search

WaleeTheRobot / order-flow-bot

OrderFlowBot using NinjaTrader's volumetric data for semi-automated and fully automated trading. Includes several strategies and indicators. Additional strategies and indicators can be added.
MIT License
52 stars 14 forks source link

Suggestion: Using Managed Approach in Strategy Builder #12

Open ajaltrans opened 3 weeks ago

ajaltrans commented 3 weeks ago

Hi WaleeTheRobot,

Again appreciate all your work, amazing work so far. I am using this on 1 minute chart NQ/MNQ 30tick target and stoploss, and seems to work very good on Auto Mode (Sacked Imbalance and Volume Seq. ). I have some suggestions that may help in Auto Mode, if you would consider:

  1. Adding a time filter
  2. Daily profit target and stoploss
  3. Instead of using ATM strategy, in my opinion, it will be better to use the strategy managed approach, then the strategy has more options such: it can stop when target is met, news trading avoidance, time filter, order rejects ( exit via market orders), messaging and alerts etc.

I am attaching a link to a strategy in NinjaTrader App sharing. It is a replica of ATM strategies but it is build under strategy builder script. Maybe you can combine the Order Flow using this approach for the Auto Mode with script attached. That would be step a further for 100% automation.

https://ninjatraderecosystem.com/user-app-share-download/profittargettrailingstop_101b/

Again, thank you amazing work.

WaleeTheRobot commented 3 weeks ago

Hi WaleeTheRobot,

Again appreciate all your work, amazing work so far. I am using this on 1 minute chart NQ/MNQ 30tick target and stoploss, and seems to work very good on Auto Mode (Sacked Imbalance and Volume Seq. ). I have some suggestions that may help in Auto Mode, if you would consider:

  1. Adding a time filter
  2. Daily profit target and stoploss
  3. Instead of using ATM strategy, in my opinion, it will be better to use the strategy managed approach, then the strategy has more options such: it can stop when target is met, news trading avoidance, time filter, order rejects ( exit via market orders), messaging and alerts etc.

I am attaching a link to a strategy in NinjaTrader App sharing. It is a replica of ATM strategies but it is build under strategy builder script. Maybe you can combine the Order Flow using this approach for the Auto Mode with script attached. That would be step a further for 100% automation.

https://ninjatraderecosystem.com/user-app-share-download/profittargettrailingstop_101b/

Again, thank you amazing work.

I'm not familiar with strategy builder. Are you suggesting to use a strategy built with strategy builder rather then just the ATM strategy?

ajaltrans commented 3 weeks ago

Yes. I am suggesting to use the ninja trader script builder to combine with the one provided in the link.For example: you can use stop loss, take profit, time filter and many other options. ATM strategies are ok, but the issue will be that once an order if filled, it is spearated from the strategy and in case if oders are rejected or not handled for errors, the ATM strategies will not be able to close positions leading to big loss.

If you were to use the order flow bot for signals based on stacked imbalances, delta volume or other signals once an order it is filled, then the startegy can handle the position using the script i attached on my previous post.

Again, thank you for sharing the OrderFlow Bot.

WaleeTheRobot commented 3 weeks ago

Yes. I am suggesting to use the ninja trader script builder to combine with the one provided in the link.For example: you can use stop loss, take profit, time filter and many other options. ATM strategies are ok, but the issue will be that once an order if filled, it is spearated from the strategy and in case if oders are rejected or not handled for errors, the ATM strategies will not be able to close positions leading to big loss.

If you were to use the order flow bot for signals based on stacked imbalances, delta volume or other signals once an order it is filled, then the startegy can handle the position using the script i attached on my previous post.

Again, thank you for sharing the OrderFlow Bot.

If the order is filled with the ATM strategy then it should be handled with the ATM strategy. You can close the ATM strategy with the Close button in the OrderFlowBot control panel or the main Close button, which will close out all positions and stop the script. I'll have to take some time in the future to look at the strategy builder. I've never used it and I'm not familiar if it's exposed through NinjaTrader programatically or not.