ATR Stoploss

[RSTLNE]

I'm trying to use the strategy wizard to set a stoploss 2 times the ATR and it doesnt seem to be working right. Hopefully you can tell me where I am going wrong.

In the Conditions and Actions box...
In the "Do the Following Section"
I have...
Variable0=(ATR(20)(0))*(1+200)


That breaks down to mean a 20 period ATR for the current bar with a "percent" offset of 200. I'm setting a variable here so I can set that variable as my stop loss amount in the StopLoss section of the strategy wizard.


In the "Stop Loss and Profit Targets" section I have
SetStopLoss("LongEntry",CalculationMode. Ticks, Variable0, false)

That means set a stop loss for the entry signal called "LongEntry". Set it Varible0 ticks away from the entry (Not simulated)

It seems like it sets my stoploss to my entry amount, so I did something wrong with the ATR part.

WHat do you think?

[NinjaTrader_JoshP]

Your percent offset is probably wrong. To be twice the ATR you would just multiply the ATR by 2 not 201.

See if that helps.

[RSTLNE]

Am I going about it the right way though? Should I be using offset?

Is there a way to just multiply using the strategy wizard?

[NinjaTrader_JoshP]

You are approaching it properly. Try this: Offset by 1 (for 100%) so your code looks like this

Variable0 = (ATR(20)[0]) * (1 + 1)

Now bear in mind ATR values are generally already in decimals so when you go try to pass it into the SetStopLoss() as ticks its not going to work out too well. For equities like AAPL, 1 tick would be 1 cent. You can't really say I want a stop loss at 0.6 tick.

I think you are trying to get $0.60 as your stop loss. To do this you would unfortunately need to break away from the Wizard and do some manual edits on the code.

Variable0 = ((ATR(20)[0]) * (1 + 1)) / TickSize;
SetStopLoss("LongEntry",CalculationMode.Ticks, Variable0, false);