Buy Price at Limit

[shishir_nse]

Hi ,
I want to develop a simple strategy to enter Market at a specific price when 1st two candles of day are green and supertrend is lower than close . I have written the following script


protected override void OnBarUpdate()
{
if (Bars.BarsSinceNewTradingDay >= 2)
{
bool cond1 = Close[Bars.BarsSinceNewTradingDay] > Open[Bars.BarsSinceNewTradingDay];
bool cond2 = Close[Bars.BarsSinceNewTradingDay - 1] > Open[Bars.BarsSinceNewTradingDay - 1 ];
bool cond3 = TSSuperTrend1.UpTrend[1] < Close[1];
bool cond4 = TSSuperTrend1.UpTrend[Bars.BarsSinceNewTradingDay] < Close[Bars.BarsSinceNewTradingDay];
var buffer = 0.50;
if(Close[0] > 700)
{
buffer = 1;
}
if(Close[0] > 2000)
{
buffer = 4;
}
if(cond1 && cond2 && cond3 && cond4)
{
var buyPrice = 0.00;
var stopLoss = 0.00;
if(High[Bars.BarsSinceNewTradingDay] > High[Bars.BarsSinceNewTradingDay - 1] )
{
buyPrice = High[Bars.BarsSinceNewTradingDay] + buffer;
stopLoss = Low[Bars.BarsSinceNewTradingDay];

}
else
{
buyPrice = High[Bars.BarsSinceNewTradingDay - 1 ] + buffer;
stopLoss = Low[Bars.BarsSinceNewTradingDay - 1] ;
}
EnterLongMIT(buyPrice,"ST");
SetStopLoss("ST",CalculationMode.Price,stopLoss,tr ue);

}

}

When I backtest it , the orders are filled below the buyPrice . I want to enter the market only if it's above buyPrice.

[NinjaTrader_PaulH]

Hello shishir_nse,

Thanks for your post.

The EnterLongMIT type order would need to be placed below the current market price. If you place the buy limit order above the current price the order will naturally fill at a lower price because a limit type order will fill at the limit or better price.

To place a limit order above the current price, you would use an EnterLongStopLimit() or EnterLongStopMarket()
Reference:

https://ninjatrader.com/support/helpGuides/nt8/?enterlongstoplimit.htm

https://ninjatrader.com/support/helpGuides/nt8/?enterlongstopmarket.htm

Please note: The SetStopLoss() method will retain the last price that was applied to it which means that on the next entry if the stop price has not been adjusted you could end up with an invalid or incorrectly price order. In your code all you need to do is to set the stop order value before placing the entry order.

[shishir_nse]

Thanks for the reply orders Entryorders are placed correctly now , but StopLoss is not working properly . This is message is displayed in output

A Buy order placed at '2019-08-09 10:45:00 AM' has been ignored since the stop price is less than or equal to the close price of the current bar. This is an invalid order and subsequent orders may also be ignored. Please fix your strategy.

Code

SetStopLoss("ST",CalculationMode.Price,stopLoss,tr ue);
EnterLongStopMarket(buyPrice);

[NinjaTrader_PaulH]

Hello shishir_nse,

Thanks for your reply.

Th error message likely refers to the EnterLongStopMarket() order. The entry order for for the EnterLongStopMarket must be placed above the current price.

I would suggest using print statements to debug your strategy by printing the values of buyPrice and stopLoss and Close[0] to get a better understanding of what is being used where/when. Please see our debugging tips here: https://ninjatrader.com/support/help...script_cod.htm