Setting orders to indicators

[Irukandji]

Hi


So, I like the feature NT8 has of being able to set orders to indicators, like a sell stop to a moving average for example for trailing it up for example.


However, I see no way of setting the order just below the indicator?



Because say it was a support level - one would normally set a stop a bit below the support to allow for spikes/normal price fluctuations.


Surely the same applies to moving averages. You don't want to be so tight that as soon as the MA is touched, you're stopped out. You want to be a bit away from it, like 5% or whatever, or 20 cents.



Is this achievable?


Thanks!

[NinjaTrader_ChelseaB]

Hello Irukandji,

Yes, you can use the Offset in ticks to adjust the order above or below the value of the indicator plot.

Below is a public link to the help guide.

https://ninjatrader.com/support/helpGuides/nt8/en-us/index.html?attachingorderstoindicators.htm#AttachingAnOrderToAnIndicator

[James108]

I must say this is my opinion is one of the best new features of NT, I use it a lot

[Irukandji]

Hello Irukandji,

Yes, you can use the Offset in ticks to adjust the order above or below the value of the indicator plot.

Below is a public link to the help guide.
https://ninjatrader.com/support/help...rToAnIndicator

Thanks, useful. But what exactly constitutes a "tick"? A tick is just one movement right, so it doesn't necessarily have to be a penny. It could be more?



Also, say I had 500 shares and attached the sell stop to an indicator. If I then wanted to add more shares, say another 500, and adjusted my stop to 1000 from 500, can I do all this while the order is still attached to the indicator?


Thanks.

[NinjaTrader_ChelseaB]

Hello Irukandji,

The word 'tick' has two meanings.

It refers to the smallest price fluctuation as listed on the exchange website for the particular instrument.

A tick on the ES future is .25. A tick on AAPL is .01.

An order must be placed at a specific tick size to be accepted by the exchange.

(edit, I left out your second inquiry)
While you can continue placing orders in the same direction, you would also want to attach the stop loss for each new position taken to the same indicator as well.