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Current Bar Range Indicator that Calculates Number of Contracts to Trade


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Current Bar Range Indicator that Calculates Number of Contracts to Trade

  #1 (permalink)
 rptrader 
MN
 
Experience: Intermediate
Platform: NinjaTrader
Posts: 111 since Mar 2010
Thanks Given: 466
Thanks Received: 81

Hi all,

I tried searching the forum for this type of indicator with no luck. But that could definitely be due to user error.

Does anyone know of an indicator in NT8 or TOS that calculates the current bar range, plus 1 tick on each side, and can automatically calculate how many contracts to trade if you want to risk a certain dollar amount? For example, lets say a signal bar is forming and the range of that bar is currently 9 ticks. The entry is a tick above and the stop is a tick below, for a total of 11 ticks of risk. I want to risk $1,000 on each trade. So for this one a $1k risk would be 7.27 contracts, so it'd tell me 7 contracts so I can instantly update my contract amount and enter the order as the bar closes. If the risk was 18 ticks, it'd calculate 4 contracts.

I'm just looking for something that shows it on the chart for ease of entry instead of calculating it in Excel. Does anyone know of an indicator like that?

Thank you for the help!

rptrader

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  #2 (permalink)
 Rainmakersg 
Singapore Singapore
 
Experience: Intermediate
Platform: NinjaTrader
Trading: ES
Posts: 31 since May 2020
Thanks Given: 62
Thanks Received: 41

For a free version, try:


MaxLossPerTrade can be set. See 6:40


It is open source, so you can customize it to your requirements. This is a strategy, not indicator.

I programmed my own that is highly customized to my needs but it is an indicator and not a strategy, so it is much more complicated. Advanced C# programming knowledge is needed.
I just draw a line as stop loss and the bars will auto enter when conditions are met. Contracts are auto-calculated from the entry to the stop loss.

Stop loss and take profit also shift according to my rules.

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  #3 (permalink)
 rptrader 
MN
 
Experience: Intermediate
Platform: NinjaTrader
Posts: 111 since Mar 2010
Thanks Given: 466
Thanks Received: 81


Thank you for this Rainmakersg. I'll take a look at it. I'm still more interested in just an indicator but I'll see if this will help in the meantime.

Thanks again

rptrader


Rainmakersg View Post
For a free version, try:


MaxLossPerTrade can be set. See 6:40


It is open source, so you can customize it to your requirements. This is a strategy, not indicator.

I programmed my own that is highly customized to my needs but it is an indicator and not a strategy, so it is much more complicated. Advanced C# programming knowledge is needed.
I just draw a line as stop loss and the bars will auto enter when conditions are met. Contracts are auto-calculated from the entry to the stop loss.

Stop loss and take profit also shift according to my rules.


Started this thread Reply With Quote
  #4 (permalink)
TradeSaber
Toronto, Canada
 
Posts: 7 since Nov 2022
Thanks Given: 1
Thanks Received: 46

Hey that's me in the video above!

I was working on updates for those buttons when I cam across this post.

I attached a file for my new NinjaTrader 8 indicator which I believe is what you're looking for.


Here is the video on how to use it: >> youtu.be/dJMPdXIZRTs <<

New to this site, not allowed to link yet. But just copy and paste.

Hope it helps!

Attached Files
Elite Membership required to download: AutoShareCalc.zip
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  #5 (permalink)
 rptrader 
MN
 
Experience: Intermediate
Platform: NinjaTrader
Posts: 111 since Mar 2010
Thanks Given: 466
Thanks Received: 81

Awesome! I'll take a look at it. Thank you!

rptrader


TradeSaber View Post
Hey that's me in the video above!

I was working on updates for those buttons when I cam across this post.

I attached a file for my new NinjaTrader 8 indicator which I believe is what you're looking for.


Here is the video on how to use it: >> youtu.be/dJMPdXIZRTs <<

New to this site, not allowed to link yet. But just copy and paste.

Hope it helps!


Started this thread Reply With Quote




Last Updated on December 6, 2022


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