Stop Loss Adjustment

[Falcon Trader]

Hi there!

In the strategy builder, how can I make the 'stop loss' adjust to a new level after hitting a certain amount of ticks/profits?

Thank you.

[NinjaTrader_BrandonH]

Hello Falcon Trader,

Thank you for your post.

You could use SetTrailStop() to create a trailing stop loss in the Strategy Builder's Stops and Targets screen. This would create a trailing stop that moves for each tick in your favor until the stop loss is filled.

Otherwise, you would have to use exit order methods and adding coding logic in the Strategy Builder to accomplish this goal. Please note that you would not be able to use the Exit methods and the Set methods in the stop and targets window as that creates a violation of the managed approach internal order handling rules, linked here: https://ninjatrader.com/support/help...d_approach.htm

My colleague Chelsea has created educational examples of Strategy Builder breakeven and trailing stop in the Strategy Builder here:
https://ninjatrader.com/support/foru...der#post806596

Please let us know if we may assist further.

[Falcon Trader]

Hello Brandon H,

Thank you for your prompt reply. I will go through the links and let you know how it goes.

Thank you again!

[Falcon Trader]

Hello Brandon,

I went through the links that Chelsea have posted, to be honest it was abit too technical for me to understand it and to try to do the same in my strategy building process. Also, you have mentioned a 'trailing stop', unfortunately that doen't do exactly what I want to do.

Please find below an example of what I am trying to achieve, perhaps you can help me more:

For example an entry on Oil (CL);
- Long @61.00.
- Profit target @62.30 ( +130 ticks).
- Stop loss @60.70 ( -30 ticks).

I would like a 'new' stop loss @61.10 or even breakeven to be 'placed' once price exceeds 61.30.

As you can see from my example above, the tailing stop would not work in this case.


Is there a way I can implement the above conditions in the strategy builder?

Thank you very much.

[NinjaTrader_BrandonH]

Hello Falcon Trader,

Thank you for your note.

To create a trailing stop or move your stop to breakeven using the Strategy Builder, you would need to do something similar to the TrailBuilderExample or BreakevenBuilderExample made by Chelsea in the forum link below.

https://ninjatrader.com/support/forum/forum/suggestions-and-feedback/suggestions-and-feedback-aa/103992-request-breakeven-functions-in-strategy-builder#post806596

You can also contact a professional NinjaScript Consultant who would be eager to create or modify this script at your request or assist you with your script. The NinjaTrader Ecosystem has affiliate contacts who provide educational as well as consulting services. Please reach out to VendorSupport[AT]ninjatrader.com if you would like our NinjaTrader Ecosystem team follow up with you with a list of affiliate consultants who would be happy to create this script or any others at your request.

Let us know if we may assist further.

[Falcon Trader]

Hello Brandon,

Thank you again for the info and support.