builder set stop as percent of daily atr

[trader3000a]

Hi,
Is it possible, using the strategy builder, to set stop loss as percent of daily atr? I've tried a few things but could use advice.
thanks,
David

[NinjaTrader_Jim]

Hello David,

Thanks for your post.

The Strategy Builder can have Conditions and Actions built to control an exit order for the stop loss, and this can utilize Indicator values for the stop price.

For example, you can create an entry when flat, and then you are long, you can submit an exit stop market order for the stop loss at the price given. That stop price could be the Average Entry Price, minus a Daily ATR of period 1, times a User Input for the percentage of that ATR.

I have attached an example showing how the exit can be set up.

Please note that you will have to wait 1 bar after you enter in order for the stop to be placed at that level. Unlocking the code will allow you to submit the stop loss at indicator adjusted prices and also have the stop loss order submitted upon execution of the entry order.

Let us know if you have any questions.

[trader3000a]

thanks, Jim!