Setting up my StopLoss Under the Low of Candle, Once it triggered my Strategy

[RobertoPaez]

Hi, My Name is Roberto. I have been trying to set up my StopLoss under the Low of the Candle[0], once the Strategy has been triggered. I have reviewed every single video and Forum there is, but I cannot find the right setup for this to happen. Please help!

This is What I Have so far...


.......
protected override void OnBarUpdate()
{
if (BarsInProgress != 0)
return;

if (CurrentBars[0] < 2)
return;

// Set 1
if ((Open[0] > Close[0])
&& (Open[1] > Close[1])
&& (Open[2] > Close[2])
&& (Open[3] > Close[3])
&& ((Close[0] - Low[0]) > (Open[0] - Close[0]))
&& (((Close[0] - Low[0]) / (Open[0] - Close[0])) >= ProporcionLowVela))
{
entryOrder = EnterLong(Contratos, "LongN" + CurrentBar);
Draw.ArrowUp(this, Convert.ToString(CurrentBars[0]), false, 0, (Low[0] - (2 * TickSize)) , Brushes.Lime);
}
{

}
}

protected override void OnStateChange()

{
CalculateOnBarClose = false;
}

protected override void OnOrderUpdate(Order order, double limitPrice, double stopPrice, int quantity, int filled, double averageFillPrice, OrderState orderState, DateTime time, ErrorCode error, string nativeError)
{
// Set 1
if (entryOrder == order && order.OrderState == OrderState.Filled)

{
SetStopLoss(entryOrder.Name, CalculationMode.Price, Low[0] - 2 * TickSize, false);
}

[MojoJojo]

Hi Roberto,

you can try this

protected override void OnBarUpdate()
{
    if (BarsInProgress != 0)
        return;

    if (CurrentBars[0] < 2)
        return;

    // Set 1
    if ((Open[0] > Close[0])
        && (Open[1] > Close[1])
        && (Open[2] > Close[2])
        && (Open[3] > Close[3])
        && ((Close[0] - Low[0]) > (Open[0] - Close[0]))
        && (((Close[0] - Low[0]) / (Open[0] - Close[0])) >= ProporcionLowVela))
    {
        SetStopLoss("LongN" + CurrentBar, CalculationMode.Price, Low[0] - 2 * TickSize, false);
        EnterLong(Contratos, "LongN" + CurrentBar);
        Draw.ArrowUp(this, Convert.ToString(CurrentBars[0]), false, 0, (Low[0] - (2 * TickSize)) , Brushes.Lime);
    }
}

[NinjaTrader_ChrisL]

Hello Roberto, thanks for your question.

I agree with MojoJojo with the example. The SetStopLoss method needs to be called in OnBarUpdate before the order is submitted to get a stop loss relative to the current market price. We also have this example that demonstrates a more advanced order handling technique for protective orders:

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

Please let me know if I can assist any further.

[RobertoPaez]

Thanks a lot, you cannot imagen how much I have been trying this. I really appreciate it!!!!!