Changing profit target with entry price

[Ousher]

I have a strategy that has a profit target of 4 ticks from the entry price.

I want the profit target to automatically change to 4 ticks from the average entry price if I add another position to it.

For example

1st entry: 4000
Initial profit target: 4001

2nd entry: 3900
New average price: 3950

Profit target should change to 3051.

Thanks!

[NinjaTrader_ChrisL]

Hi, thanks for posting.

To detect exactly when an execution happens use OnExecutionUpdate and change your profit target to the price: Position.AveragePrice + TickSize*4
Order entryOrder; //assigned in OnOrderUpdate

OnExecutionUpdate:

if (entryOrder != null && entryOrder == execution.Order)
{

if (execution.Order.OrderState == OrderState.Filled)
targetOrder = ExitLongLimit(0, true, execution.Position.Quantity, Position.AveragePrice +TickSize*4, "", "");

}

We have a more robust example of using OnOrderUpdate/OnExecutionUpdate here:

https://ninjatrader.com/support/helpGuides/nt8/NT%20HelpGuide%20English.html?using_onorderupdate_and_onexec.htm

Kind regards,
-ChrisL