1. Transfer SetStopLoss to SetTrailStop 2. Adding boolean statement after x price

[sentient254]

Question 1.

How do I repeat a Raise Stop Loss statement? I understand the SetTrailStop() will do the trick but:

1. I'm using a SetStopLoss() order for the entry (@ -6 ticks from entry)

2. You can't use a both a SetTrailStop() & SetStopLoss together &

3. I'm trying to raise the initial SetStopLoss() at 6 ticks, then raise it to: 1 tick, then 5 ticks, then change the code to repeat by 5 ticks instead of adding unnecessary lines of codes every 5 tick as example below
- Unless I change the code to a SetTrailStop?

// Resets the stop loss to the original value when all positions are closed
if (Position.MarketPosition == MarketPosition.Flat)
{
// Set stop loss to x point in case of entry reversals
SetStopLoss("LongEntry", CalculationMode.Ticks, 6, false);
}

else if (Position.MarketPosition == MarketPosition.Long)
{

// if price is over entry by 5 ticks (1.25 points), raise Stop Loss to 1 tick
if (Close[0] >= Position.AveragePrice + (5 * TickSize))

{
SetStopLoss("LongEntry", CalculationMode.Ticks, -1, false);
}

// if price is over entry by 9 ticks (2.25 points), raise Stop Loss to 1.25 points (5 ticks)
if (Close[0] >= Position.AveragePrice + (9 * TickSize))


// I imagine this is where you change it to a SetTrailStop? But then how do you repeat the code that's based on the 9 tick rule?
{
SetStopLoss("LongEntry", CalculationMode.Ticks, -5, false);
}
}

// First Statement - Going Long
if (CrossAbove(EMA1, SMA1, 1))
{
// Enter Long
EnterLong(Convert.ToInt32(DefaultQuantity), "LongEntry");
}

Question 2.

In addition to the code above, I want the available option to exit if price is >= from entry of 5 ticks (So price has the option of either exiting by the stop loss or a Crossunder)

I know this code doesn't compile correctly, but to further explain what I'm trying to accomplish

// Something that combines these statements together
if (Close[0] >= Position.AveragePrice, EnterLong("LongEntry");

if (Close[0] >= Position.AveragePrice + (5 * TickSize))
{

// If the Crossunder appears when price is over entry by 5+ ticks, allow it
if (CrossBelow(EMA1, SMA1, 1)) = true;
{
ExitLong(Convert.ToInt32(DefaultQuantity), "LongEntry");

}

}

Would this new line of code be before the code stated above? Or would it be within the 5 tick rule statement?

Thanks in advance.

[NinjaTrader_PaulH]

Hello sentient254,

Thanks for your post and welcome to the NinjaTrader forums!

You are correct, you cannot use a SetTrailStop and a SetStopLoss on the same order. You cannot switch from one to the other on the same order.

To answer question 1, as you increment the stoploss, also increment the trigger price. For example, create a double called Trigger_Price and set it to be the first level of Position.AveragePrice +5 *TickSize; When you hit the trigger price then adjust the stop and then set your new trigger price, for example, Trigger_Price += 5 *TickSize. Likewise, you can create a double for the stop price and likewise can increment it using the += operator.

For question 2, you would just combine the CrossAbove and the price check, something like this:

if (Close[0] >= Position.AveragePrice + (5 * TickSize) && CrossBelow(EMA1, SMA1, 1) )
{
ExitLong(Convert.ToInt32(DefaultQuantity), "LongEntry");
}

You will need to be careful that you do not issue ExitLong at the same time that the SetStopLoss fires as you could end up with an unintended short position. It would be a good practice to ensure that your triggers for the stoploss and for this exit are significantly different in price so they do not occur at the same time