Strategy Builder - How can I enter long with a set profit and stop limit?

[MatthewLesko]

Newbie here. I'm experimenting with conditions which I think I understand. But how do I configure an action to go long with a specific profit target and stop target?
is there a way to create this action in the GUI or I really have to be a programmer?

[NinjaTrader_Kate]

Hello MatthewLesko,

Thank you for your post.

You can set stops and targets for your entries on the Stops and Targets screen of the Strategy Builder. These can be linked to specific entries using Signal Names. Entry orders will have a field called Signal Name, and stops and targets will have a field called From Entry Signal. If you put the same Signal name in for an entry order that you put in the From Entry Signal field for a stop or target, this will link that stop/target with that particular entry and these will only be triggered if that entry was used. You can use this to link specific entries with specific exits.

I'm attaching an example strategy that enters 2 positions and scales out one using an exit order and a trail stop to exit the other, using signal names to connect the entries with the exits.

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

[MatthewLesko]

Thanks I will try. Also is there a way to have a condition to not order if there has already been a trade in last X minutes?

[NinjaTrader_Kate]

Hello Matthew,

Thank you for your reply.

If you're running the strategy on 1 minute bars, you could use Bars Since Exit under the Misc folder of the Condition Builder. Bars Since Exit can be compared to a numeric value. It will return either the number of bars since the strategy last exited a position or a -1 if no position has yet been exited. You'd want to use a condition group for this, since you'd want to check if it's been more than X number of minute bars since an exit or if Bars Since Exit equals -1, meaning it hasn't exited a position yet, then an entry could be taken.







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

[MatthewLesko]

Ah ok thanks so would this work on 5 min bar charts as well?

[NinjaTrader_Kate]

Hello Matthew,

Thank you for your reply.

As long as the number of minutes you want to delay entry by is a multiple of 5 it would, because it depends on the time frame of the chart how many minutes each bar would represent.

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

[MatthewLesko]

Thanks so what if I do Bars since Exit greater equal 3 and chart is 15 mins?

[NinjaTrader_Kate]

Hello Matthew,

Thank you for your reply.

That would mean it would not attempt to enter again until 45 minutes, or 3 bars, have elapsed since the last time an order was exited.

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