Setting stop and profit targets at entry bar

[DavidParkins]

Hello,
I am wanting to use MIN of the last 5 bars as a stop loss upon entry into a position. However, as new bars form, MIN changes. Is there a way I can dictate the strategy to set the stop loss based on the MIN(5) of the entry bar? I want the Stop to stay static. Similar to the way an ATM strategy would work while being dynamic to the situation.

I am currently assigning a stopmode = 0 (user variable) upon entry and dictating that "if stopmode = 0, then set a stop market order at the MIN(5)(Low)"

Thanks,

Dave

[NinjaTrader_Jesse]

Hello DavidParkins,

Yes that is possible, you would use a double variable for that to store the MIN at the time of the entry to the variable. Later when submitting a stop you could use the variable price which represents the MIN of the last entry time.

I look forward to being of further assistance.

[DavidParkins]

Hello DavidParkins,

Yes that is possible, you would use a double variable for that to store the MIN at the time of the entry to the variable. Later when submitting a stop you could use the variable price which represents the MIN of the last entry time.

I look forward to being of further assistance.

I feel silly, but Im lost here. Im not sure how to save the time of my entry with the MIN.

Ill explain what I have so far.
Set1 = If 'Entry Conditions' are met, do the following >>> EnterLong, StopMode(User Variable (Int)) = 0

Set2 = If Position.Market Position = MarketPosition.Long and StopMode = 0, do the following >>> ExitLongStopMarket(DefaultQuantity, MIN(Low,5)[0],"","");

Set3 = Similar to step 2 but will be a take profit.

I Tried MIN(low,5)[1] and got the same result basically.

Thanks,
Dave

[NinjaTrader_Jesse]

Hello DavidParkins,

To set the min to a variable so it can be used later you would need to do that from set 1 with the entry.

In the Inputs and Variables screen make a double variable named myMin.

In set 1's actions add a new action of -> Misc -> Set myMin

Hover the mouse over the value and click Set

Select Indicators -> Min and configure it as needed

When your entry is submitted the MIN will be saved from that point in time.

In set 2 where you have used MIN(Low... you would instead use myMin variable as the price.


I look forward to being of further assistance.