APPLYING THE NINJABOTS STRATEGY


To apply the NinjaBots Strategy right click on your NinjaBots range bar chart and Strategies.

From the Strategies window double-click ...Sceeto - NinjaBots.

To load the pre-installed Strategy configuration for a 3 tick ES range bar chart, click the 'Template Link' in the lower right-hand corner of the window, then click ***'Load'***.

Then click on 'NinjaBots - ES 3 Tick Range Bar' then click Load.

There are 2 ways to enable your strategy:

  1. Click the 'Enabled' box in the Strategy's Properties menu:


 
  1. Within the Controls Centers Strategies tab click the 'Enabled' box:

TRADERS CAN CONFIGURE THE FOLLOWING NINJABOTS STRATEGY PROPERTIES

Stops & Targets

Using a NinjaTrader ATM [Advanced Trade Management]

ATM Settings - You can opt to use an ATM to automatically manage your trade upon fill.

To do this:

  1. Enter the name of your ATM strategy in the ATM Template Name field.

  2. Select ATM in the Exits field.

NinjaBots installs a pre-configured ATM template of 5 tick profit target with a 5 tick stop where the stop automatically is moved to breakeven when the position reaches a 4 tick profit.

You can use any ATM strategy that you'd like.  The installed ATM is for demonstration purposes and is not a recommendation.

Note - If you use an ATM to manage your NinjaBot trade, NinjaTrader will not plot the executions on your chart. You can however, open an ancillary chart, then open Chart Trader, and you will see your trades on this ancillary chart.



USING LOCAL SETTINGS

You can set your stop and target within the NinjaBot strategy using Local Settings:

To do so:

  1. Enter the profit in ticks in the Profit Target field

  2. Enter stop in ticks in the Stop field

  3. Set the field Exits to 'Local Settings'



NINJABOTS ENTRY SIGNALS

There are 3 types of entry signals.

  1. The closing direction of a Range Bar

  2. A Book Pressure reading that meets or exceeds a threshold value

  3. An Engulfing Sweep of the order book

Of these 3 entry signals, only Book Pressure needs to be configured by the trader.

The Book Pressure trigger value is set in the NinjaBot strategy's Book Pressure Threshold field:

Optional Pivot Requirement

NinjaBots can be configured to have the required order flow signals be accompanied on a range bar that is also a pivot bar.

Pivot Low - A range bar that has a Pivot Low is a range bar that closes at its high, and its low was lower than the low if the prior bar.

Pivot High - A range bar that has a Pivot High is a range bar that closes at its low, and its high was higher than the high if the prior bar.

Important Insight - NinjaBots provides the option to require a pivot for entry as on these bars we have confirmation that price reversal articulated in the pivot shows that price was immediately responding to the order flow events uncovered by our order flow algorithms.

This required pivot is also used to focus entries when trading Right Shoulders or ABC retracements in a trend.
NinjaBots_-_Pivot_and_2_SD_Parameter_Settings_and_Instructions.jpg

The trader has the option to require a pivot for either or both the Pressure NinjaBot or the Sweep NinjaBot.

A NinjaBot with a pivot is helpful for Right Shoulders & ABC Retracements.

A NinjaBot without a pivot is helpful for Breaches.

For Pressure NinjaBots, check the BP Requires Pivot box.

For Sweep NinjaBots, check the Sweep Requires Pivot box.  

Pivot Left Strength

Use this input to define the left strength of a pivot. 

These formulas use range bars. Unlike time based bars, range bars can only close at either their low or their high. 

When using range bars, if the low of a bar is lower than the prior bar and the bar closes at its high, then this bar forms a pivot low. 

If the high of a bar is higher than the prior bar and the bar closes at its low, then this bar forms a pivot high. 

How to determine a pivot’s 'left strength’. 

Pivot Low | Count out the bars to the left of a swing low until you reach a bar that contains a price that is lower than the low of the pivot bar.  The left strength of the pivot low is equal to the number of bars between these two bars. 

Pivot High | Count out the bars to the left of a pivot high until you reach a bar that contains a price that is higher than the high of the pivot bar.  The left strength of the pivot high is equal to the number of bars between these two bars. 

Note | If a Prior Bar Has the Same Low High, It Is Included in the Left Strength Count 

Intra-Day Pivots Strengths

Micro - Good for scalping | Left Strength > 0 & < 5

Minor  - Good for Right Shoulders | Left Strength >= 5 & < 8

Major - Good for Swing Traders | Left Strength >= 8 

2 Standard Deviation Tick Ratio Opton for Sweep NinjaBot

The trader can also elect for both the Sweep NinjaBot to also trigger on a bar that has a 2 Standard Deviation Tick Ratio (The large yellow dot) by checking the Allow Tape Meter 2StDev... box.

If this selection is made, the NinjaBot will interpret the 2 SD Tick Ratio as an 'Or' requirement.

Hence, if the signal bar has either an Engulfing Sweep or a 2 SD Tick Ratio, then it will place an entry order.
 

 NinjaBots_-_2_SD_Parameter_Settings_and_Instructions.jpg


 

NINJABOT ENTRY ORDERS

You can configure your NinjaBot to enter on either a Market or a Limit order.

Limit Orders

When opting to use a Limit order, you can specify the limit entry as it relates to the close of the signal bar.

To instruct your NinjaBot to place a Limit order you must select Limit in the Order Execution Type field and also select a price offset that instructs your bot what limit price it should use as it relates to the closing price of the signal bar.

The limit offset settings are as follows:

  • Equal to the close of the signal bar enter 0 in the Limit Order Entry Offset field.
  • One tick above the close of the signal bar for Long bots, and one tick below the close of the signal bar for short bots, enter -1 in the Limit Order Entry Offset field.

This will have you 'paying up' a tick for your trade, but will have a more likely opportunity for your bot to fill, especially in a fast market.

  • One tick below the close of the signal bar for Long bots, and one tick above the close of the signal bar for short bots, enter 1 in the Limit Order Entry Offset field.

This will save you a tick on your trade, but will cause instances where your bot will not get filled.



MARKET ORDERS

To instruct your bot to use Market orders for entry, select Market the Order Execution Type field:

OVERVIEW OF STANDARD NINJATRADER STRATEGY OPTIONS

The following items link directly to the articles in the NinjaTrader Help Guide.

Setting Real-Time Strategy Options
Strategy Position vs. Account Position
Syncing Account Positions
Running a NinjaScript Strategy from a Chart
Running a NinjaScript Strategy from the Strategies Tab
Working with Strategy Templates