Strategy Wizard/ Condition Builder

[abikambic]

Hello,
Can you use the strategy wizard/ condition builder to build a trading system that is purely price based trading on entries and exits.

For example what if someone wanted to enter a trade long at the first higher low that occurred during a downtrend and exit that long position at the first break of a previous swing low in this uptrend my entry position is in or at the first lower high that occurs in this uptrend my open position is in. Thanks Much

[NinjaTrader_DaveI]

Hello,

You should absolutely be able to do this. In the Wizard, you can reference price data via the Condition Builder in the "Price Data" section. You can reference things like the Close (or last traded price on the current bar), the Ask, Bid, High, Low, etc. You can then store price data in user-defined inputs that you set up in the first screen of the Wizard.

You could even use a Swing indicator to detect swing highs and lows for you, then reference the values of the indicator in your conditions.

If you would like a more thorough walkthough of exactly how to set it up, please let me know the specific parameters of your entries and exits, and I'll be glad to help.

[abikambic]

I am kinda surprised this type of trading can be done. Wow. That would be wonderful, your offer to help set this up in Condition Builder/ Strategy Wizard.Thank You!

I am thinking of the possibility of having different variables for the entry of the first higher low or first lower high for entries. Possibly having the entry price being the break of the previous swing high of that first higher low or previous low of that first lower high. Or possibly just the break of the high of that first higher low, high of that bar, for example. There is 1 other possible way to choose to enter the first higher low and first lower highs for entry.

That is where maybe backtesting etc. can help determine which one is the best as far as profit potential.

I have studied by tail off on forex price movement and have these patterns of price movement etc. and need a way to build them and backtest them to see if they are viable repeating patterns of price movement. I have noticed price movement moves in patterns that just repeat, what was in the past repeats in the future.

How would you like to proceed on this. Thanks Much!

Steve

[NinjaTrader_DaveI]

Hello,

I've worked up a brief video that will walk you through the basic mechanics of checking for price action patterns, setting user variables, and entering based on price crossing the values of those user variables. You can view the video at the link below:

http://screencast.com/t/DHDjcjOtH

There are more things that you can do with the Strategy Wizard, as well, such as attaching a stop loss and profit target to your entry orders. You can find more information about using the Strategy Wizard at the links below:

https://www.youtube.com/watch?v=Maaq...56536A44DD7105

http://www.ninjatrader.com/support/h...egy_wizard.htm

For further reference, I've also attached the working copy of the strategy shown in my video, so that you can use it as a starting point if you wish.

[abikambic]

Thanks Much for your help. I will definitely look at it!

[abikambic]

If I understood the video correctly, price was moving down, than the low of 1 bar ago was higher than the low of 2 bars ago and the high of 1 bar ago was higher than the high of 2 bars ago, than we would enter on the break below the low of 1 bar ago. To summarize, price was moving down than went into a counter trend move, than we would enter on the break of the low of 1 bar ago of that counter trend. Yes?

[abikambic]

User Variables. On pure price based trading. Are these what someone would use if after a trade is opened, and lets say price can only do 4 things in the way it moves after I open the trade, and I want to respond properly to each of these 4 possible ways price can move after I open the trade. Are User Variables the best way to do this or do you just put these 4 possible ways price can move in conditions and place the response for these 4 conditions in the actions.

These 4 ways price can move after a trade is opened can happen in any order, only 1 could happen, or 2 could happen, does not have to be all 4.

The response though to each of these 4 price scenarios is very exact, depending on which one occurs.

[NinjaTrader_DaveI]

Hello,

When you are working with the Wizard, I would say that simply setting up each scenario as a separate condition would be the best way to go. However, in code you could be much more efficient and use variables much more freely, so using variables would probably be best in that scenario.

It sounds like you interpreted my example correctly. Keep in mind that the example was intended as a demonstration of how to compare bars to other bars, but you will likely need to make some changes to detect the specific price-action patterns you are looking for.