Unmanaged Simultaneous Stop Orders Sample

[mr_trade]

Hi,
I have tried to do a simple daily breakout strategy where I place 2 stop orders above and below the previous daily candle. I noticed while using the managed stop orders that each time a new candle is begins in the console the orders are placed, however when testing on 1h candles I noticed that only 1 of the orders will be activated even if the first one will be stopped out the second will not be triggered and be cancelled. I have read on the forums that the unmanaged orders is the best approach to achieve this, but im unable to find a good example or tutorial of how to get these working, do you have a sample file somewhere for me to learn how to do this and ensure it works on backtest before putting live?

Thanks in advanced for your help.

[NinjaTrader_Kate]

Hello mr_trade,

Thank you for your post.

You're correct, this would require switching to the unmanaged order approach to get access to manually setting the OCO ID.

Here is a link to our help guide section on the Unmanaged approach:

https://ninjatrader.com/support/helpGuides/nt8/en-us/unmanaged_approach.htm

Here's a link to an example strategy you can look at and modify to your liking:

https://ninjatrader.com/support/forum/forum/ninjatrader-8/strategy-development/92922-2-entry-orders-help?p=770579#post770579

Please let us know if we may be of further assistance to you.

[mr_trade]

Hi Kate,

Thankyou for your reply I have had some success with the above samples, however how do I cancel the orders if the long or short stop orders are not filled within the bar? So lets say im using 1 hour bars, I place an order above and below and if they are not filled within the hour I want to cancel the orders, then at the start of next bar re-submit the orders?

Thanks in advanced for your help.

[NinjaTrader_Kate]

Hello mr_trade,

Thank you for your reply.

Instead of cancelling and resubmitting, you could simply modify the order on the next bar. I added the following to the UnmanagedOCOBracketExample script and set it to calculate OnBarUpdate:

protected override void OnBarUpdate()
{

// modify unfilled orders to new prices if not filled on previous bar

if (shortStopEntry != null && !Order.IsTerminalState(shortStopEntry.OrderState))
ChangeOrder(shortStopEntry, shortStopEntry.Quantity, 0, (Low[0] - 10 * TickSize));
if (longStopEntry != null && !Order.IsTerminalState(longStopEntry.OrderState))
ChangeOrder(longStopEntry, longStopEntry.Quantity, 0, (High[0] + 20 * TickSize));

}

Here's a link to our help guide on ChangeOrder():

https://ninjatrader.com/support/helpGuides/nt8/en-us/unmanaged_changeorder.htm

Please let us know if we may be of further assistance to you.

[mr_trade]

Thank you Kate, this makes a lot more sense than what I was proposing thankyou will give this a go now.