SetProfitTarget and Limit order

[alantse123]

Is SetProfitTarget using a limit order?

If I use the following code:

SetProfitTarget("", CalculationMode.Ticks, 5, true);

Is the 5 tick counted from "Close[0]" or the "Position.AveragePrice"?


I tried using an explicit limit order to replace SetProfitTarget:

if (BuySignal == true)
{
EnterLongLimit(Close[0], "T2");
ExitLongLimit(Close[0] + (5.0 * TickSize), "T2");
}

Please refer to the attachment.

The strategy was supposed to exit the long position after 5 tick. But it did not until it hit the stop loss.
May I have some enlightenment on this?

I think of that maybe the limit order with the same signal name has not been cancelled after the previous trade ended with a stop loss. May that be the case? How can I cancelled the exit limit order when the trade is hit by a stop loss?

Thank you!

[NinjaTrader_ChrisL]

Hi alantse123, thanks for your question.

SetProfitTarget uses the Position.AveragePrice property to calculate the stop.

We have a full example on setting up manual protective orders here:
https://ninjatrader.com/support/help...and_onexec.htm

That will demonstrate how to set up the protective orders in "OCO" or Once cancels other.

We also have an example here that demonstrates how to cancel an order:
https://ninjatrader.com/support/help...thod_to_ca.htm

Please let me know if I can assist any further.

[jrjong]

Hi alantse123, thanks for your question.

SetProfitTarget uses the Position.AveragePrice property to calculate the stop.

We have a full example on setting up manual protective orders here:
https://ninjatrader.com/support/help...and_onexec.htm

That will demonstrate how to set up the twc mail protective orders in "OCO" or Once cancels other.

We also have an example here that demonstrates how to cancel an order:
https://ninjatrader.com/support/help...thod_to_ca.htm

Please let me know if I can assist any further.

Thnks for the helpful links. I've been tangled in this scenario for about a week now. Finnally got the solutions. Hope this helps