How to set up Keltner Midline Exit in wizard

[mikem144]

I'm trying to set up an exit in the strategy wizard where a long or short position will exit at the Keltner midpoint, and can't seem to get it right. Any help on how to properly set it up would be greatly appreciated.

I currently have the exit conditions and actions in tab set 2 as follows:

Conditions:

Pposition MarketPosition == MarketPosition Long
High[0]>= KeltnerChannel(5,55) Midline[0]

Do the following:

ExitLongLimit(KeltnerChannel(5,55) Midline[0], ",")

Thanks.

[NinjaTrader_CalH]

Mikem144,

Thank you for your post.

I don't see anything standing out that would cause the issue. What exactly is not working?

Is the order not being placed?

[mikem144]

The long position doesn't exit at the Keltner, rather it exits at a monetary stop.

[mikem144]

If I set Do the following to:

ExitLong(",") the long position exits at the open of the following bar after the Keltner Midline condition is met.

However, I would like to exit at the Keltner Midline itself.

[NinjaTrader_CalH]

Mikem,

What do you mean by a monetary stop?

You are also placing the Limit order on the wrong side of the market price. If you are checking if the price is equal to or greater than the Midline and then placing a limit order at that market price or below it.

Additionally, the ExitLong() will use a market order to exit which with back test is filled at the open of the next bar

[mikem144]

By monetary stop, I have set up a stop in the Stops and targets tab as follows:

SetStopLoss(", CalcualtionMode, Ticks, 15, false)

[mikem144]

So if I'm placing the Limit Order on the wrong side of the market, how should it be set up? The basic logic is that if long, position exits at Keltner Midline. Otherwise it stops out -15 ticks.

[NinjaTrader_CalH]

Mike,

Since, you are using the Set() methods, the Exit() is getting ignored due to the internal handling rules which can be read at the last section of the link below -
http://www.ninjatrader.com/support/h...d_approach.htm

If you are going to be exiting out when you want to then you would need to not use Set() Methods for this purpose.