Stop Based On Close of Entry Candle

[P51]

Strategy optimization and walk-forward testing is how I determine my best Stop value for Live auto-trading. In the real world we have Slippage which can result in being stopped out of what could otherwise have been a very big gain.

This isn't new so I searched but could not find anything on how to Set the Stop in a Stratgey based on the Closing price of the Entry bar, rather than from the trade's actual entry price?

Example:
Closing price of 5 min entry candle is 100
Actual entry price, due to slippage, is 98

Normal Ninja Stop entry:
If I have a Stop of 2 points on a Long entry and the actual Entry price for the trade at close of 5 min entry bar is 98, my strategy would place the Stop at 96

New Stop entry:
If I have a Stop of 2 points on a Long entry and the Closing price for the 5 min entry bar is 100, my strategy would place the Stop at 98

Any help would be greatly appreciated.

Dan

[NinjaTrader_Bertrand]

Hi Dan, are you working in the Strategy Wizard or in the NinjaScript editor to create your strategies?

[P51]

Ninja Script. I originally wrote the Strat in the Wizard, but had to unlock it to add some other things.

[NinjaTrader_Bertrand]

Hi Dan, ok have you tried saving the close price of your entry bar to a variable and then using SetStopLoss set to price? Please see this link here - http://www.ninjatrader-support.com/H...tStopLoss.html

Here's a link to a reference sample that might help you - http://www.ninjatrader-support2.com/...ead.php?t=3222

[P51]

Bertrand

Thanks for the links. I will take a look at them and see if I can find a nice way to do it.

[P51]

Bertrand

I'm still not sure how to save the closing price of my entry bar to a variable? Any other help would be appreciated and/or let me know if you need to see any part of my code.

[NinjaTrader_JoshP]

As an Action you want to expand the Misc section. Select the "set user defined variable" one. From there select Variable0 and then select the Close price.