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**NinjaTrader_RyanS** · 05-06-2024, 07:29 AM

Hello,

Implementing a step-by-step stop loss in NinjaTrader as you described is definitely possible. It seems you're attempting to adjust the stop loss dynamically based on the price reaching certain levels after the entry. Let’s review some key parts of your existing code and suggest corrections to ensure it functions as intended.

ExitLongMIT/ExitShortMIT Usage: You're using the ExitLongMIT and ExitShortMIT (market if touched) methods to adjust your stop loss. Instead, you should use the SetStopLoss method which is more suitable for adjusting stop losses dynamically as the price moves.
Commented Out SetStopLoss: The SetStopLoss methods are commented out. If you want to dynamically manage the stop loss, these should be actively managed within your logic.
Handling of Price Levels: You are correctly calculating the new stop loss levels but not effectively applying them.

Here is a corrected approach, focusing on a dynamic stop loss adjustment for long positions (you can mirror this logic for short positions):

Code:

protected override void OnBarUpdate()
{
    if (BarsInProgress != 0 || CurrentBars[0] < SlowMA) return;

    // Assuming entry logic is defined elsewhere

    // If a long position is open, allow for stop loss modification
    if (Position.MarketPosition == MarketPosition.Long)
    {
        double newStopLossLevel = Position.AveragePrice; // Default to entry price for safety

        // Adjust stop loss as price reaches new thresholds
        if (Close[0] > Position.AveragePrice + MoveTSToLong * TickSize)
            newStopLossLevel = Position.AveragePrice + MoveTSAfterLong * TickSize;
        if (Close[0] > Position.AveragePrice + MoveTSToLong2nd * TickSize)
            newStopLossLevel = Position.AveragePrice + MoveTSAfterLong2nd * TickSize;
        if (Close[0] > Position.AveragePrice + MoveTSToLong3rd * TickSize)
            newStopLossLevel = Position.AveragePrice + MoveTSAfterLong3rd * TickSize;

        // Apply the new stop loss level
        SetStopLoss("Long", CalculationMode.Price, newStopLossLevel, false);
    }
}

Please let us know if you have any further questions.

**truepenny** · 05-06-2024, 08:51 AM

Hello, Ryan. Thanks very much for your reply.
But I have more questions.

As already I mentioned, there are initial SL and TP.
Where and how do you set it up?
Is it correct to set it in if (State == State.Configure){}?
Or is it correct to set it when entering a position in OnBarUpdate(){}?

And I understand that when using SetStopLoss(), the initial SL and TP must be reset when the position is flat.
Do you think your code will work even if the initial loss and profit are set to 0 (my strategy ignores ST if when 0)?
(I mean when using the input of my code)

I have commented out all SetStopLoss() calls.
That's because I saw somewhere here that once you set the initial SL and TP, you can't manage it dynamically.
Please be more careful to make my code work.
Salute to your kind service!

**Please let me know if my question is not clear.

**NinjaTrader_RyanS** · 05-06-2024, 10:06 AM

When working with initial Stop Loss (SL) and Take Profit (TP) in NinjaTrader using NinjaScript, it's important to understand the lifecycle and when to set these values. Setting Initial SL and TP

In State.Configure: This state is ideal for setting initial parameters that apply to the entire strategy and don't need to change dynamically based on market data. If your SL and TP are fixed throughout the lifetime of any position, you can set them here. However, typically in dynamic trading strategies, these values might change as the market moves, so setting them up initially in State.Configure is not always flexible enough.
In OnBarUpdate(): This method is called on every tick or at the close of every bar (depending on the Calculate setting). Setting your SL and TP here gives you the flexibility to adjust these values dynamically based on new market conditions. This is the preferred location if your SL and TP need to adjust based on the strategy's entry points or if they are calculated dynamically.

Dynamic SL and TP Management

You mentioned that once SL and TP are set, they cannot be managed dynamically. This isn't entirely accurate. With NinjaTrader, you can modify SL and TP at any time during the life of a position using methods like SetStopLoss() and SetProfitTarget(). What is crucial is that any changes to these orders need to be handled correctly to ensure that they are updated and not just added on top of the existing orders. Resetting SL and TP

If you need to reset the SL and TP when positions are flat, you would typically handle this within OnBarUpdate() by checking Position.MarketPosition == MarketPosition.Flat. However, setting them to 0 might not be the most appropriate unless your strategy explicitly uses 0 as a flag to disable SL or TP. Instead, you might consider setting them to a sensible default or recalculating based on the new entry conditions. Example Code

Here’s how you might handle setting initial SL and TP dynamically upon entry and resetting them:

Code:

protected override void OnBarUpdate()
{
    // Entry logic, assume we're entering long
    if (ShouldEnterLong())
    {
        EnterLong("LongEntry"); // Enters a long position with a unique identifier

        // Set initial SL and TP dynamically
        SetStopLoss("LongEntry", CalculationMode.Ticks, InitialStopLossTicks, false);
        SetProfitTarget("LongEntry", CalculationMode.Ticks, InitialProfitTargetTicks);
    }

    // Reset SL and TP when no position is held
    if (Position.MarketPosition == MarketPosition.Flat)
    {
        // Here you might choose to reset them to a default or disable by setting to 0 or using another method
        // Example: Disabling SL and TP
        if (InitialStopLossTicks == 0 || InitialProfitTargetTicks == 0)
        {
            DisableStopLoss();
            DisableProfitTarget();
        }
    }

    // Dynamic adjustment of SL and TP can be handled similarly by calling SetStopLoss and SetProfitTarget with new values
}

private void DisableStopLoss()
{
    SetStopLoss("LongEntry", CalculationMode.Ticks, 0, false);
}

private void DisableProfitTarget()
{
    SetProfitTarget("LongEntry", CalculationMode.Ticks, 0);
}

private bool ShouldEnterLong()
{
    // Your logic to determine if a long entry should occur
    return CrossAbove(SMA(20), SMA(50), 1);
}

Initial SL and TP are set right after the entry order is placed.
If your strategy logic sets these values to 0 for disabling, additional methods (DisableStopLoss and DisableProfitTarget) handle these cases.
This approach allows for dynamic management of SL and TP based on changing market conditions or strategy phases.

Remember, this is just a template, and the exact implementation would depend heavily on the specifics of your trading strategy and logic

**truepenny** · 05-06-2024, 10:42 AM

Thanks for your kind reply.
Its becoming increasingly clear.
I have one more.

Code:

        if (State == State.Configure){}

...

        protected override void OnBarUpdate()
        {

            // Resets the stop loss to the original value when all positions are closed
            if (Position.MarketPosition == MarketPosition.Flat)
            {
//                if (TakeProfitLong > 0)
//                    SetProfitTarget("buy", CalculationMode.Ticks, TakeProfitLong);
//                if (StopLossLong > 0)
//                    SetStopLoss("buy", CalculationMode.Ticks, StopLossLong, false);
//                if (TakeProfitShort > 0)
//                    SetProfitTarget("sell", CalculationMode.Ticks, TakeProfitShort);
//                if (StopLossShort > 0)
//                    SetStopLoss("sell", CalculationMode.Ticks, StopLossShort, false);    
            }

            // If a long position is open, allow for stop loss modification to breakeven
            if (Position.MarketPosition == MarketPosition.Long)
            {                
               double newStopLossLevel = Position.AveragePrice; // Default to entry price for safety

              // Adjust stop loss as price reaches new thresholds
              if (Close[0] > Position.AveragePrice + MoveTSToLong * TickSize)
                     newStopLossLevel = Position.AveragePrice + MoveTSAfterLong * TickSize;
              if (Close[0] > Position.AveragePrice + MoveTSToLong2nd * TickSize)
                     newStopLossLevel = Position.AveragePrice + MoveTSAfterLong2nd * TickSize;
              if (Close[0] > Position.AveragePrice + MoveTSToLong3rd * TickSize)
                     newStopLossLevel = Position.AveragePrice + MoveTSAfterLong3rd * TickSize;

              // Apply the new stop loss level
                     SetStopLoss("Long", CalculationMode.Price, newStopLossLevel, false);
            }

            // create position            
            if (CrossAbove(FastMAPlot, SlowMAPlot, 1))
            {
                EnterLong(Convert.ToInt32(DefaultQuantity), "buy");
                if (TakeProfitLong > 0)
                    SetProfitTarget("buy", CalculationMode.Ticks, TakeProfitLong);
                if (StopLossLong > 0)
                    SetStopLoss("buy", CalculationMode.Ticks, StopLossLong, false);
            }
        }            
        
}

SetStopLoss() only works if StopLossLong is greater than 0 when you create the position as you can see.
If we assume it is 0, there is a problem with it keeping after SetStopLoss() is triggered in if (Position.MarketPosition == MarketPosition.Long) {}.
In that case, how should I initialize SetStopLoss() in if (Position.MarketPosition == MarketPosition.Flat){}?

**NinjaTrader_RyanS** · 05-06-2024, 01:39 PM

To initialize the SetStopLoss() method properly when all positions are closed (i.e., when the market position is flat), you can set up the initial stop loss settings directly within the block where you check for a flat position. Here's how you can modify the code:

Code:

protected override void OnBarUpdate()
{
    // Resets the stop loss to the original value when all positions are closed
    if (Position.MarketPosition == MarketPosition.Flat)
    {
        if (StopLossLong > 0)
            SetStopLoss("buy", CalculationMode.Ticks, StopLossLong, false);
        if (StopLossShort > 0)
            SetStopLoss("sell", CalculationMode.Ticks, StopLossShort, false);
    }

    // Existing code for other conditions
}

This code snippet ensures that the stop loss for both long and short positions is set immediately when the position is closed and the market position returns to flat. This is critical to ensure that the stop loss is correctly re-established when a new position is entered after all positions have been closed.

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