How do you create such a stop & exit?

[comfy]

Hi,

For a long position that I've entered,

I need to know how to create a stop for : (1 x ATR) - low of entry bar

and

Target exit : (2 x ATR) + entry price or Market on Close (MOC), whichever comes first.

If stop is 2 x ATR or more under the entry price, the setup should be ignored until the next opportunity comes along.

Can anyone help me with this?

[NinjaTrader_Matthew]

Hello,

You can store these bar values in a double, and then use that double as the price level for your stop and your profit target:

			double stop1 = Low[0] - ATR(14)[0];
			double target1 = Position.AvgPrice + (ATR(14)[0] * 2);
						
			SetStopLoss(stop1);
			SetProfitTarget(target1);

Please let me know if you have additional questions.

[comfy]

Thanks for the swift reply, really appreciate it.

However, I noticed for this line :

double target1 = Position.AvgPrice + (ATR(14)[0] * 2);

It is based on average price and not on entry price? I am bad at programming so I'm rather just assuming based on the terms used. Also, how do I add in an additional condition where if Low[0] - ATR(14)[0] is lower than 2 x ATR(14)[0], then the trade should be ignored. Is there a way to do that?

By the way, this code written here, is this done via editing the code of a strategy directly or can it be built with the condition builder when creating a strategy?

Thank you very much for taking the time to help me, really appreciate it (:

[NinjaTrader_Joydeep]

Hello comfy,
It might not be possible to do it via the strategy wizard and you have to do it by further coding it via the NinjaScript Editor.