Custom fib tool that place orders when hit certain fib level

[mrgreentrading]

Hi,

As the title says, I would like to know if it's possible to create a custom fib retracement tool that would trigger a strategy?

For example, I want to place an order when we hit 50% retracement, and then the target would be 0% level, with stop at 100% level.

Also, I want to calculate how many lots to place base on input of an amount i want to risk. So let's say on NQ, if the range of the retracement is 20 pts, and my risk is $200, it should place 1 lot order (10 pts risk * $20 == my risk if $200), if my risk is $400 it would do 2 lots, etc.

Thank you for your help.

[NinjaTrader_Jesse]

Hello mrgreentrading,

That would be possible in manual coding, the Fibonacci tools levels can be accessed in code.

https://ninjatrader.com/support/helpGuides/nt8/pricelevels.htm?zoom_highlightsub=pricelevel

[mrgreentrading]

Hi Jess,

Thank you for that post. It seems that the fib in that guide is drawn in code. Is it possible to access a fib retracement that is drawn on chart in my strategy instead?

My flow would be something like this: I use the fib retracement to draw a range on the chart. When price retraces to certain level then the trade trigger, with stop and target placed at certain levels.

Thank you.

[NinjaTrader_Jesse]

Hello mrgreentrading,

You can see the following sample which shows how to access manually drawn objects from the chart:

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