Trend Following Script

[ForexBotLab]

Hello Support,

how to code following TradeStation EasyLanguage Script in NinjaTrader:
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// Entries and Exits
Buy next bar at highD(0) stop;
Sellshort next bar at lowD(0) stop;
End;

// Stop loss
setstopcontract;
setstoploss(MyStop);
setprofittarget(myprofittarget);
setdollartrailing(mytrailingstop);

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The problems I have in implementing the above script is the Stop Loss part.

When I use managed orders I can implement:

...
EnterLongStopMarket(...);
EnterShortStopMarket(...);
...

and this is working, but when I add:

SetStopLoss(...);
SetProfitTarget(...);

Can you help?

Regards
Oliver

[NinjaTrader_BrandonH]

Hello Oliver,

Thanks for your post.

Set methods (such as SetStopLoss()/SetProfitTarget()) or Exit methods (such as ExitLongLimit()/ExitLongStopLimit()) could be used to place stop/targets from your strategy.

Set methods prep NinjaTrader to submit protective order when an entry order is filled. These methods should be called in OnStateChange() when the State == State.Configure.

See the help guide documentation below for more information about these methods.

SetStopLoss(): https://ninjatrader.com/support/help...etstoploss.htm
SetProfitTarget(): https://ninjatrader.com/support/help...ofittarget.htm
SetTrailStop(): https://ninjatrader.com/support/help...ttrailstop.htm

Exit methods should be called in OnBarUpdate() if you decide to use them for your stop/target orders. You could consider checking if Position.MarketPosition is equal to MarketPosition.Long or MarketPosition.Short to detect if you are in a Long or Short position and then call your Exit methods within that condition.

Managed Approach Order Methods: https://ninjatrader.com/support/help...d_approach.htm

I have attached a simple example script demonstrating how to use Exit methods for stops/targets that you could view.

And, you could find an example of implementing Trailing Stop using Exit methods in the Strategy Builder here: https://ninjatrader.com/support/foru...der#post806596