Trailing Stop Not Fixed

[Frankriso]

Hi,

Please find the trailing stop code I've been testing below. The code works fine expect that the trailing stop doesn't stay fixed. I can see that as the price changes the code will adjust the trailing stoploss but I'm not sure how to fix the stoploss so that as a limit is hit the stop moves and stays fixed until the next target is hit.

I'm not a programmer, I know the issue just not sure how to fix it so the code behaves this way.

Any help would be appreciated.

// Resets stoploss to original value when all positions closed
if (Position.MarketPosition == MarketPosition.Flat)
{
SetStopLoss(CalculationMode.Ticks, 10);
}
// If a short position is open all for stoploss modification
else if (Position.MarketPosition == MarketPosition.Short)
{
//Prices hit 5 ticks setstop loss to breakeven
if (Low[0] <= Position.AveragePrice + -10 * TickSize)
{
SetStopLoss(CalculationMode.Price, Position.AveragePrice + -2 * TickSize);
}
//Prices hit 8 ticks setstop loss to 2 ticks
if (Low[0] <= Position.AveragePrice + -16 * TickSize)
{
SetStopLoss(CalculationMode.Price, Position.AveragePrice + -4 * TickSize);
}


Thanks.

[NinjaTrader_PaulH]

Hello Frankriso,

Thanks for your post.

What you would need to do is use a bool variable that can be set either true or false to help control.

For example, if you create a bool named DoItOnce and set it to true initially, in your first 5 tick condition you would check if the bool DoItOnce is true as well as the existing price check. In the action section you would then set the bool DoItOnce false. This would prevent the condition from being used again until the bool is once again set true.

You can reset the bool to true in the actions of the condition where you are checking for a flat position.

For example:

// Resets stoploss to original value when all positions closed
if (Position.MarketPosition == MarketPosition.Flat)
{
SetStopLoss(CalculationMode.Ticks, 10);
DoItOnce = true; // reset bool when flat
}
// If a short position is open all for stoploss modification
else if (Position.MarketPosition == MarketPosition.Short)
{
//Prices hit 5 ticks setstop loss to breakeven
if (Low[0] <= Position.AveragePrice + -10 * TickSize && DoItOnce)
{
SetStopLoss(CalculationMode.Price, Position.AveragePrice + -2 * TickSize);
DoItOnce = false; // prevent setting more than once
}
//Prices hit 8 ticks setstop loss to 2 ticks
if (Low[0] <= Position.AveragePrice + -16 * TickSize)
{
SetStopLoss(CalculationMode.Price, Position.AveragePrice + -4 * TickSize);
}

Note: you will want to create the bool above the OnStateChange() method, for example:

private bool DoItOnce = true; // create and initialize

[Frankriso]

Thanks Paul has saved me hours trying to figure that one out.