Question about trailing stops

[tradefaz]

I am looking to have a setup for trailing stops that I get the feeling I will have to code on my own because it seems this logic doesn't exist at the broker level (my broker is IB).

I want to set the stop for a losing position to be say 10 ticks, and I want a trailing stop for the winning position to be 10 ticks as well. But what happens is that if the position goes up 8 from time of entry, and then falls -2 below where I entered, it sees it as having fallen 10 from the high, and closes it -2 below. But my logic never wants to close when its down by less than 10.

So will I have to code this by hand or is there a way to set up this order logic with Ninja Script and my broker's order types?

[NinjaTrader_JoshP]

Yes. Please see the reference sample for OnOrderUpdate() and OnExecution().

[tradefaz]

Yes. Please see the reference sample for OnOrderUpdate() and OnExecution().

Is there an example specific to my question or do you mean those are the events I would use to handle this case? I guess I should be just issuing a stop loss and then doing my own exit at market when the price reaches a high and then falls below a threshold? Or are you talking about something else? Thx.

[NinjaTrader_JoshP]

Go to the Reference Sample section of the forums and find the sample for OnOrderUpdate(). It will show you techniques that you can apply over to your case, but it is considered more advanced programming.