JOINT PURCHASES AUTOMATIC POSITION SIZE CALCULATOR DRAWING TOOL FOR NINJATRADER 8

AUTOMATIC POSITION SIZE CALCULATOR DRAWING TOOL FOR NINJATRADER 8

Draw a Stop Loss, Entry and Target levels on your NinjaTrader 8 charts, the position size get calculated automatically, then submit the order associated to these levels from a right click. The pending Entry order will be placed along with the associated Stop and Target(s) orders.

Works with all instrument types available on NT8: CFD, Cryptos, Futures, Forex and Stocks.



Calculate your position size automatically by drawing a Stop Loss, Entry and Target levels on the chart and submit the associated orders from a right click with this drawing tool for NinjaTrader 8.

It retrieves the balance and currency of the selected Chart Trader account, then computes the number of units to open based on the range between the stop loss and the entry levels drawn on the chart. If the instrument currency differs from the account currency, it automatically converts all amounts to the account currency based on the exchange rate and adjusts the number of units accordingly. Additionally, it incorporates the commission cost if a commission template is defined for the selected account.

The position size can be calculated from 6 different methods:

Percentage of account Cash Value
Percentage of account Buying Power
Percentage of account Cash Balance
Percentage of account Net Liquidation
Fixed dollar amount
Fixed quantity

If you want to scale out of a position, this drawing tool allows you to select from 1 profit target up to 5 profit targets. When multiple profit targets are selected, you can set the percentage of the position to close at each profit target.

When you’re ready to place the trade, simply right-click on the position sizing tool you’ve drawn and submit the associated orders. This action will automatically generate a pending order for your entry and will set up OCO (One-Cancels-Other) orders for the stop loss and each profit target. OCO means that if one of the target orders is filled, the stop order will be canceled. This process is similar to creating an ATM strategy consisting of a profit target and a stop loss, but using our tool eliminates all potential typing errors when setting up the ATM strategy.

The following options are also available:

• Option to place a market order for the entry to get instantly filled
• Option to automatically place the Entry order when you finish drawing the Position Sizing tool.
• Option to automatically set the target(s) based on user defined R value(e).
• Several breakeven settings to choose from.
• Several trailing stop settings to choose from.
• Option to round to board lot for stock instruments.
• Option to round to Forex lot for Forex instruments.
• Option to show/hide the reward to risk ratio.
• Option to show/hide the price value for each level.
• Option to show/hide the price range (or delta) between the Stop and Entry and between the Target and Entry. The range value can be displayed in price and/or in percentage and/or in ticks.
• Option to show/hide the dollar value of Stop and Target levels automatically calculated from the quantity.
• Option to extend the lines to the right.
• Option to extend the lines to the left.
• Option to always show the text or only when the Position Sizing drawing tool is selected.
• Option to show the position drawing tool only on the chart timeframe the tool was drawn on and lower or higher.
• The lines type and color can be customized.
• Option to have a second set of settings for different accounts.
• Option to restrict opening new trades around economic calendar news events.
• Option to limit the position size by specifying the Risk Template.
• Explore numerous other options by referring to the user guide located under the ‘GUIDE’ tab to review all available functionalities.