Fibonacci Retracement Tool ATM Strategy /Trade Management - How To?

[swjake]

Most of my trades are taken off (entering) and targeting different Fibonacci levels (using Fibonacci Retracement Tool), i.e. enter off the 50% retracement level and target the 138.2% extension level.

My method now feels rather crude and time consuming. I want to make order entry and trade management smooth and easy.

1. Choose my entry level (with conditions), target level(s), and Trailing Stop level(s) all from the same interface/window
2. Do it on a trade-by-trade basis (targets and trailing stop levels are different each trade)

Do I have someone program the tool? Is a NT Strategy capable of doing this? Am I crazy?

Current steps:

1. See price action & set/draw Fibonacci Retracement Tool high(100%) & low(0%)
2. Right Click on Fib tool and select "Alert"
3. Create alert for, say 50% level, add 3 conditions, 2 specific to that level--a Cross Above/Below and Less/Greater, and one indicator-based (Order Flow Cumulative Delta) Less/Greater condition
4. Set Alert Action as Submit an Order, choosing quantity, direction, order type and ATM Strategy
5. Go to DOM Window and edit ATM strategy named "This Trade" to edit the stop, targets and trailing stops
6. Then Save as Template and Save as "This Trade".
7. Cancel out stops & Go to Positions tab in Control Center
8. Right Click Position and and Apply ATM Template "This Trade" to Position

Then targets and stops appear on charts, but the trailing stops are buggy and don't always work properly. Same for order entry when when using Chart Alert to configure conditions for order entry.

Any insight, advice or pointing the way would be terribly appreciated. Little 5 and 10 minute trades take almost that long to enter and set targets.

Thanks Community!

SWJ

[NinjaTrader_BrandonH]

Hello swjake,

Thanks for your post.

The Draw.FibonacciRetracements() method could be used to draw a Fibonacci Retracement on the chart window. You could loop through the PriceLevels of the Fibonacci Retracement drawn to find the price of the 50% level. Then, submit your entry order to that price value. You could also find the price of other levels on the Fibonacci Retracements drawing to submit a profit target and stop loss order to.

Draw.FibonacciRetracements(): https://ninjatrader.com/support/help...tracements.htm
PriceLevels: https://ninjatrader.com/support/help...ricelevels.htm

On this forum thread post, you could find an example script demonstrating drawing Fibonacci Retracements on the chart and entering an ATM order at the 50% price level of the Fibonacci Retracements drawing.

https://forum.ninjatrader.com/forum/...22#post1115722

If you need someone to write this script for you on your behalf, you can contact a professional NinjaScript Consultant who would be eager to create or modify this script at your request or assist you with your script.

You can search our extensive library of NinjaScript consultants through the link below. Simply enter a consultant name or search by using our filter categories. Once you have identified your consultants of choice, please visit each consultant's site for more information or contact them directly to learn more!

https://ninjatraderecosystem.com/sea...mming-services

Educators - https://ninjatraderecosystem.com/sea...ures=education

You can locate the contact information for the consultants on their direct websites for any additional questions you may have. Since these consultants are third-party services for NinjaTrader, all pricing and support information will need to be obtained through the consultant.

This NinjaTrader Ecosystem website is for educational and informational purposes only and should not be considered a solicitation to buy or sell a futures contract or make any other type of investment decision. The companies and services listed on this website are not to be considered a recommendation and it is the reader's responsibility to evaluate any product, service, or company. NinjaTrader Ecosystem LLC is not responsible for the accuracy or content of any product, service or company linked to on this website.

[swjake]

Thank you Brandon for sending those along. I haven't done any C#/NinjaScript coding but the script entering an ATM order would be a start, as I use conditions to enter trade ( if price crossed below level, then require a close greater than price level, etc. ).

The tricky part is that each instance is user generated and dynamic. I might enter short once there's over/under movement on the 50% level, target the 138.2% level, with stops trailed up once 76% hit, then again at 100% level; next trade might be entry long on 38.2, targeting 76, with stops trailed up behind 38.2 once 50 is hit, behind 50 level when 61.8 is hit, etc. And I might do this in quick scalping on M1 chart. I don't always use orthodox highs and lows so I don't think the strategy would draw the tool the same. It's tiresome finding the numerical difference between various fib levels and converting those into 3-step trailing stops.

What I really want is to right click on the tool for a Properties-type window where I can input conditions and ATM Strategy edits each time and maybe a drop-down of optional fib levels to choose from for targets and trailing stops, much like the dropdown window from the Alert Conditions window below. Bring these windows and functions together in one place. Is something like this possible?

[NinjaTrader_BrandonH]

Hello swjake,

Thanks for your notes.

User-defined input properties could be created in a custom NinjaScript to allow you to set some parameters up when enabling the NinjaScript. You would then need to come up with your own custom coding logic to submit and handle your order entries and exits based on the user-defined properties you defined.

" I haven't done any C#/NinjaScript coding"

You can contact a professional NinjaScript Consultant who would be eager to create this script at your request. Please see the information on post # 2 regarding finding NinjaScript Consultants who could create the script at your request.