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Old 02-14-2012, 03:39 AM   #1
to_ankit
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Question Price Target (target 1/2/3) and StopLoss Indicator

Hi guys,

I'm from India and I have been using Ninja trader for past 1 year. I have few indicator incorporated on my charts which helps me to enter in a trade (buy or sell), however, one important thing missing is the TARGET PRICE AND STOP LOSS indicator.

I have seen few posts which indicates some calculation like
TARGET = ATR(14)*2 or similar . Will anybody help me out?

Looking for an answer! Thanks!
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Old 02-14-2012, 03:45 AM   #2
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Welcome to our forums here - have you looked already through our sharing section where users post custom developed scripts? There's an ATR trailing indicator for example that could be likely modified to suit your needs - http://www.ninjatrader.com/support/f...rch=ATR&desc=1
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Old 02-14-2012, 04:28 AM   #3
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Dear Bertrand,

Yes, I did some research in finding some pre-built indicator for Target and Stoploss, however, couldn't find any.

Would appreciate if you could help me out finding the one!
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Old 02-14-2012, 04:34 AM   #4
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Quote:
Originally Posted by to_ankit View Post
Dear Bertrand,

Yes, I did some research in finding some pre-built indicator for Target and Stoploss, however, couldn't find any.

Would appreciate if you could help me out finding the one!
The ATR Trailing stop one would be for example one you can check out.
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Old 02-14-2012, 04:48 AM   #5
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Pls post the link
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Old 02-14-2012, 04:50 AM   #6
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Please click on my link shared in post 2 - the ATR trailing indicator is then found under the 2nd entry in the list you would see.
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Old 02-14-2012, 06:04 AM   #7
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Thanks for the link!

But ATR trailing SL indicator shows only stoploss... Is there any indicator which can show the target price based on ATR(14) (lets say for last 20 candle).
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Old 02-14-2012, 06:12 AM   #8
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You're welcome - I would not be aware of an indicator specifically designed for ATR profit targets shared, you can though use the one provided as starting point for your own works. Another might be looking into Bollinger Bands or Keltner Channels - these studies can help giving your targets as well, Keltner Channels would be based on the ATR, so a multiple of that figure would be added to an Moving Average to arrive at an upper range estimate.
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Old 02-16-2012, 06:57 AM   #9
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For primary targets I use a modified Keltner Channel. Take a look at the 36 period Keltner Channel using a factor of 3 times the 36 period ATR.

I imagine someone could code that as a hard exit if that is what you like.
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Old 02-25-2012, 12:19 AM   #10
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Hello Wldman,

Can you pls share the Keltner channel indicator that you use for Profit Tgts?

Will be a gr8 help!

Thanks in advance.
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Old 02-25-2012, 11:13 AM   #11
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Sure.

The specific indie I use for that is available at another website. I am not sure If I am allowed by NT to post it here or if I'm allowed by the author to share it.

But, it is a straight forward Keltner Channel with the settings referenced earlier.

For some reason I can not log in to NT right now to grab some pics...but I will post those for you with an explanation of my typical use. DB
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Old 02-25-2012, 11:42 AM   #12
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here are the nt settings for the 2 instances of anakeltnerchannel that I use on this method to target exits.

http://screencast.com/t/7k8A5LLlk1R

You can see those on the chart as the blue-ish dashed line and the grey dotted line.

http://screencast.com/t/Gv2ka8Xfs

One way you could use this is demonstrated here.

http://screencast.com/t/HUeLxYVv

Where the green arrows designate long entry and the blue boxes show potential exits at the modified keltner. The 2nd and 3rd example show what could be a primary at the inner band and a secondary exit at the outer band.

Is that what you are asking?
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Old 02-26-2012, 10:49 AM   #13
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Hi Wldman,

Thanks for your prompt reply!

I'm really a non-technical guy. I just need an indicator which tells me the target 1 and target 2 whenever a buy or sell signal generated. I use "SuperTrend V2.4" for buy and sell signal and this indicator tells me the SL and trailing SL but not the targets.

If this is what you are referring to, then YES I'm looking for it.

Can you pls post the indicator so that I can test the results?

Thanks again !
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Old 02-27-2012, 01:38 PM   #14
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Hi,

I'm not sure whether I can post Amibroker indicator here or not.

But regarding my Profit target indicator, I have Amibroker (AFL code) indicator which is used for profit 1 & 2.

Can anyone help me here to convert AFL code to NinjaCode? If yes, pls let me know. I'm seeking a sincere help here.

Thanks & Regards
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