Sample Trade Idea For Onbarupdate Trailing Stop

This is a simple strategy to show what I mean about using a percentage trailing stop to trigger some other exit condition. I use a flag because if my trailing stop is hit I need to work this exit even if the price is later on ABOVE the trailing stop.

This is a simple stochastic entry. Then there is a percentage trailing stop. When this is hit, I then wait for a stochastic exit signal. I have a safety trailing stop twice the size of the OnBarUpdate trailing stop, in case there is no move in my favor for this stochastic exit. The idea is if I don't get my stochastic exit after the OnBarUpdate trailing stop, I can bail on this trade.

This is a demonstration strategy and does not work all that well for trading. This concept can be used nicely within other current trading ideas. Every penny counts.

Created By sauer11155
NinjaTrader Version 7
File Size 11.3 KB
Create Date 07/14/2010
# of Downloads 846

Importing to NinjaTrader 7 is Easy!

To import your 3rd party app or add-on to NinjaTrader, simply follow these 3 steps:

  1. Download the app or add-on file to your desktop
  2. From the NinjaTrader Control Center window, select the menu File > Utilities > Import NinjaScript
  3. Select the downloaded file from your desktop

Questions?

Visit the NinjaScript File Sharing discussion in the NinjaTrader user forum to interact with fellow traders and the NinjaTrader support team.