Set SL above previous Bar High for Short in unamanged approach

[tkaboris]

Hi i want to add ability to add SL on previous bar high for short. I created stopAreaShort and put in in its place for shorts, its doesnt set SL one tick above.

stopAreaShort = High[1] + 1 * TickSize;

               #region OnOrderUpdate

        protected override void OnOrderUpdate(Order order, double limitPrice, double stopPrice, int quantity, int filled, double averageFillPrice, OrderState orderState, DateTime time, ErrorCode error, string nativeError)
          {
            if (orderState == OrderState.Filled && order.Name == "BT")
            {
                double ask = GetCurrentAsk();
                double bid = GetCurrentBid();


                string oco = Guid.NewGuid().ToString();

                if (order.IsLong)
                {
                    double tp = Instrument.MasterInstrument.RoundToTickSize(averageFillPrice + ProfitTarget * TickSize);

                    if (ProfitTarget > 0 && tp.ApproxCompare(ask) > 0)
                    {
                        targetOrder = SubmitOrderUnmanaged(0, OrderAction.Sell, OrderType.Limit, filled, tp, 0, oco, "PT");
                    }

                    double sl = Instrument.MasterInstrument.RoundToTickSize(averageFillPrice - StopLoss * TickSize);

                    if (StopLoss > 0 && sl.ApproxCompare(bid) < 0)
                    {
                        stopOrder = SubmitOrderUnmanaged(0, OrderAction.Sell, OrderType.StopMarket, filled, 0, sl, oco, "SL");
                    }
                }

                if (order.IsShort)
                {
                    double tp = Instrument.MasterInstrument.RoundToTickSize(averageFillPrice - ProfitTarget * TickSize);

                    if (ProfitTarget > 0 && tp.ApproxCompare(bid) < 0)
                    {
                        targetOrder = SubmitOrderUnmanaged(0, OrderAction.BuyToCover, OrderType.Limit, filled, tp, 0, oco, "PT");
                    }

                    double sl = Instrument.MasterInstrument.RoundToTickSize(averageFillPrice + StopLoss * TickSize);

//                    if (StopLoss > 0 && sl.ApproxCompare(ask) > 0)
//                    {
//                        stopOrder = SubmitOrderUnmanaged(0, OrderAction.BuyToCover, OrderType.StopMarket, filled, 0, sl, oco, "SL");
//                    }
                     if (StopLoss <= 0 )
                        {
                        stopOrder = SubmitOrderUnmanaged(0, OrderAction.BuyToCover, OrderType.StopMarket, filled, 0, stopAreaShort, oco, "SL");
                        }
                }
            }
          }

        #endregion​​

[tkaboris]

Actually its working as expected.. Thank you

[tkaboris]

Actually often times my Sl is not setting because price moves too fast and it says StopLoss cant be placed above market price, something like that. Is there a way to ensure SL will be placed above below recent high low?

[NinjaTrader_ChrisL]

Hi tkaboris, to handle a rejected order you can use the OnOrderUpdate method and re-submit the order if the order state Rejected is seen. If you are placing a stop order at the bid or ask there is always the risk that an in-flight price change can occur and the order will be rejected once it reaches the exchange.

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

[tkaboris]

I already use onOrderupdate, thats where i place my SL. Do you have an example of how to resumbit the order?

[NinjaTrader_ChrisL]

Hi, There is an example on the RealTimeErrorHandling page:

https://ninjatrader.com/support/help...meerrorhandlin g.htm

The section with "if (order.OrderState == OrderState.Rejected)" is the location you would re-submit the order to a legal price level.

Kind regards,
-ChrisL