Need help in developing Fractal Strategy

[ssijbabu]

Hi All,

Need help in developing this strategy

http://www.ninjatrader.com/support/forum/showpost.php?p=305293&postcount=8

You can download the custom indicator from the above thread.

Regards
Sujay

[koganam]

Hi All,

Need help in developing this strategy

http://www.ninjatrader.com/support/forum/showpost.php?p=305293&postcount=8

You can download the custom indicator from the above thread.

Regards
Sujay

Sounds like a straight out use for the Strategy Wizard. Open it up, and set the conditions. They both look like a simple price-cross over Plots.

[ssijbabu]

Sounds like a straight out use for the Strategy Wizard. Open it up, and set the conditions. They both look like a simple price-cross over Plots.

I developed a strategy for fixed stop loss and take profit (Strategy 2).

But for the first strategy, i dont know how to create the exit condition.

Please help me.

Regards,
Sujay

[koganam]

I developed a strategy for fixed stop loss and take profit (Strategy 2).

But for the first strategy, i dont know how to create the exit condition.

Please help me.

Regards,
Sujay

You said it yourself: you want to close at the end of the day. NT has a function called ExitOnClose. That seems to be what it means.

Add the directives to your Initialize() function. Here is the shell:

protected override  void Initialize()
{
    // Triggers the exit on close function 30 seconds  prior to session end
    ExitOnClose =  true;
    ExitOnCloseSeconds =  30;
}

I do not think that you can add those from the Wizard, so you are going to have to unlock the code.

[mypkonline]

Hi Sujay,
The above will not be good for instruments that are open later than 4:15 PM. For example CL closes at 5:15 PM EST and TF closes at 6:00 PM EST and you want to get out before 4:15PM EST.

You could also use the time function to close your position before a major financial news release by using ToTime function

if (ToTime(Time[0]) >= 92000 || ToTime(Time[0]) <= 925000)
{
ExitLong(); //Managed Orders
//ExitShort():
return;
}

OR do not take a position until the news has released or Market has opened.

if (ToTime(Time[0]) <= 93500)
{
return;
}

//if (ToTime(Time[0]) <= 120000 || ToTime(Time[0]) >= 161300)
{
ExitLong();
return;
}

Put these before your code in OnBarUpdate()

[Radical]

Hi Sujay,
The above will not be good for instruments that are open later than 4:15 PM. For example CL closes at 5:15 PM EST and TF closes at 6:00 PM EST and you want to get out before 4:15PM EST.

ExitOnClose doesn't always exit @ 4:15 EST, it exits at the end time specified in the session template you're using.

[mypkonline]

Agreed!
However, I use one strategy for 5 different instruments. It will not work for my if I want close all before 4:15PM EST.

[koganam]

Hi Sujay,
The above will not be good for instruments that are open later than 4:15 PM. For example CL closes at 5:15 PM EST and TF closes at 6:00 PM EST and you want to get out before 4:15PM EST.

You could also use the time function to close your position before a major financial news release by using ToTime function


OR do not take a position until the news has released or Market has opened.





Put these before your code in OnBarUpdate()

The OP made a very specific request.

Strategy 1:

Enter:
Enter long when the price cross upper line or short when the price cross lower line.

[COLOR=Red][B]Exit:[/B]
At the [B]end of the day[/B] (close price of the day).[/COLOR]

There is no mention of 4:15 PM EDT or any other time. I responded to the request made; not made assumptions as to what was wanted. "End of the day", is "end of the day", not 4:15 PM.

When I ask a client for requirements, or even if I answer for free, I expect precision in specification. Indeed, if the scope of work said "end of the day" and I coded that, and the client came back to say what you just said about different instruments closing at different times, I expect that the client would know that, and if he wanted code to close at a specific time regardless of instrument, then that is what the scope-of-work should have said. I would consider it a change in the scope of work, and it would be billable.