Where to start if I want to create a strategy on a trading set-up?

[belecona]

I have a very good trading system, ie when the indicators align one should enter a trade. Human eyes are slower than the signal and I am thinking of making it an auto trade strategy.

I am not a technical person and would appreciate any assistance in directing me to the right start. If it's not feasible, at least I will save some hours on a fruitless venture.

Please help. My trillion thanks in advance.

[NinjaTrader_Austin]

belecona, please see this page for a brief overview of the process and some links to the programming tutorials.

[belecona]

My belated thanks Austin. I will go through the suggested link.

[belecona]

I'm unable to have an early exit condition (Line 74 to Line 90) triggered even F5 gave me a Compile Successful message. Not sure if the SetStopLoss on Line 50 matters.

What I'm trying to do:

1. An initial 15 ticks stoploss.

2. When the trade is working, say 8 ticks from the entry price, I would like to have stoploss at entry+4 ticks (replace the earlier 15-tick one).

Please help! Thank you.

[NinjaTrader_RyanM1]

Hello Belecona,

Would you post the code text you're working with rather than an image?

One thing to evaluate is the previousPrice variable is what you expect.

[belecona]

Text Code

Here it comes Ryan. Please help! Thank you.

Also have the strategy in the enclosed text file.




// Move the SL to a more favorite position when the trade starts working
if (Position.MarketPosition == MarketPosition.Long)
{
if (Close[0] == Position.AvgPrice + (8 * TickSize) && previousPrice == 0)
{
SetStopLoss("", CalculationMode.Price, Close[0] + (4 * TickSize), false);
previousPrice = Position.AvgPrice;
}
}

if (Position.MarketPosition == MarketPosition.Short)
{
if (Close[0] == Position.AvgPrice - (8 * TickSize) && previousPrice == 0)
{
SetStopLoss("", CalculationMode.Price, Close[0] - (4 * TickSize), false);
previousPrice = Position.AvgPrice;
}
}

[NinjaTrader_RyanM1]

Hello Belecona,

One thing I see is this on your long entry:

SetStopLoss("", CalculationMode.Price, Close[0] + (4 * TickSize), false);


You're setting the Stop Loss 4 ticks above the current market price. This is not allowed. Maybe switch to 4 ticks below current market price? Switch around your SetStopLoss statements for long and short.

[belecona]

Hi Ryan

What I am trying to do is when the trade is moving 8 ticks to my favor, set stoploss to my entry price + or - 4 ticks for long and short trades respectively. The stoploss will not be above the current market price. Please help. Thank you.

Here it comes my script text again:


// Move the SL to a more favorite position when the trade starts working
if (Position.MarketPosition == MarketPosition.Long)
{
if (Close[0] == Position.AvgPrice + (8 * TickSize) && previousPrice == 0)
{
SetStopLoss("", CalculationMode.Price, Close[0] + (4 * TickSize), false);
previousPrice = Position.AvgPrice;
}
}

if (Position.MarketPosition == MarketPosition.Short)
{
if (Close[0] == Position.AvgPrice - (8 * TickSize) && previousPrice == 0)
{
SetStopLoss("", CalculationMode.Price, Close[0] - (4 * TickSize), false);
previousPrice = Position.AvgPrice;
}
}

[NinjaTrader_RyanM1]

Hello Belacona,

If you specify your stop price as (Close[0] + anyValue), then your order is placed above the current market price.

What mesages are you seeing in the log tab of the control center for your strategy?

[belecona]

Thanks Ryan. How can I find a way to get around it? How about a trail stop? I tried and it's not triggered too .. sigh .. Will keep exploring.

Another quick question please. What's the difference between the following 2 Long entry instructions:

1. EnterLong()
2. EnterLongLimit(DefaultQuantity, Open[0], "")

First I thought Item 1. will ask the system to go long at open when long signal get triggered - same as Item 2. However, the backtest results told me otherwise, ie Item 1. has a gross profit 9 times more than Item 2.?! Would appreciate your educating the difference.

I am very sorry for asking simple questions as I'm new to strategy development. My strategy looks good (backtest results I meant) except I need to enhance the entry point (to avoid substantial slippage) + adding a condition to protect the ticks gained. Not sure how to do both yet. Any comments are greatly appreciated. Thank you.

[NinjaTrader_RyanM1]

Hello Belecona,

If you switch the - and + signs on your SetStopLoss statements, it might work the way you expect.


For Backtesting:
1. Enters a market long order at the open of the next bar following signal bar.

2. Enters a long limit order. Limit price is the open of the signal bar.

[belecona]

Thanks Ryan. Your swift response has made my day. I will knock at your door again after reviewing/revising my strategies. Thank you!

[NinjaTrader_RyanM1]

Belecona,

Glad to help. Thanks for the feedback.

[belecona]

Good morning Ryan

Need to pick your brains again. I tried the CrossAbove/CrossBelow between 2 indicators to trigger an entry. When I checked the chart, I notice upon completion of the first trade, the system continued entering into more trades as long as Indicator 1. was above or below Indicator 2! That's not what I want.

I want only trades when CrossAbove or CrossBelow happens (not just above or below). Please help! Thank you.

Have a Nice day.

[NinjaTrader_RyanM1]

Hi Belacona,

CrossAbove and CrossBelow should only be true if there was a crossing event. Maybe your "lookback period" is set to look for cross events over many bars.