Entering a position based on pips

[sparhawk]

Newbie NT user here. Thanks for looking, hopefully you can help and I'll give back to the community as I get better.


I'm trying to create a simple strategy that will allow me to go long as an instrument crosses above the 90's, and sell after 20 or so pips.


It would activate based on the pips, not on 1 price level? so it would repeat for 1.4790 (sell at 1.4810), buy 1.4890 (sell at 1.4910) , buy at 1.4990 (sell at 1.5010) ...


Is it possible to do something generic like this so that I can run it across many instruments, could you point me in the right direction for a strategy? i've looked at the others and they're all using indicators and cross-overs and price levels.


Thanks in advance,


Sp

[NinjaTrader_RyanM1]

Hello sparhawk,

Thank you for your post.


This should be possible with custom programming.

It sound like you want to define an initial condition with a crossover and then scale into positions based on the price when your first condition occurred.
You would need to add some extra statement in your first condition to capture the price level. Then for your next entry you could use something like.
if (Close[0] >= CapturedPriceLevel + TickSize * 100)

You may consider using a NinjaScript consultant to help code this for a fee:

http://www.ninjatrader.com/webnew/partners_onlinetrading_NinjaScript.htm

You can use the strategy analyzer to backtest a group of stocks. For current version 6.5 backtest results are only calculated on individual instruments within the group, but for version 7 you will be able to get a cumulative report.