Account / Trade Drawdown Tool

[laoshr]

Hello,
First, thank you for any light anyone can shed on this subject.
I'm wanting to find or create an Account drawdown and trade drawdown tool. Where the user defines the trade drawdown value and the trade will be automatically closed if that value is reached. And also a daily drawdown limit where any and all trades will be closed if that value has been reached.

Is there a tool like this or can someone who is a noob like me be able to create it?
Thanks again for any help.
James

[NinjaTrader_BrandonH]

Hello James,

Thanks for your post.

We are currently researching this matter and we will follow up with more information for you as soon as we have finished investigating this matter.

Thanks for your patience; I look forward to assisting further.

[laoshr]

Thank you Brandon. I look forward to hearing back from you. This is a must have for most beginners.

[NinjaTrader_BrandonH]

Hello James,

Thanks for your patience.

I am not aware of an existing indicator that accomplishes this specifically. That said, you could search the Ecosystem User App Share linked below for a possible existing solution.

Ecosystem User App Share: https://ninjatraderecosystem.com/user-app-share/

The Account class does not have any accessible drawdown values that could be retrieved in an indicator. The available AccountItem values you could access in an indicator could be seen below.

AccountItem: https://ninjatrader.com/support/help...ccountitem.htm
Account: https://ninjatrader.com/support/help...ount_class.htm

If you are interested in creating a strategy, you could access the Drawdown value from the TradesPerformance collection. This is only able to be used in a custom strategy, not an indicator. You may compare a user-defined input you create to the Drawdown value in a strategy condition.

TradesPerformance.Currency.Drawdown: https://ninjatrader.com/support/help...8/drawdown.htm
TradesPerformanceValues: https://ninjatrader.com/support/help...ancevalues.htm

Below is a link to a forum post with helpful information about getting started with NinjaScript.
https://ninjatrader.com/support/foru...040#post786040

We also have Daily Loss Limit sample scripts that you could view to see how a daily loss limit could be generally set up. You may use this as an example and consider modifying the logic to calculate using the drawdown value instead of a daily loss limit.
https://ninjatrader.com/support/foru...limit-examples

To cancel orders, you could use the CancelOrder() method. The reference sample below demonstrates using CancelOrder().

https://ninjatrader.com/support/helpGuides/nt8/using_cancelorder_method_to_ca.htm

Or, you could use the Flatten() method to flatten the account on an instrument. See the help guide page below.
Flatten(): https://ninjatrader.com/support/help...

Please let me know if I may assist further.


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[NinjaTrader_Ray]

There is a new feature "Daily Loss Limit" which might be what you are looking for? You set these value in the Account Dashboard.