Best practice for attaching stop loss to indicator

[Beachwalker]

Hi,

What would be the best practice for attaching a stop loss order to an indicator like a moving average line or Parabolic Sar in an automated trade strategy? ...And, could it be done in the strategy wizard?

[NinjaTrader_CodyB]

Hello,
You would not be able to set a stop loss value to an indicator using the strategy wizard.

To accomplish this you will set the value of the stop loss to the value of the indicator in OnBarUpate.

For example:

protected override void OnBarUpdate()
{
SetStopLoss(CalulationMode.Price, SMA(20)[0]);
}

This would set the Stop Loss value to the value of the 20 SMA each time OnBarUpdate is called.

If we can be of any other assistance please let us know.