Indicator that plots stop at the recent swing

[jjanguda]

Hi,
I'm looking for an indicator which plots stop loss X amount of ticks above or below previous Y amount of candles?

For example, I'm looking to sell on a very small time frame chart where candles are forming quickly
Let's say I want to place X ticks(usually 1-2 ticks) above the high of the last Y candles.(usually 3-5 candles)

I tried to use a ATM strategy but since the size of stop varies depending on where the last entry candle closes far from the high of the last Y bars.

If I set it small, it hits my stop and moves in my favor. If I set it bigger, I take more loss than I'm supposed to...

I'm wondering if there is any indicators that could automatically plots my stop loss depending on my X and Y setting.

I would appreciate any input.


Thanks

[NinjaTrader_ChrisSch]

Hello jjanguda,

Thank you for your note.

I am not aware of an indicator that could accomplish this, though I suspect it can be done through custom programming.

You may find success in finding an item that can accomplish something similar via our NinjaTrader Ecosystem page.

I've included a link to this page below.

Let us know if further questions come up.

[jjanguda]

Thanks for your help. Greatly appreciated