Automated Limit Order Problem

[jul0625]

Hello,

I have a intraday strategy that trades the oil futures between regular trading hours (9-2:30est). At first, I set my order entry to just enter on the open of the next bar after the trigger bar. However, although over time the strategy was profitable, I noticed that usually after I got in, the trade would at least go against me by more than 10 ticks. So in the ninja script, I edited enter at market, to enter 10 ticks below the close of the trigger bar for longs, and for shorts vice versa. However as I ran the strategy once more, I noticed that it would only trigger on the NEXT bar, no bars after that. So basically, if I got a trigger at $95.00 to buy, the next bar would have to at least touch $94.90 to trigger my entry. However, if the next bar did NOT fill me, the order would not fill on the other bars, even if no other signal to buy or sell was produced, and it went below $94.90. (See picture attached for more.)

Basically what I would like is for when I get a buy or sell order (10 cents above or below the trigger bar close, depending on if its a buy or sell), I would like the order to stay in place UNTIL A OPPOSITE signal is created.

For example, lets say we get a trigger at $95.00 on the close to BUY. My order to BUY would be at $94.90. I would like that order to remain active UNTIL I get a trigger to sell.

Thank you in advance for your help!

Julian

[NinjaTrader_RyanM1]

Hi Julian,

Order methods have a signature available that allows you to specify liveUntilCancelled = true. You will have to use this advanced signature, and also consider that you may have to manually cancel at a later point.

Here is method signature:
EnterLongLimit(int barsInProgressIndex, bool liveUntilCancelled, int quantity, double limitPrice, string signalName)

For help cancelling orders, this reference sample is available:

http://www.ninjatrader.com/support/forum/showthread.php?t=18890

[jul0625]

lol unfortunately I have no programming experience so I have no idea what you mean. Where can I specify True for liveUntilCancelled

[NinjaTrader_RyanM1]

This scenario requires custom programming to set the liveUntilCancelled. An example would be something like this:

EnterLongLimit(0, true, 1, Low[0] - TickSize * 10, "");

To get the control needed for cancelling a liveUntilCancelled order, you have to work with advanced NinjaScript order handling. This link can help with this:

http://www.ninjatrader.com/support/helpGuides/nt7/advanced_order_handling.htm

[jul0625]

ok but how would I go about makign my order a live until cancelled.

[NinjaTrader_RyanM1]

You specify true where it's expected, like in the last two examples. Unfortunately can't get around that this requires custom programming. If you have limited time or programming experience, a NinjaScript consultant can assist to develop a strategy to your specifications.

http://www.ninjatrader.com/partners#NinjaScript-Consultants