Start Reverse New Trade at StopLoss , using Strategy Builder

[bouncetherubble]

Hi

I am testing a Strategy built on Strategy Builder ( I am not a C coder unfortunately), based in Renko and Keltner Channel as per the attached image.

It seems starting new reversal trades when Stop Loss happens wold be profitable, at it is possible ot observer from the red square I overlapped to the image attached. There are several instances like this that remain untapped as a trade potential, all the time, even surpassing (at the naked eye) the profit generated by the strategy itself.

So I searched the Forum for similar posts and I found exactly what I was looking for from a Post back in 2010, however I cannot wrap my head around what is proposed by NinjaTrader_JoshP, emphasized in red font below, between quoted text.

I cannot understand how this method would trigger a trade in the opposite direction after a certain trade gone wrong in a certain direction ( that's when a Stop Loss would happen), or even how use the suggested path. I know where the patch is at the Strategy Builder, I just cannot understand the rational behind this method.

Would it be possible to extrapolate on this? With a step-by-step path how to start a reverse trade at Stop Loss using this method at the Strategy Builder?


https://ninjatrader.com/support/foru...loss-triggered

Rick,

Just use Position.AvgPrice + 5 * TickSize or whatever you want the offset to be and plug that into your order as your stop price.

In the Strategy Wizard you can grab the equivalent of Position.AvgPrice in the Strategy category. Then use the Offset parameter and punch in 5 or whatever amount you want.

This is the image that depicts my strategy and the red square is the potential profit of a reversal trade after a StopLoss (no connection with the Forum post from 2010 by NinjaTrade_JoshP)




Many Thanks indeed,
G

[NinjaTrader_Jesse]

Hello bouncetherubble,

The post you linked to is explaining how to use the position average price with an order however this does not specifically help to reverse the position and is only setting a price. To reverse based specifically on the fill of the stoploss would require manually coding.

In your described situation to reverse after a fill in the builder would require checking the position and also your criteria to make sure that is a valid location for a reversal prior to entering. To reverse a position you can call one of the opposite entry methods. For example if you were in a short position after the target filled you could check if the position is short and if so you could call EnterLong or one of the other long entry methods with a price of your choosing. Once the new Long entry order fills it will result in a Close position for the short and an Enter for the long.



I look forward to being of further assistance.

[bouncetherubble]

Hi Jesse,

I think this settles the topic until I am able to code in C ...

To reverse based specifically on the fill of the stoploss would require manually coding

Thanks much
G