Stop Loss based on calculation

[561timw]

I want to set my stop loss based on a fixed calculation of 1 tick above the high of the day or 1 tick below the low. How do I do this? Can I use:[/font]

SetStopLoss("", CalculationMode.Ticks, CurrentDayOHL().CurrentHigh[1] + 5 , false);

[NinjaTrader_JoshP]

If you want to tell it an absolute price you should be using CalculationMode.Price and not .Ticks.

Also, you should not be doing a simple "+ 5". It should be "+ 5 * TickSize" to ensure accurate tick size values.

Finally, this line would only work in OnBarUpdate(). You cannot do this from Initialize().

[561timw]

My concern about on bar update is that if I lose connection my stop will not activate is this a true concern?

[NinjaTrader_JoshP]

No matter where in your code you put the command it will not help you if you lose connection before the order was placed. All you have to do is call the Set() method before you do the Enter() method and it will be placed. Depending on the brokerage technology you are connected with will determine whether or not that order is actually sitting at the exchange or still on your local PC. See this article for more information: http://www.ninjatrader-support2.com/...ead.php?t=5349

[561timw]

I use IB and based on the link you provided orders are sitting on their server. So is it correct that when my program triggers my entry my stop of 1 tick below the low or above the high will be calculated and simultaneously transmitted to IB even if using the on bar update?

You also said:

"All you have to do is call the Set() method before you do the Enter() method and it will be placed"

Can you explain with a sample. I am not following.

[NinjaTrader_JoshP]

That is correct. Just call Set() before you call Enter(). When the code evaluates an Enter() and gets you into a position, the Set() will be activated exactly the same as if it were in Initialize().

[561timw]

One last question:

How do I create a copy of a ninja script once outside of the wizard. I have created a copy in the wizard by just changing the name but cannot figure out how to do it outside the wizard.

Thanks for all your help

[NinjaTrader_JoshP]

You can go to Edit NinjaScript -> select your file and open it in the NinjaScript Editor. From there just right click and select Save As.