Submit multiple orders & Restrict Orders

[MasterSepp]

Hello NinjaTraders,

I have several questions regarding a strategy I am currently working at.

1.) On the start of each new day, I want to submit a Long Limit as well as a Short Limit order, which cancel each other as soon as one is being executed. However, I can only submit one order at a time, depending which one I put first in the code.

EnterLongLimit(DefaultQuantity, Low[0], "");
EnterShortLimit(DefaultQuantity, High[0], "");

2.) I would like to restrict any order, so that it only gets executed if the preceding order in the same direction (long/short) wasn't closed by a stop loss. However, this should only be true until the end of the trading session (i.e. end of day) and reset afterwards.

3.) If the profit target of the current position is met, the strategy waits until the next bar to execute a limited order (which happens to be on the same level as the profit target). Is there a way, to simultaneously execute the profit target as well as the limit order?

I would highly appreciate any help on these three questions, since my programming knowledge is rather limited.

Regards,

Sepp

[NinjaTrader_JC]

Hello Sepp,

1. You can only enter order in different directions using the Unmanaged Approach. Using the Managed Approach will have order handling rules against this.

http://www.ninjatrader.com/support/helpGuides/nt7/index.html?unmanaged_approach.htm

2. You may want to create a new variable to check to see if the Stop Loss order was filled inside of the OnOrderUpdate and then reset the variable when the "Bars.FirstBarOfSession" is true:

FirstBarOfSession: http://www.ninjatrader.com/support/h...rofsession.htm

Here is a reference sample on working with OnOrderUpdate that you may view.

http://www.ninjatrader.com/support/forum/showthread.php?t=7499

3. What is your CalculateOnBarClose (COBC) set to?

Happy to be of further assistance.

[MasterSepp]

Hello JC,

Thank you for your ridiculously fast answer

1. So the easiest solution is to write a strategy for each direction (long/short), since it is not possible to combine them in one (besides the unmanaged approach)?

2. Even with your link, I am not sure how to adress the Stop Loss precisely. I think of referring to the "Stop Loss" exit name, once the order gets executed. In this case, I guess, the OnExecution() task is suited better. But is there a command to address the exit name of an order?

3. It is on true. That should explain my problem, so thank you for that!

Regards,
Sepp

[NinjaTrader_JC]

Hello Sepp,

1. Correct.

2. That would work as well yes. You may use "execution.Name" to get the order name of the execution.

Example:

protected override void OnExecution(IExecution execution)
{
	if("Long1" == execution.Name)
       //Do Something
}

http://www.ninjatrader.com/support/helpGuides/nt7/index.html?iexecution.htm

3. With COBC set to true, NinjaTrader is only going to run your code inside of OnBarUpdate() once at the close of the bar so if you would like to have two orders possible fire off you may want to change this to false, so NinjaTrader is processing your OnBarUpdate() on each incoming tick of data.

http://www.ninjatrader.com/support/helpGuides/nt7/index.html?calculateonbarclose.htm

[MasterSepp]

Thank you JC, I finally managed to resolve all of my problems!