|05-28-2007, 11:39 AM||#1|
Join Date: May 2007
Thanked 0 times in 0 posts
Need help automating trailing stop strategy
I have had success using the trailing stop system in the DOM, where you can set an initial stop loss value, and then set a trailing stop to "kick in" when a certain profit target is reached (allowing you to tighten and then trail your stop).
I can't seem to figure out how to duplicate this in NinjaScript. The SetTrailStop() command only allows me to set a trailing value, not a target at which this will kick in.
How can I create, for example, the following:
Initial stop loss: 8 ticks
After profit target of 5 ticks achieved, tighten and trail stop by 3 ticks
Any help would be appreciated. Thanks!
|05-28-2007, 01:50 PM||#2|
Join Date: Nov 2004
Location: Denver, CO, USA
Thanked 45 times in 32 posts
The SetTrailStop() method does not allow for this.
You would have to program your own logic to do this by monitoring the PnL and once you have hit 5 ticks in profit, modify the price of your stop loss order.
You would need to use the method ExitLongStop() or ExitShortStop().
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