Here’s how I use the Parabolic SAR indicator to avoid chasing these li’l micros.
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You can attach your stop to the ParSar in NinjaTrader without programming.
That’s awesome. I’ll have to look up how to do that. Thanks!
It’s simple in Ninja Trader:
To setup the parameters to Attach to Indicator:
1.Right mouse click on a submitted order
2.Hover your mouse cursor over the order details
3.Navigate to the Attach to Indicator menu
4.Left mouse click on the Attach to Indicator Properties menu item
This will open an Attach to Indicator Properties window which will allow you to define the following properties:
Indicator
Selects the indicator plot* which is used for the indicator tracking
Offset (ticks)
The number of ticks (+/-) the order will follow the indicator value
Modify toward last price only
Enables / Disables the ability to hold the order price and only modify should the indicator change to a price closer to the last traded price. This prevents orders from modifying to price that would be worse than the previous value.
https://ninjatrader.com/support/helpGuides/nt8/NT%20HelpGuide%20English.html?attachingorderstoindicators.htm
You’re awesome, Brian. Thank you!
You’re welcome Mindie, hope it helps! Sure makes it easier to trail, especially if you have to step away from your PC for a minute or two.
great stuff Brian. I have been trying to get used to NT8. Its kind of tough when you are used yo platform and then switch to another one.
Thanks Steve, I’ve been on NT for a number of years, but still learning new stuff about it all the time!
What are the green bands on your 10 minute chart?
Hi Jim, The green bands are Keltner channels.
Thanks Mindie. Is there anything like the ParSar in Tradestation?
Hey James, yep! The Parabolic SAR is available on most platforms.
TradeStation has it in Studies.