Adjusting stop

[Xkaern]

Hello,

I'm trying to set up a trailing type stop where once a certain price is reached, the stop will trail one tick above the high/low of the previous bar. My initial entry, stop, and profit targets are all working correctly, but the stop adjustment didn't work at all... CaculateOnBarClose = false

My code for the trailing stop is:

if ((Position.MarketPosition == MarketPosition.Short) && (trail == 1) && (FirstTickOfBar))
{
SetStopLoss(CalculationMode.Price, High[1] + TickSize);
}

if ((Position.MarketPosition == MarketPosition.Short) && (trail == 0) && (Close[0] == trailtarget))
{
SetStopLoss(CalculationMode.Price, High[1] + TickSize);
trail = 1;
}



Execution completely ignored adjusting the stop, but the logic seems correct from what I see. Should I be using the ExitShortStop instead of SetStopLoss function? If that's the case, does it still leave the initial stop in place until the position is exited? Is there a way to just move the initial stop rather than having a 2nd one trailing along? Or maybe I'm misunderstanding something. trailtarget is assigned along with the initial order entry as Close[0] - value, and trail = 0 as well.

[NinjaTrader_Ray]

In concept what you wish to do is sound. You will just need to debug your code to see why its not working as you expect.

Here is a reference sample - http://www.ninjatrader-support.com/v...ead.php?t=3222

[Xkaern]

Yea, I saw that reference, also. Doesn't seem much different than what I'm doing, so maybe a variable assignment has gone awry somewhere. That code should be all I need once it's functioning properly then, correct? Meaning I don't need the ExitLong/ShortStop functions? What are those used for?

[NinjaTrader_Ray]

In concept, your approach should work...I did not review your code for correct logic, you will need to do that and debug.

- Set() methods submit orders as executions come in, Exit() methods place orders as they are called in your code

[Pete S]

When playing with stop levels I always find it very helpful to place a dot on the chart like this:

DrawDot("stop"+CurrentBar, 0, price, Color.Blue);

It lets you know exactly what is happening with the calculation. I also use different colors for different conditions, it's an easy way to visually debug.

[NinjaTrader_Ray]

Excellent tip! Will add this to our debug tip.

Thanks