|02-07-2008, 05:35 PM||#1|
Join Date: Dec 2007
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Market entry and ema exit
I am trying to use the Wizzard and create a Market Price Entry and an EMA 5/6 exit.
The Idea is that the desired EMA crossover entry was not setup and it is now too late to enter using that strategy. This is to be an alternate entry related to Market price.
Is the following correct for a LONG MARKET entry? I do not think I can back test it.
Step one: "IF" EntryPrice>=GetCurrentAsk()
"DO" EnterLong(DefaultQuantity." ")
Step two: CrossBelow(EMA(5),EMA(6),1)
ExitShort(" ". " ")
If I enter at MARKET would this get me in going long and then out when the crossover occurs? I need a stop for this entry if it were to reverse immediately, but I honestly don't know how. If it gets me in I can monitor it until the profit is high enough to allow the crossover to exit normally
|02-07-2008, 07:56 PM||#2|
NinjaTrader Product Manager
Join Date: May 2007
Location: Denver, CO
Thanked 107 times in 70 posts
You would want to do an ExitLong() order not an ExitShort() order to exit your long position.
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