TP and SL decided from a variable not working

[gabcon1414]

Hello, I'm trying to automate a strategy that has a stop loss dependent on the ATR at the moment of the start of the trade multiplied by a factor of three.

I created a variable called ATRX3 and when the condition of the trade happen I set the variable to the ATR*3

I then add a take profit and stop loss in currency equal to the variable...

the variable is set as a DOUBLE with a default value of 1

problem is that when the trade start it immediately closes

can you help me figure it out?

[NinjaTrader_ChelseaB]

Hello gabcon1414,

Welcome to the NinjaTrader forums!

Below is a link to an example strategy that uses the ATR you may find helpful.

https://ninjatrader.com/support/forum/forum/ninjatrader-8/strategy-development/1155114-using-atr-period-atr-multiplier-for-entries#post1155153

Please enable TraceOrders and print the price that you are using for the stop price and limit price as well as the current bid price.

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

Are you seeing that the stop loss stop price is below the bid and the target limit price is above the bid?

[gabcon1414]

I'm sorry but I am using the strategy builder and I'm not totally sure on how to do what you asked me..

I was able to print the ATR variable and the variable does work as intended, it is assuming the values I am telling it to.

It is also working when I use it to determine my enter point. But as I am trying to use it to get the PL or TP it just doesn't use them and goes on until it automatically exit on session close. It should take losses and profits way more fast...

I created an example here of how I am doing it. IT'S GOING FROM THE ENTRY SIGNAL (LONG) AND TAKING A VALUE IN DOLLARS (THE CURRENCY) OF THE ATR*25.. IS IT WRONG? sorry my keyboard went caps all alone ahah

[NinjaTrader_ChelseaB]

Hello gabcon1414,

Unfortunately, you cannot use dynamic prices for SetStopLoss() and SetProfitTarget() in the Strategy Builder.

Instead you will need to use Exit orders in the actions section of the conditions and actions.

This forum thread discusses this.

https://ninjatrader.com/support/forum/forum/ninjatrader-8/strategy-development/1142188-profit-target-calculation-method?p=1142196#post1142196

Try modeling your script after the ATRTrailingStrategyBuilder example. Calculate the stop price using offsets, then supply this as the stop price to the 'Exit long position by a stop order'.

[gabcon1414]

I will try, thank you! Is the example you quoted in the link you provided? Also... Should I need more help can I still type here?

Also..using the exit long by a stop order, I can only use price points as a reference?
Thanks!

[NinjaTrader_ChelseaB]

Hello gabcon1414,

Yes, the example is in the link in post # 2.

We are happy to answer any further questions you may have.

You can use any number for stop price, (such as a calculated value or an indicator plot value) however that number must be a valid price for the stop price.

[gabcon1414]

Ok! I have one last question which may seem easier...

Could you tell me how to setup the enter long position in such a way that it enters the trade it the price at the entry goes UP twelve points?

[NinjaTrader_ChelseaB]

Hello gabcon1414,

It sounds like after a condition is true, you want to place a buy stop order with the stop price 12 ticks above the current market price. (Buy limit would be below the ask, buy stop would be above the ask).

For this order to stay alive, you would need to save the stop price to a variable, and then re-submit the order on each new bar with that saved stop price. The Offset would be set to Ticks to add 12 ticks to the Close price.

This example linked below demonstrates keeping an order alive by saving the stop price to a variable and then re-submitting the order on each new bar.

https://ninjatrader.com/support/forum/forum/suggestions-and-feedback/suggestions-and-feedback-aa/103992-request-breakeven-functions-in-strategy-builder?p=806596#post806596