Configure ATR variable without code

[andrewnyc]

Hi,

How do I define a stop in the strategy wizard when the price falls back by half the ATR?

Do I need to use coding or is it possible to do so in the condition builder? I ve been working for hours on that and I can't figure it out...

Thanks.

[NinjaTrader_Brett]

Hello,

Sure, this can be done however takes a little bit to figure out.

First things first you need to be able to figure out at what point you want to take this measurement.

At the high of the day? the swing high? what value? or any value?

How do I define a stop in the strategy wizard when the price falls back by half the ATR?

Then you take take the ATR and devide that by 2 with an offset. Then you compare that and store this value in variable in the DoTheFollowing section.

Then you take that variable this is the number of ticks down or up your watching for.

Then you take that variable and subtract it vs the Close price to get the trigger price. This is all in the DoTheFollowing section of the first bar that you start monitoring for this.

Then your setup in a secondary set to check if Close price is >= or <= depending on if your planning on going long or short before you go live this trigger price which would be your half atr level.

Then take action in the do the following.

Let me know if I can be of further assistance.

[andrewnyc]

Thanks Brett. I m still confused with what to do here:

"take the ATR and devide that by 2 with an offset. Then you compare that and store this value in variable in the DoTheFollowing section"

I don't know how to store a value in a variable under "Do the Following" section.
You know what, I learned to use NT intuitively in the past 3 days I leased it, but I think I need to read the Condition Builder help guide and see if I can figure out how to configure what you described to me. I ll let you know if I still cant figure it out. Is there any other sections I should read in the help guide, in addition to the "Condition Builder", to understand how to configure this?

Thanks.

[NinjaTrader_Brett]

hello,

Thats ok this one was a little tricky expecially if you havnt worked with the strategy wizard much.

To do divides best way is to use percentage offset mode like this.

50 Percent is the same as divide by 2.