works in some areas and some areas it doesn't.

Is there an easy code to set the stoploss... or it can be a simple ExitLong command to look at the low of the bar before the entry to set an exit?

Thanks again!

[NinjaTrader_ZacharyG]

Hello shawnkm,

Can you please clarify what you mean by SetStopLoss() working sometimes and not other times?

Are you getting an error? Have you ensured that you're matching up the signal name of your entry to the order name of the execution calling OnExecution()?

[shawnkm]

Sure... i am not getting an error, but I scan the backtest strategy and i notice that sometimes it worked and others it didn't.

I labeled the long entries just to make sure. Labeled them "test1". Sometimes "test1" used the stoploss and other times it didn't.

Can we just write an exitlong command instead of the execution call to simplify the process?

[NinjaTrader_ZacharyG]

Hello shawnkm,

The stop loss will not appear on the chart unless it has been hit and has exited your order, nor will it appear under the Executions tab of the backtest results as this would only show filled orders.

Additionally, if the "exit on close" backtest parameter is set to true, your strategy may exit before even hitting your established stop loss.

If you would like to use an ExitLong() to exit your order, you'll have to check the instrument's current close price and compare it to some variable set to Low[1] when you entered.

If the instrument current price is less than or equal to the variable, call ExitLong().

As an example:

private double prevBarLow = 0;

protected override void OnBarUpdate()
{
     // entry logic
     if (Position.MarketPosition == MarketPosition.Flat)
     {
          EnterLong();
          prevBarLow = Low[1];
     }

........

     if (Position.MarketPosition == MarketPosition.Long && Close[0] <= prevBarLow)
          ExitLong();
}