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Profit target hits but will trigger another long

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    Profit target hits but will trigger another long

    I use a simple set up, using 2 moving averages. trade long above the long 30 SMA and signals taken off the smaller 5 SMA

    Based on long trades lets say longer SMA is 30 and short term SMA is 5

    Price above 30 SMA then.>
    Price cross above 5 SMA to trigger long.
    Profit target hits,but on the next bar it will trigger a long again straight after I taken profit.

    What I would like is, when profit target hits, I want price to move back under the 5 SMA then back over the 5 SMA to trigger another long, at the same time price will be above the 30 SMA is there a way to do this on strategy wizards

    rgs

    #2
    Hello,

    Yes it sounds like this would be possible using the wizard

    It sounds like you already have the first condition set up. You could then set variables to track the state.

    We don't normally provide free coding services but as this is a basic request I'm going to have one of our NinjaScript trainees create this basic outline for you.

    I will have him follow up once it has been created.

    Let me know if there is anything else we can assist with.
    Lance B.NinjaTrader Customer Service

    Comment


      #3
      Thanks lance, , yes I have the first conditions set up

      Like you said, I will wait for one of the NinjaScript trainees to come back with something,

      Much appreciated
      momtic

      Comment


        #4
        Hello momtic,

        So that I may assist you further please clarify the following on your strategy.
        Do you only want to place long orders or do you want short orders also?
        Are you only wanting to place long orders when the 30 & 5 SMA are below the price, if price is below the 30 or 5 SMA to then exit the position?

        I look forward to assisting you further.
        BrandonNinjaTrader Customer Service

        Comment


          #5
          Hi Brandon

          I like to place long and short orders.

          For longs we need price to be above 30 SMA and 5 SMA

          Now if we enter a trade based on the criteria above and go long, at say 15291 Target would be hit at 15311, so we exit the trade,

          Now price is still above the 30 SMA, and the 5 SMA .After profit target is hit, Normally the system would trigger another long photo attached

          What I would like is for price to then pull back under the 5 SMA then close back over the 5 SMA to trigger another long, Note! while we waiting this to happen, price is already trading above the 30SMA. I have attached a photo to show you what I mean.

          Just reverse the criteria above for short set ups.

          Let me now if that makes sense

          rgs
          momtic
          Attached Files

          Comment


            #6
            Hello momtic,

            Thanks for your reply.

            I have created and tested your strategy and provided it as an attachment. This was fully created in the Wizard so you may view it within the Wizard to review the conditions.
            Attached Files
            BrandonNinjaTrader Customer Service

            Comment

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