Volume Stop

[bigbopper]

I've went over some of the old threads on this subject and tried the volume trigger feature several times in the SIM, but still can't get it right or figure it out. So I'll be as simple and thorough as possible in describing what I want to do:

When I enter a trade, I would like my stop-loss order to be filled only AFTER an xx number of contracts have traded at that price. Example:

Long 1 ES contract @ 1250.00
Stop-loss @ 1248.00
I would like my stop-loss trigger to activate only after 500 contracts have traded at 1248.00

Now I know there's a possibility of price "trading through" w/out activating, or a crummy fill once it does go live, however that's not the issue.

Is this possible? Thx in advance.

[NinjaTrader_Jason]

Hello,

Unfortunately, this is not possible by default. It should be possible upon creating a custom NinjaScript strategy.

The simulated stop order works as follows:

Your stop loss is submitted at 1200 with volume trigger of 750. The order will be triggered only if the price trades at 1200 and the Ask volume (assuming you are in a long position) is less than 750 contracts.

[bigbopper]

Thanks Jason.

[Khepfere]

Volume Stops

Can someone please explain Ninja's logic for writing the Volume Stop in this way (i.e. it triggers if the number of contracts are below the specificed threshold). I would also like to bighooper wants to do and have the logic trigger only if the number of contracts is above the specified threshold. I'm having a hard time seeing the logic of why it was written as it was. Please help. Thx

[NinjaTrader_Ben]

Hello,


Thank you for your note.


I believe the logic is that when volume is very hit it is often because it is a spike and not a perminate move. However, you can think of it anyway you like.

There is no functionality in NinjaTrader by default to do a volume is higher than condition unless you use the Strategy Wizard (Tools>New NinjaScript) or create it with custom NinjaScript programming.