Automated Strategy?

[kinkeadfx]

I have built an automated strategy with the strategy wizard and would like to know how to add a breakeven once its so many ticks in profit it will move stoploss to breakeven plus 1 tick?

[NinjaTrader_ChelseaB]

Hello kinkeadfx,

To have a breakeven movement you will need to use exit orders instead of SetStopLoss() or SetTrailStop().

Then you will need to use custom logic to control when the order is moved.

Attached is an example I have created for other clients. This is just to give you an idea of how to make this kind of logic for the Strategy Wizard. (I also have custom code made in unlocked strategies if you would like this as well)

[kinkeadfx]

I would like to have your custom unlocked code as well.
Thank you!

[NinjaTrader_ChelseaB]

Hi kinkeadfx,

Attached is the unlocked code.

This demonstrates using OnBarUpdate and OnMarketData to move a stop loss (which can be done in an unlocked strategy).

You don't have to use OnBarUpdate or OnMarketData, this gives a general idea of how to manipulate the stop loss.

[kinkeadfx]

This might be a dumb question but can you use multiple strategies on the same chart?
Would they work together or coexist?
Such as a strategy for entry signals and another for exit signals?

[NinjaTrader_ChelseaB]

Hi kinkeadfx,

Yes, you can add multiple strategies and indicators to a chart.

The strategies and indicators will work independently, but if they are working on the same account and same instrument, they will both be submitting orders that will affect the account position while keeping their own independent strategy position.

I would not recommend running two strategies on the same instrument on the same account. They will not be able to see orders that are made from outside of that strategy instance.

Below is a link that describes the strategy position and the account position.
https://www.youtube.com/watch?v=US9c...A14C398CA140D7

[kinkeadfx]

So basically i could copy and paste the code from the breakevenwizardexample and add it to my already existing strategy within the wizard in order to add a breakeven to my strategy?

[NinjaTrader_ChelseaB]

Hi kinkeadfx,

I would look to understand how this is working and then try and use the same kind of logic on your script.

Here is the low down on how this works:

Condition set 1 checks that the position is flat
If true:

Variable0 is set to the trigger price

Variable1 is the to initial stop price

Variable2 is set to correct the trigger price one bar after entry

Variable3 is set to 0 to reset the trigger so that the breakeven only happens once


Condition set 2 checks that the position is long and Variable2 is 0.
If true:

Variable0 is corrected to the entry price plus the trigger amount


Condition set 3 checks that the position is long, that the close price has met the trigger price, and that Variable2 is set to 0 and ready to trigger.
Once these are true:

Variable1 is set to the Position.AvgPrice which is the entry point

Variable3 is set to 1 so the breakeven is not triggered again

DrawDiamond is called to mark the chart where the breakeven was triggered


Condition set 4 checks that we are in a long position
If true:

ExitLongStop is called to set the stop to the current value of Variable1 which is set in condition set 1 and then condition set 2

[arbuthnot]

Thanks very much, Chelsea, for explaining this so clearly.