Enter Trade -/+ 4 Ticks

[Fran888]

Hello: Is it possible to use the strategy builder to enter a trade at the trigger point plus or minus a numbers of ticks? In other words, "Enter long -4 ticks" or "Enter short +4 ticks"?
Thank you.

[NinjaTrader_Jesse]

Hello Fran888,

Yes that is possible, you could use a limit type order for that purpose. When submitting the order you can select enter long or short by limit order. The limit order asks for a price which you would need to hover the mouse over and click Set. In the window that comes up you can choose the base price to use and then use the offset field to select Ticks as the offset and then enter a number of ticks.

Keep in mind that limit orders expire after 1 bar when using the builder so the price being used would need to be able to be filled within the bar after it is submitted. You can keep an order active for more bars by calling the entry order again on the next bar. That would entail that your entry condition remains true until the order is filled.

[Fran888]

Thanks for the prompt reply. If it's an automated strategy using a market order, I won't know the exact price of the entry so how could I use the limit order?

[NinjaTrader_Jesse]

Hello Fran888,

A limit order would be used in place of a market order. A market order fills at the best available price from when it is received. For a limit order you would need to select a price as the initial placement that you are offsetting from, for example the close price or an indicators price. The price you use would depend on your trading goal.

[Fran888]

Ok I see. Thanks so much for the help.