SetTrailStop not trailing?

[peteM]

Hi,

I've got a strategy that sets a trailing stop upon execution. The trailing stop does not trail the price though. After reading the helpfile, I believe it's because I've used SetTrailStop outside of OnBarUpdate. I had done this intentionally thinking the TrailStop would automatically trail.

If I shift SetTrailStop inside of OnBarUpdate, does it place a new order / cancel previous order on every tick? If it does, does it know not to place the order if the tick is lower than the previous tick (for a long)?

Thanks

[NinjaTrader_ChelseaB]

Hello peteM,

Thanks for your note.

The SetTrailStop method can be used in the Initialize() portion of the script as well as the OnBarUpdate portion of your script.

When SetTrailStop is updated in OnBarUpdate the price of the initial stop market order is modified instead of being placed as a new order.

Yes, SetTrailStop will not trail if you are long and the price falls.

Below is a link to the help guide on SetTrailStop().
http://www.ninjatrader.com/support/h...ttrailstop.htm


Please let me know if I can be of further assistance.

[koganam]

Hi,

I've got a strategy that sets a trailing stop upon execution. The trailing stop does not trail the price though. After reading the helpfile, I believe it's because I've used SetTrailStop outside of OnBarUpdate. I had done this intentionally thinking the TrailStop would automatically trail.

If I shift SetTrailStop inside of OnBarUpdate, does it place a new order / cancel previous order on every tick? If it does, does it know not to place the order if the tick is lower than the previous tick (for a long)?

Thanks

Where are you putting SetTrailStop()? If in Initialize(), then it should automatically be applied unchanged to every new order.

If you do it in OBU, it will always be taken from the absolute current price as exists at the time that the order is reissued, with no reference to what may have happened in the past. If you want to reissue the order on favorable price movement, then you have to check for such before you reissue the order.

[peteM]

Where are you putting SetTrailStop()? If in Initialize(), then it should automatically be applied unchanged to every new order.

If you do it in OBU, it will always be taken from the absolute current price as exists at the time that the order is reissued, with no reference to what may have happened in the past. If you want to reissue the order on favorable price movement, then you have to check for such before you reissue the order.

I placed it under OnExecution(). I incorrectly though it would create problems if it was left under OBU. I still have to figure out how to amend the TrailStop like you mentioned a few days ago; probably work on that this weekend.

I've just created a manual trailing stop for time being.

[NinjaTrader_ChelseaB]

Hello peteM,

In case you haven't already, I recommend you take a look at SamplePriceModification reference sample, to which I have linked below.
http://ninjatrader.com/support/forum...ead.php?t=3222

This uses SetStopLoss but the use of SetTrailStop is very similar. Keep in mind that you can only use one or the other per entry signal. If you use both, only the SetStopLoss will be activated.


I hope this helps you in accomplishing your goal.

Please don't hesitate to contact us for any other NinjaTrader inquiries you may have.