Does this Trailing Stop code look right?

[alcamie]

Hi people.

Since I can't find a simple example of a trailing stop code on here I thought I would take the example set Break even stop loss code and try to code a trailing stop from it.
I'm not a real crash hot programmer more a hack really, learning as I go.

Here is the result. Assume the variables are declared as they are in the full strategy.

Comments about accuracy etc are welcomed.

// Resets the stop loss to the original value when all positions are closed
switch (Position.MarketPosition)
{
   case MarketPosition.Flat:
        SetStopLoss(CalculationMode.Ticks, stopLossTicks);
	previousPrice = 0;
        break;
    case MarketPosition.Long:
              // Once the price is greater than entry price+ breakEvenTicks ticks, set stop loss to breakeven
            if (Close[0] > Position.AvgPrice + breakEvenTicks * TickSize
		&& previousPrice == 0)
                {
                SetStopLoss(CalculationMode.Price, Position.AvgPrice);
		previousPrice = Position.AvgPrice;
		PrintWithTimeStamp("previousPrice = "+previousPrice);
                }
		// Once at breakeven wait till trailProfitTrigger is reached before advancing stoploss by trailStepTicks size step
	else if (previousPrice	!= 0 ////StopLoss is at breakeven
 		&& GetCurrentAsk() > previousPrice + trailProfitTrigger * TickSize
		)
	        {
		newPrice = previousPrice + trailStepTicks * TickSize;
		SetStopLoss(CalculationMode.Price, newPrice);
		previousPrice = newPrice;
		PrintWithTimeStamp("previousPrice = "+previousPrice);
		}
                break;
    case MarketPosition.Short:
                // Once the price is Less than entry price - breakEvenTicks ticks, set stop loss to breakeven
               if (Close[0] < Position.AvgPrice - breakEvenTicks * TickSize
		  && previousPrice == 0)
                 {
                 SetStopLoss(CalculationMode.Price, Position.AvgPrice);
		 previousPrice = Position.AvgPrice;
		 PrintWithTimeStamp("previousPrice = "+previousPrice);
                 }
		// Once at breakeven wait till trailProfitTrigger is reached before advancing stoploss by trailStepTicks size step
	 else if (previousPrice	!= 0 ////StopLoss is at breakeven
 		  && GetCurrentAsk() < previousPrice - trailProfitTrigger * TickSize
		  )
		 {
		 newPrice = previousPrice - trailStepTicks * TickSize;
		 SetStopLoss(CalculationMode.Price, newPrice);
		 previousPrice = newPrice;
		 PrintWithTimeStamp("previousPrice = "+previousPrice);
		 }
                 break;
           default:
                 break;
}

If anyone has corrections please post.

Regards
Chris

[NinjaTrader_JoshP]

Chris,

Have not tested, but had a quick glance over. It looks fine, but curious, you could use SetTrailStop() for a trailing stop if you wanted. Either way, thank you for the efforts and sample you have posted here.

[alcamie]

Chris,

Have not tested, but had a quick glance over. It looks fine, but curious, you could use SetTrailStop() for a trailing stop if you wanted. Either way, thank you for the efforts and sample you have posted here.

I have implemented it this way as I was under the assumption that you cannot combine with a StopLoss and that I couldn't use a secondary profit trigger and step size other than a single tick step with SetTrailStop(). Am I incorrect with my understanding of the SetTrailStop() usage?

If I am, could you show me a similar example to my post that shows how to use SetTrailStop() please.

Which is the best method?

Cheers

Chris

[NinjaTrader_JoshP]

You cannot combine the use of SetStopLoss() along with SetTrailStop() for the same entry order. SetTrailStop() is indeed for single tick steps.

[alcamie]

Chris,

Have not tested, but had a quick glance over. It looks fine, but curious, you could use SetTrailStop() for a trailing stop if you wanted. Either way, thank you for the efforts and sample you have posted here.

I have now tested this and it works just like the trailing stop in the ATM I have set it up with the variables to allow me to control it just like the Advanced ATM too, so if any one would like it I could post it up as a template or something.

What do you think?

Cheers
Chris

[NinjaTrader_Bertrand]

Thanks for your efforts Chris, we would appreciate a post in our sharing section for reference.