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Do SetParabolicStop and SetTrailStop support different CalculationModes?

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    Do SetParabolicStop and SetTrailStop support different CalculationModes?

    Hello,

    Do SetParabolicStop and SetTrailStop support different CalculationModes, even though they are both types of trailing stops?

    The SetTrailStop documentation ( https://ninjatrader.com/support/help...ttrailstop.htm ) states a warning that "CalculationMode.Price and CalculationMode.Currency are irrelevant for trail stops." and says that the possible values are CalculationMode.Percent, CalculationMode.Ticks, and CalculationMode.Pips.

    In contrast, the SetParabolicStop documentation ( https://ninjatrader.com/support/help...abolicstop.htm ) does not have this warning, and lists all 5 possible values of CalculationMode, including CalculationMode.Price and CalculationMode.Currency.

    In this way, SetParabolicStop's list of legal CalculationMode values is the same as those for SetProfitTarget and SetStopLoss, but different from those of SetTrailStop even though SetParabolicStop is a type of trailing stop, and so is more like SetTrailStop than SetProfitTarget and SetStopLoss.

    The reasons I am asking this question is because I am trying to figure out if the SetParabolicStop documentation is wrong, and should be updated to more closely match the documentation of SetTrailStop, or if SetParabolicStop really should support all 5 CalculationMode values whereas SetTrailStop supports only 3 CalculationMode values, even though SetParabolicStop and SetTrailStop are the same kind of thing.

    Thanks in advance,

    EquityTrader

    #2
    Hello EquityTrader ,

    Do SetParabolicStop and SetTrailStop support different CalculationModes, even though they are both types of trailing stops?
    Yes, these are two different kinds of stops with different abilities.

    I did a quick test to make sure all 5 modes were supported and from what I can see they are. You can do this kind of test on your end as well by creating a simple strategy that just submits an entry in realtime and uses the SetParabolicStop.


    I look forward to being of further assistance.

    JesseNinjaTrader Customer Service

    Comment


      #3
      Hi NinjaTrader_Jesse,

      Thanks a lot for looking into this. So in summary, you are saying that SetParabolicStop's documentation and behavior in NinjaScript are both consistent with each other.

      I asked the question because I couldn't, and still can't, figure out why the supported CalculationModes for the two kinds of built-in trailing stops are different. I am sure that there is a good reason, and I don't necessarily need to know what it is, so I will just accept the fact that they are different, and stop trying to make sense of it.

      Thanks again for helping. I really appreciate it.

      EquityTrader

      Comment


        #4
        Hello EquityTrader,

        Thank you for the reply.

        Yes, the documentation seems consistent with the usage, if you are seeing otherwise in your tests please let me know.

        Regarding why the methods use different modes, I couldn't really say as that is all internal code. This was a development design decision and if I had to guess this likely has to do with how NT7's SetTrailStop was originally designed.

        I look forward to being of further assistance.



        JesseNinjaTrader Customer Service

        Comment

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