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Indicator that plots stop at the recent swing

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    Indicator that plots stop at the recent swing

    Hi,
    I'm looking for an indicator which plots stop loss X amount of ticks above or below previous Y amount of candles?

    For example, I'm looking to sell on a very small time frame chart where candles are forming quickly
    Let's say I want to place X ticks(usually 1-2 ticks) above the high of the last Y candles.(usually 3-5 candles)

    I tried to use a ATM strategy but since the size of stop varies depending on where the last entry candle closes far from the high of the last Y bars.

    If I set it small, it hits my stop and moves in my favor. If I set it bigger, I take more loss than I'm supposed to...

    I'm wondering if there is any indicators that could automatically plots my stop loss depending on my X and Y setting.

    I would appreciate any input.


    Thanks




    #2
    Hello jjanguda,

    Thank you for your note.

    I am not aware of an indicator that could accomplish this, though I suspect it can be done through custom programming.

    You may find success in finding an item that can accomplish something similar via our NinjaTrader Ecosystem page.

    I've included a link to this page below.

    Let us know if further questions come up.
    Search trading apps & services to cusomize your NinjaTrader platform with trading indicators, signals and strategies.
    Chris Sch.NinjaTrader Customer Service

    Comment


      #3
      Thanks for your help. Greatly appreciated

      Comment

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