Custom stop loss and profit target on manual entries

[Ousher]

I want my stop loss and profit target to be customized every time I enter a trade.

So to be specific, my stoploss would be 1 tick above or below the entry bar
&
my profit target would be equal to the number of ticks as the stoploss.


Can a ATM strategy be customized that way or possible to create a strategy that can handle the manual entry?

Thanks!

[NinjaTrader_Emily]

Hello Ousher,

Thank you for your post.

Yes, an ATM strategy could be configured with a 1-tick Stop Loss and a 1 tick Profit Target. This is how that would look in the platform:

https://www.screencast.com/t/DKi6tFn9eGrb

For more information on ATM strategies, please see the following help guide section and YouTube webinar videos:

https://ninjatrader.com/support/helpGuides/nt8/advanced_trade_management_atm.htm

https://youtu.be/Gnyx8RSp3EI

https://youtu.be/DH9y-j64X1U

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

[Ousher]

Hello Ousher,

Thank you for your post.

Yes, an ATM strategy could be configured with a 1-tick Stop Loss and a 1 tick Profit Target. This is how that would look in the platform:

https://www.screencast.com/t/DKi6tFn9eGrb

For more information on ATM strategies, please see the following help guide section and YouTube webinar videos:

https://ninjatrader.com/support/helpGuides/nt8/advanced_trade_management_atm.htm

https://youtu.be/Gnyx8RSp3EI

https://youtu.be/DH9y-j64X1U

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

Hi Emily,

I think you may have misunderstood the question.

Lets say I enter a trade in the middle of bar, 5 ticks away from the low. I want my stop loss and profit target to automatically be at 6 ticks.
And if i entered 3 ticks away from the low, my stoploss/profit target would be at 4 ticks and so on

[NinjaTrader_Emily]

Hello Ousher,

Thank you for clarifying.

I apologize for the confusion; I thought you were referring to the "entry bar" as the PnL line that appears at the average entry price. ATM strategies are based on the average entry price, so they will not be able to behave in this manner. That being said, a custom NinjaScript strategy could certainly be used to place protective stop and target orders based on the High or Low of the bar where the entry is filled. I suggest reviewing the reference sample for Using OnOrderUpdate() and OnExecution() methods to submit protective orders found in our help guide here:

https://ninjatrader.com/support/helpGuides/nt8/using_onorderupdate_and_onexec.htm

The SampleOnOrderUpdate_NT8 strategy provided on that page uses ExitLongStopMarket() and ExitLongLimit() for the stop and target orders, and they are based on the same entry signal. The stop price and limit price for those order methods may be customized in the logic to be set to something like "Low[0] - TickSize" to set the stop or target 1 tick below the bar, then the other order could be set to "Position.AveragePrice + (Position.AveragePrice - Low[0] - TickSize)" to calculate the number of ticks between the entry price and the low minus one tick.

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