Create a Stop Loss at the High or Low of a bar subsequent to and Entry.

[cortlane]

Using Strategy Builder, I want to create a stop loss at either the high or low of a subsequent entry (or signal bar) depending on whether I'm in a Long position or Short position.

In the case of being in a Long position, I want to create a stop loss when the Low of a subsequent bar is reached, that is, if I enter a Long I want to exit that Long position when the price reaches the Low of that entry (i.e. signal bar) or any subsequent bar, until a Low is reached. I would like this stop loss signal to last longer than one bar at a time.

I am using (1) Continuim for a data feed, (2) 1 minute bars and (3) a PC w/Windows 10.

I have tried creating a Set to accomplish this but with no success.

The Set I created has a Condition establishing that I'm in a Long position (Position.MarketPosition = MarketPostion.Long) and with

an Action (ExitLongStopMarket(DefaultQuantity, (Low[0] + (-8*TickSize)), "@ExitLongPosition", @"Long");

Unfortunately, this part of the strategy is not working.

This is the end part of a strategy with the rest of the strategy executing correctly.

Any suggestions would be appreciated.

[NinjaTrader_ChelseaB]

Hello cortlane,

To do this in the Strategy Builder, you will need to save the calculated price to a variable, and use this as the stop price for 'Exit long/short positon with stop order'.

Below is a link to an example.

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

To require two conditions to evaluate as true in sequence, you can use a bool variable that is set to true when the first condition is true, is checked for true in the second condition, and then is set back to false.

Below is a link to an example.

https://ninjatrader.com/support/forum/forum/ninjatrader-8/strategy-development/1130921-entering-trade-when-conditions-don-t-happen-simultaneasly?p=1131172#post1131172

[slade3789]

Did you figure it out Cortlane? I am trying to do the same thing.

[Innovation88]

I believe this video can help you both.

It's detailed so you'll have to walk through it slowly and follow along but it's effective.

https://youtu.be/r_E68M30hgg?si=3HIpbC5NCv0J81TT