Adjustable stop loss

[mw355]

Hello, hope everyone there is doing good. I'm trying to set an automated strategy in NT8 using the strategy builder, I watched several of the videos and was able to figure out everything except what I want to do with the stop loss. Is this possible to do in the strategy builder -

Question 1) Set a stop loss at 10 ticks on the entry bar and then switch the stop loss to the super trend up trend line after the entry bar closes, and;

Question 2) Set a stop loss at 10 ticks on the entry bar, and then switch it to a 50 EMA line once the a bar's open and close is above the 50 EMA line, but then when a new super trend up trend line plots the stop would move to the super trend up trend line. So, basically, I want to enter a long position with the stop being the super trend up trend line but it hasn't formed yet, and I want to manage the stop until the up trend line plots.

Also, when setting the stop loss to the super trend line I did not see a way to designate if the stop should be when the price hits the up trend line or the down trend line.

I attached a jpeg which hopefully helps.

Thanks,
mw355

[NinjaTrader_PaulH]

Hello mw355,

Thanks for your post.

The Strategy Builder has a page where you can set stops and profit targets however these need to be fixed and are not changeable once the strategy starts.

What you are asking to do is to constantly change the stop on each trade which can be done however you cannot use the Set methods in the Stops and targets window.

In order to meet your objective, you will have to use, and understand, exit orders that are found in the Order management folder in the action section of a set. The type of exit orders you will be using are of the limit or stop limit or stop market type. Each of these orders requires that you provide a price (this is where you would assign the value of an indicator). A critically important concept to understand with these orders, in the Strategy Builder, is that they will be automatically canceled if not filled on the same bar they are submitted on. This means you will need to construct your logic in such as way as to maintain the orders until they are filled.

Here is a link to a forum thread where I have posted a working example of a strategy builder strategy that uses these type of orders: https://ninjatrader.com/support/foru...73#post1174873 Please download and study and test on sim101 to see the functionality of these orders and the logic that it takes to support them.

The logic you will need will be quite a bit more extensive and will require a number of bool variables to control which set provides which price to use for the stops.

I would suggest starting as simple as possible to get something working and then building your complexity a layer at a time.

[mw355]

Hi Paul,

Thanks for your response, I'll check out the link and try to incorporate what you said.

mw355