Adding 3rd option close trade

[prdecast]

Hello,

Wondering if this makes sense and possible to be configured:
- Once trade is activated, SL and TP is registered
- after the candle that opened the trade CLOSES without hitting SL or TP, the system will flatten all open position

Is this possible to be coded?

Thanks,

[NinjaTrader_Gaby]

Hello prdecast,

Thank you for your post.

Yes, this would be possible. You may want to consider using Calculate.OnPriceChange or Calculate.OnEachTick for orders to work/be submitted intrabar:

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

Also note that when using NinjaTrader's Enter() and Exit() methods, the default behavior is to automatically expire them at the end of a bar unless they are resubmitted to keep them alive. If you are still re-submitting the order on each bar and want to cancel the order when the bar closes if the SL or PT have not been hit, you can use IsFirstTickOfBar to detect if a new bar as formed:

https://ninjatrader.com/support/helpguides/nt8/isfirsttickofbar.htm

For the detection of an order you can look for the order name of your Stop loss or Profit target in OnOrderUpdate(). You can detect the status of the order from this method to see if it is still not filled.

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

You can use CancelOrder() to cancel an order.

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

Please let us know if you have any further questions.