Transition from SetStopLoss to SetTrailStop after certain conditions are met??

[orenytz]

Hi,

I would appreciate advice on how to accomplish the following in a strategy for backtesting....

1) EnterLongLimit @ entryPrice (lets say 100$)
2) SetStopLoss @ stopLossPrice (lets say -10% which is 90$)
3) define a trailStopPrice with trigger : trigger=20% (120$) and new stopLossPrice=15% (115$)
when the price hit (in real time - not in the end of the bar !!!) 120$ then the stopLossPrice will immediately update to 115$.

Thanks !

[NinjaTrader_ChrisL]

Hello,

Thank you for the post. You will only need to use SetTrailStop to manage the stop. SetStopLoss cannot be used in conjunction with SetTrailStop.

You would need to set up the trailing stop of 10% in Initialize:

 protected override void Initialize()
{

SetTrailStop(CalculationMode.Percent, 0.1);

}

Then update the trailing stop in OnBarUpdate() once your profit trigger is hit:

OnBarUpdate()
{

if(Position.GetProfitLoss(Close[0], PerformanceUnit.Percent)*10 >= .20)
{

SetTrailStop(CalculationMode.Percent, 0.15);

}

}

GetProfitLoss(Close[0], PerformanceUnit.Percent) will calculate the strategies unrealized PnL in the form of a percent. Pass the close for the market price to calculate off of.

https://ninjatrader.com/support/help...profitloss.htm -GetProfitLoss

https://ninjatrader.com/support/help...ttrailstop.htm - SetTrailStop

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

[orenytz]

intra bar check or close bar check...?

Thanks Chris.
just to make sure that the trailing stop operation occurs at intra bar and not in the end of the bar,
i attached a picture which illustrate my scenario.

requested behaviour is: the upper tail of the the second bar is hiting the trigger (120$), immidiatly the stop loss updated to 115$ and when it's going down it will exit on stop loss (115$).

faulty behaviour is: the bar hiting check will occur at the close of the bar (107$) and trailing stop will not occur..

so, what is the behaviour of the code ?

thanks again
Oren

[NinjaTrader_ChrisL]

Hello Oren,

Thank you for the reply.

You would need to set the Strategies CalculateOnBarClose to false in order to calculate on each tick. This will give your strategy more opportunities to check the condition while the bar is developing.

You can do this from code in the Initialize() method (CalculateOnBarClose = false)

Or you can set this through the Strategy configuration menu.

I look forward to hearing of your results.

[chrisca]

Hello,

This is along the same line, but how would I go about entering a position with multiple contracts (lets say 3) with a trailing stop. Then when the target to sell one contract is hit, the trail stop updates the amount of contracts form 3 to 2, and moves to a break even position. Then, once target 2 is hit and another contract is sold, the trail stop is again updated and moved to the previous target of the first contract sold?

Sorry for the confusion. Hopefully I made it as clear as possible.

Thanks,
Chris

[NinjaTrader_ChrisL]

Hello,

Thank you for the post.

Please review this reference sample on modifying stops and targets:

https://ninjatrader.com/support/forum/showthread.php?t=3222

If you are having trouble with something particular after reviewing this sample and the documentation I linked in my reply to orenytz, please let me know and I will advise further.