Auto-Breakeven Profit Target when Price Retraces Position ATM Strategy Builder HELP!!

[ikilledmarlon]

Good afternoon everyone,

I am looking to create a simple extension of an ATM strategy. My goal is to take the functionality of the stop-loss auto break even feature and make it applicable to a profit target.

For example, when price retraces say 20 ticks against your position the ATM strategy would automatically place the profit target at the order entry price so that the trade will close once reached on first touch which to be filled is a tick above/below price.

I have never used strategy builder so any assistance would be much appreciated to make this process as seamless and user friendly as possible. Thank you in advance to whomever helps out. Blessings.

[NinjaTrader_Jim]

Welcome to the forums ikilledmarlon!

To get more acquainted using the Strategy Builder, I suggest following our publicly available Strategy Builder 301 course and to also practice setting up logic based on our Conditions and Actions examples.

Strategy Builder 301 (publicly available resource) — https://www.youtube.com/watch?v=_KQF2Sv27oE

Conditions examples —https://ninjatrader.com/support/help...on_builder.htm

Actions examples — https://ninjatrader.com/support/help...us/actions.htm

Please note that if you would like to dynamically move target/stop based on market conditions, you will need to use Exit methods in the Conditions and Actions page of the Strategy Builder and you would not be able to make dynamic stops and targets with the Stops and Targets page. I have attached an example that shows how you can create Auto Breakeven behaviors in the Strategy Builder. You may use this as inspiration to move a profit target order, which could be submitted with ExitLongLimit.

Please also note that in the Strategy Builder, an order will stay alive until the order method is no longer called. In the example, I use variables to signal when I want the logic to submit the initial stop and when I want to move it to another level.

We look forward to assisting.