attaching stop to an indicator

[babouin77]

how can we in a strategy attach a stop to an indicator and update it on every bar close? it is working for when a trade is triggered but it sits there and never moves on the next bar update.

[NinjaTrader_Kate]

Hello babouin77,

Thank you for your post.

Is this a strategy you're coding manually in the NinjaScript Editor or in the Strategy Builder?

If in the Strategy Builder, you will need to use Exit orders in the Conditions and Actions screen so the price the order is placed at may be updated to trail the indicator in question. I've created a simple example of this approach that enters long and submits a stop that will trail along with the EMA as long as the EMA is below the current price. If the price goes up to a specific number of ticks above the entry, we submit a market order to exit as a profit target.


I've also created a simple example of manually coding this so you can use Set methods like SetTrailStop - your code would need to be unlocked to use Set Methods in this way.

Basically you have to call the method to submit the stop again, which will update the original order to the new price.

Please let us know if we may be of further assistance to you.

[babouin77]

Thank you. I will test it out and let you know if I have any questions.