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ATM Extension to allow scaling in Backside

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    ATM Extension to allow scaling in Backside

    Hi there,

    I would like to enter and scale into my winning trades after the underlying has hit a predefined reversal level (backside). At the moment this can't be done without actively monitoring the chart until the level is hit and then enter stop orders. What would be nice would be a feature that allows to create a dependency between ATM strategies (ie. just one dropdown that has a list of other active ATMs). The setting would make the placement of an ATM entry order with the broker dependent on another ATM strategy having been executed.

    An example:
    Current price ES: 3800
    Gameplan: Go short at 3830 and add to my position at 3825 and 3820.

    Currently I don't think I can realise this with ATM strategies until the price has actually hit 3830. If the 2nd and 3rd order would depend on execution of the first, that would work.

    Just thinking, this could possibly be written as a strategy which monitors for ATM execution and then allows to spec 2 additional ATM entries...hmmm.

    Hope that helps.

    Kind regards
    Frank

    #2
    Hello Frank,

    Yes, unfortunately this is not supported. If you submit the 3 entry orders, it would execute the entry order at 3820 first, then 3825 and 3830 last. You would have to submit the stop entry orders manually at 3825 and 3820 after the entry order at 3830 fills. You could create an automated strategy to submit entry orders as per the conditions you program. I'm not a programmer myself, so I will not be much help in this regard. Please create a new thread in the support forum under 'Strategy Development' if you like assistance in this regard.

    After some discussion, we find that NinjaScript strategies would be the way to achieve your goal.
    Last edited by NinjaTrader_Jason; 02-21-2021, 04:25 AM.
    JasonNinjaTrader Customer Service

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      #3
      Hi Jason,

      Just a follow-up on this...
      I just realised that NT DOES support the above scenario when you submit the orders through an Alert and configure the Alert conditions accordingly.

      HTH someone.
      Frank

      Comment


        #4
        Hello Frank,

        Sorry I did not think of using an alert for this purpose. Good to hear you found a workaround.

        Thank you for sharing.
        JasonNinjaTrader Customer Service

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