SetTrailStop

[stefy]

Hi,

After I entered a position, I would like to set a trailing stop based on the EMA(p). To do that, I wrote in OnBarUpdate():

SetTrailStop(CalculationMode.Price, EMA(p)[0])

but it doesn't work (even if it appears in the TraceOrders).

How can I obtain such behaviour?

Thank you

[NinjaTrader_RyanM1]

Hello Stefy,

There may be issues here if you're trying to access the EMA value from the initialize method or if the EMA value is trading higher than the last traded price (for a long position)

You can add a check for this when in a long position:
if (Position.MarketPosition == MarketPosition.Long && EMA(14)[0] < Close[0])
SetStopLoss(CalculationMode.Price, EMA(14)[0]);

[stefy]

Hi Ryan,

I used your code and I got the following message in the Log:

Trailing Stops for the strategy cannot be calculated with CalculationMode.Price. Please use one of the other modes.

If I want to set a trailing stop on a moving average, what other mode should I employ?

Thanks

[NinjaTrader_RyanM1]

Thanks for letting us know Stefy. You can use SetStopLoss() method instead if you want the stop loss submitted at the EMA price. It will update the price continuously.

Trailing stop will place a stop loss order in relation to the current traded price, so submitting as mode price doesn't make sense here.

My first reply has been corrected.