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Targets and stops based on ATR
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Targets and stops based on ATR
Looking for any info on how to create within my strategy targets and stops based on the current a ATR. Any help would be great. Example: current ATR is 1, Target 1, 1.5X ATR T2, 2.5X current ATR, Initial stop 2.5X current ATR. ThxTags: None
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Hi JTizz,
I learned a lot from example code in the link, doing something similar to what you describe. The example code sets initial stops and targets, and adjust the stop to break even once a certain profit is hit.
Maybe adjust some of the code as follows:
stopOrder = ExitLongStopMarket(0, true, execution.Order.Filled, (Instrument.MasterInstrument.RoundToTickSize(Close[0 ] - 2.5 * ATR[0])), "MyStop", "MyEntry");
targetOrder = ExitLongLimit(0, true, execution.Order.Filled, (Instrument.MasterInstrument.RoundToTickSize(Close[0] + 1.5 * ATR[0])), "MyTarget", "MyEntry");
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Hello JTizz, thanks for your question.
There is this ATRTrailing indicator:
https://ninjatraderecosystem.com/user-app-share-download/atrtrailing/
medge's suggestion is also agreeable. The order entry methods have a Price parameter that you would target with the ATR value.
Please let me know if I can assist any further.Chris L.NinjaTrader Customer Service
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Hello JTizz, thanks for your post.
If you want to set a stop loss on a value and leave it there, call SetStopLoss once with the desired ATR value, or call one of the Exit methods once with the desired ATR value.
Here is related documentation and an example:
https://ninjatrader.com/support/help...and_onexec.htm
https://ninjatrader.com/support/help...etstoploss.htm
Please let me know if I can assist any further.Chris L.NinjaTrader Customer Service
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How do you build this on Strategy Builder?
stopOrder = ExitLongStopMarket(0, true, execution.Order.Filled, (Instrument.MasterInstrument.RoundToTickSize(Close[0 ] - 2.5 * ATR[0])), "MyStop", "MyEntry");
targetOrder = ExitLongLimit(0, true, execution.Order.Filled, (Instrument.MasterInstrument.RoundToTickSize(Close[0] + 1.5 * ATR[0])), "MyTarget", "MyEntry");
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Hello JTizz, thanks for your reply.
I apologize, but I will not be able to spend time creating custom conditions or actions in the strategy builder. We have a related example here that uses Exit order to submit a stop loss, the same concept can be applied here.
Attached FilesChris L.NinjaTrader Customer Service
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