Set stop loss for certain price

[srtrader]

I am using the Strategy Builder to create a strategy so I do not have any knowledge of coding. I am trying to determine if it is possible to set the stop loss 1 tick above or below my signal bar which is the previous bar. What is the easiest way to accomplish this within the Strategy Builder?

Thanks!

[NinjaTrader_Gaby]

Hello srtrader,

Thank you for your post.

In the Strategy Builder you cannot use dynamic values, such as bar prices, to place stops or targets using the Set methods on the stops and targets page. You would need to use Exit orders to exit the position.

Below are examples of using exit orders to exit a position in the Strategy Builder.

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

[srtrader]

I have figured out how to exit the trade 1 tick above or below my signal bar depending on if I'm going short or long. The problem is this can only be done when setting the strategy to calculate "on each tick." My strategy calls to enter the trade once the signal bar closes and at the close of that bar. When the strategy is calculating "on each tick" and I enter this way, it continues to take trades within that same bar multiple times. I can't figure out a way for it to only take one trade unless I change the way the strategy calculates to "on bar close." But then I'm back to the same issue of not being able to exit the trade as soon as price ticks above or below my signal bar because it's not calculating on each tick. Do you have any ideas on how I can design the strategy to enter and exit in the correct location without taking multiple trades?

Thanks!

[rockmanx00]

In general, I like to make my strategies OnPriceChange, just so I have the ability to do things anytime price moves. If you have it OnBarClose, well, you seem to understand the downsides of that.
If you want to enter on the Open of the next bar, what you can do is include "IsFirstTickOfBar". That'll let you run the code as OnEachTick or OnPriceChange, but only fire those conditions once, when a new bar is created.

IsFirstTickOfBar is found under Misc. Misc will also have True. So on the left side, under Misc, set that to IsFirstTickOfBar the middle should say 'equals' and the right side also under Misc will be true.

[srtrader]

This is brilliant! I've been struggling with a lot of my strategies but this will definitely help. I had no idea this was an option until now. Thanks so much!