ATR based stops and targets

[jzag456]

Hey folks
I want to add a stop loss and profit target to my startegy which depends on the atr value.
I would like to have my stop loss .9 * ATR(14) off the entry and my profit target 1.2 * ATR(14) off the entry.
How do I add this to the ninja scipt strategy?
Thanks in advance.

[NinjaTrader_ZacharyG]

Hello jzag456,

Thank you for writing in.

You'll be able to call SetStopLoss() and SetProfitTarget() to place a stop loss and profit target for your strategy.

https://ninjatrader.com/support/helpGuides/nt7/?setstoploss.htm

https://ninjatrader.com/support/helpGuides/nt7/?setprofittarget.htm

Now, to set your profit target and stop loss, what I would suggest is using OnExecution(). This will allow both your stop loss and profit target to be placed when your entry order fills.

https://ninjatrader.com/support/helpGuides/nt7/?onexecution.htm

To clarify, in a long position for example, are you wanting to place the profit target at the fill price + 1.2 * ATR(14) and the stop loss at the fill price - .9 * ATR(14)?

If this is the case, here's some example logic on how this can be accomplished:

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

protected override void OnExecution(IExecution e)
{
	if (e.Order != null && e.Order.Name == "Entry" && e.Order.OrderState == OrderState.Filled)
	{
                // grab the average fill price of our order and add the current value of 1.2 * ATR(14) to it
		SetProfitTarget(CalculationMode.Price, e.Order.AvgFillPrice + (1.2 * ATR(14)[0]));

                // grab the average fill price of our order and subtract the current value of .9 * ATR(14) from it
		SetStopLoss(CalculationMode.Price, e.Order.AvgFillPrice - (.9 * ATR(14)[0]));
	}
}

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

[jzag456]

Thanks so far.
I copied the lines into my strategy script, but there are still some errors.
I attached the script.

[jzag456]

I found the problem, its working now.