Setting Profit Target Correctly

[KenSavoie]

Hi All,

New to coding completely. I have written something that plots the full gap for me in CME futures RTH from the close of the last 30 minute candle to the open. I'm working to replicate a very basic strategy that takes entry at open(in the direction of the gap) when the gap is under 25pts and targets half of the said gap. This is all for practice, but I cannot get the correct definitions for my profit target to be and ABS value of the gap size. It just ignores my profit target at the moment and only exits on close or at a stop loss. I have tried multiple different ways to write this code and I've done a bunch of self exploration to no avail. Can someone please help me understand where my code is wrong? I have included the code below which shows the two ways I have tried to calculate this gap as my profit target.

Thanks.

namespace NinjaTrader.NinjaScript.Strategies
{
public class TryNumber2 : Strategy
{
private bool StopTrading = false;
private bool doitonce = true;
protected override void OnStateChange()

{
if (State == State.SetDefaults)
{
Description = @"Enter the description for your new custom Strategy here.";
Name = "TryNumber2";
Calculate = Calculate.OnEachTick;
EntriesPerDirection = 1;
EntryHandling = EntryHandling.AllEntries;
IsExitOnSessionCloseStrategy = true;
ExitOnSessionCloseSeconds = 30;
IsFillLimitOnTouch = false;
MaximumBarsLookBack = MaximumBarsLookBack.TwoHundredFiftySix;
OrderFillResolution = OrderFillResolution.Standard;
Slippage = 0;
StartBehavior = StartBehavior.WaitUntilFlat;
TimeInForce = TimeInForce.Gtc;
TraceOrders = false;
RealtimeErrorHandling = RealtimeErrorHandling.StopCancelClose;
StopTargetHandling = StopTargetHandling.PerEntryExecution;
BarsRequiredToTrade = 20;
// Disable this property for performance gains in Strategy Analyzer optimizations
// See the Help Guide for additional information
IsInstantiatedOnEachOptimizationIteration = true;
}
else if (State == State.Configure)
{
}
}

protected override void OnBarUpdate()
{
if (BarsInProgress != 0)
return;


StopTrading = false;

// Make sure not in a position
if (Position.MarketPosition == MarketPosition.Flat && StopTrading == false)
{
// Check if gap up
if (PriorDayOHLC().PriorOpen[0] < Open[0])
{
EnterShort(2);

if (Position.MarketPosition == MarketPosition.Short && doitonce)
{
// Set Profit Target at half the gap size
SetProfitTarget(CalculationMode.Price, Math.Abs(PriorDayOHLC().PriorClose[0] - Open.GetValueAt(0) / 2));

// Set Trail stop at $250
SetStopLoss(CalculationMode.Ticks,40);

StopTrading = true;
}
}
// Check if gap down
if (PriorDayOHLC().PriorClose[0] > Open[0])
{
EnterLong(2);

// Set Profit Target at half the gap size
double gapSize = Open[0] - PriorDayOHLC().PriorClose[0];
double profitTarget = gapSize / 2;
SetProfitTarget(CalculationMode.Price, profitTarget);

// Set Trail stop at $250
SetStopLoss(CalculationMode.Ticks, 40);

StopTrading = true;
}
}

Draw.Line(this, "Gap"+CurrentBar, false, Bars.BarsSinceNewTradingDay, PriorDayOHLC().PriorClose[0] , 0, PriorDayOHLC().PriorClose[0], Brushes.Green, DashStyleHelper.Solid, 3);
}


}
}

[NinjaTrader_ChelseaB]

Hello KenSavoie,

Welcome to the NinjaTrader forums!

Use prints and TraceOrders to get a better understanding of what is being calculated.

https://ninjatrader.com/support/forum/forum/ninjatrader-7/strategy-development-aa/99209-date-conditions-not-working?p=791121#post791121

"It just ignores my profit target at the moment"

I see you are using Math.Abs(PriorDayOHLC().PriorClose[0] - Open.GetValueAt(0) / 2) as the price for the profit target.

Make a print that shows what this value is and why:

Print(string.Format("{0} | PriorDayOHLC().PriorClose[0]: {1} - (Open.GetValueAt(0): {2} / 2): {3} = {4}", Time[0], PriorDayOHLC().PriorClose[0], Open.GetValueAt(0), (Open.GetValueAt(0) / 2), (PriorDayOHLC().PriorClose[0] - Open.GetValueAt(0) / 2) ));


One note, set methods cannot be unset. This means you need to set these when the position is flat back to a number of ticks.

The ProfitChaseStopTrailSetMethodsExample_NT8 example linked below demonstrates on line 100.

https://ninjatrader.com/support/forum/forum/ninjatrader-8/platform-technical-support-aa/97419-priceos-cs-expecting?p=802269#post802269

[KenSavoie]

Hi Chelsea,

thank you for your advice. I input the Print function and ran it through the output. I noticed that the Open.Getvalueat(0) is always pulling the first bar of the session I'm running the backtest on. It prints the same value each time at 3881. The PriorDayOHLC returns the correct value I'm looking for. Is there an equation or argument that would return the value of the first bar of each session open?

[NinjaTrader_ChelseaB]

Hello KenSavoie,

<Series>.GetValueAt(int barIndex) uses an absolute bar index (not a barsAgo index).

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

A value of 0 would be the very first bar loaded in historical data on the far left of the chart. A value of CurrentBar would be the current bars value.

For the bar of the session that would be the CurrentBar number minus the Bars.BarsSinceNewTradingDay.

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

Open.GetValueAt(CurrentBar - Bars.BarsSinceNewTradingDay)

Or if you wanted to use the barsAgo index

Open[Bars.BarsSinceNewTradingDay]