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Indicator strategy

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    Indicator strategy

    Hello, I have a strategy idea and would like to know:
    Is it possible to:
    1) Build 'indicator' strategy and enter/exit
    a) "on bar close" when price closes above/below indicator of choice
    b) "if touched"
    2) If yes, once the Profit target or Stop loss are met, resubmit LMT/MKT orders following same rules?

    Here is a picture of what I mean. This is an LRC & RSI band. Both free in your indicator forums. Both do work and allow orders to be manually attached.

    Now, if all this IS possible, how do I get around the error window that we see in the picture? The error window is telling me I can't have opposite buy/sell orders attached to the indicator? When I have the resting orders you see on the bottom, if I attempt to enter LMT or MKT sell orders, I receive the error.

    All I can gather is that when I attach the order to an indicator, the order is then classified as a strategy (?maybe?) and simply the rules say I can't go against it? I don't know...

    I look forward to your reply.
    Attached Files

    #2
    Well now it seems to let me put orders opposite of each other...

    Well, the original questions stand haha

    Comment


      #3
      Hello SBMT17,

      Thanks for your post.

      The error could be seen if you have an ATM strategy selected while attached to an entry order and attempt to place an order in the opposite direction.

      ATM strategies can have their entries and exits orders attached to indicators, however they do not have the same flexibility as fully automated NinjaScript strategies. A NinjaScript strategy can be set to calculate on bar closes and logic can be defined for your strategy for crossovers, if price touches, or any logic that you can think of.

      To get acquainted with fully automated NinjaScript strategies, I recommend checking out the Strategy Builder 301 tutorial. I've also included further reading on NinjaScript strategies as there are important behaviors to understand when using fully automated NinjaScript strategies.

      Strategy Builder 301 - https://www.youtube.com/watch?v=HCyt90GAs9k

      Running NinjaScript strategies - https://ninjatrader.com/support/help...strategies.htm

      Please let us know if you have any additional questions.
      JimNinjaTrader Customer Service

      Comment


        #4
        Thank you Jim, really appreciate the clarification and helpful materials!

        Comment

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