Automatic Position Size calculator drawing tool for NinjaTrader 8

(16 customer reviews)

$148.00

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.
Works with real accounts or Sim (demo) accounts with a real time data connection or with the NinjaTrader Playback Connection. Compatible with the Desktop version of NinjaTrader.

Category:

Description

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.

When our add-on called ‘Instantaneous NinjaTrader Alerts as push notification on iOS and Android mobile devices‘ is installed, a Pushover notification will automatically be sent when a pending order is executed. This ensures real-time notifications to your smartphone, even if you’re not actively using NinjaTrader.

Works with all instrument types available on NT8: CFD, Cryptos, Futures, Forex and Stocks.
Works with real accounts or Sim (demo) accounts with a real time data connection or with the NinjaTrader Playback Connection.

This tool is exclusively compatible with the desktop version of NinjaTrader; the NinjaTrader Mobile Trading App is not supported.

Release notes

version 15 – April 2, 2024

  • Add the option to automatically submit the entry order but only when the ALT key is down.
  • Now, with the option for automatic order submission, users can bypass the automatic submission by holding down the ALT key.
  • Add a Group 2 account specific settings. This now allows to have 3 different set of settings for at least 3 different accounts.
  • Add the option to draw a coloured rectangle for the risk area and for the reward area.
  • Add the option to use a single Stop Order. This proves especially beneficial for stock trading, given the commission cost structure. Employing a single Stop Order can effectively reduce commission expenses should the price trigger the stop.
  • Add the option for customizing font attributes (family, style, size) for all drawn text.
  • Add new visible text displaying the total sum of amounts in $ for both the current reward and all previous rewards.
  • Implement logic for auto breakeven to prevent moving the stop back to increase risk if the user previously manually adjusted the stop to reduce risk, bringing it closer to the target than the breakeven price value.
  • Bug fix: All partial fills are now managed correctly. In earlier versions, if an entry was partially filled and subsequently the target was filled, the associated stop and target orders were not generated when the price returned to complete filling the entry. This functionality has now been rectified, including improvements for handling other partial fills.
  • Incorporate Machine ID validation to promptly alert users via a notification window as soon as the Machine ID changes, ensuring timely notification rather than relying on NinjaTrader to notify when the license expires.
  • Bug fix: Resolve an issue affecting MBT and potentially other instruments that caused the tool to disappear when drawing it.

version 14 – July 30, 2023

  • Add option to automatically move the Stops to breakeven.
  • Add option to automatically trail the Stops.
  • Now the pre-defined risk values for the context menu are separated by the semicolumn character instead of the comma followed by a space. This makes it easier for countries that use the the comma , as decimal separator.
  • Add special logic when the selected instrument is a CFD using cTrader to properly calculated the position size to match the cTrader platform.
  • Add option to hold the Alt key down to not submit an entry order when the Auto Order submission option is active.
  • Bug fix. Now when moving a Stop anchor or the Entry anchor or when changing the properties, the position size is always re-calculated properly
  • Bug fix: Now the green dot for auto entry order submission is visible when the lines are extended left.

version 13 – April 17, 2023

  • Add option to offset the Account amount value.
  • Fix bugs with the Market Orders submission for the Entry
  • Fix bugs when the Entry Order get partially filled

version 12 – April 12, 2023

  • Add option to use MIT order for Entry and Targets.
  • Fix a problem that caused the Automatic Order to not be submitted when the option to not use a Target for the last reward is active.
  • Fix a problem that could cause the chart window to freeze when using the SHIFT key to snap Entry price to current price.
  • The settings on the Properties window have been reordered to group them to make it easier to follow. When you hover your mouse cursor over the settings a description of the setting is now visible.

version 11.1 – March 24, 2023

  • Add option to draw the Reward to Risk projection lines calculated by amount net values or simply by ticks.
  • Bug fix: Sometime when the Risk Template option was empty an error message was incorrectly generated in the log
  • Bug fix: Fix the location of the news events files to be in line with the latest version of the News Events indicator. Before this fix, for some users, it was possible that the tool did not refresh and re-calculate properly after changing the settings in the Properties windows.
  • Bug fix: When the user change the Reward scale out percentage between the applicable reward (targets) and the sum of all scale out percentage is less than 100%, then the tool will show a warning window as before but will also automatically replace the scale out percentage with the default values when you install the tool. This is to prevent the user to submit an order while the sum of all scale out percentage is less than 100% which would lead to a portion of the trade to not be managed by the associated Stop and Target orders

version 11.0 – March 19, 2023

  • You now have the option to use Market Order to enter when holding down the Shift key while the “Automatically place the Entry order” option is active.
  • Add an option to not use a target for the last reward
  • Add an option to calculate the auto target either from ticks ratio or from net amount of risk in $
  • Add an option to view the Reward to Risk ratio values over the projection lines
  • Add an option to send Pushover alert when the Entry Order get filled. Also add an option to send a Pushover alert when either the Stop or Target Order get filled.
  • Fix a rounding issue when the risk method is fixed size
  • Fix an issue with Partial fill orders so now the associated Stop and Target orders should always match the current quantity filled until completely filled.
  • Auto Targets improvement: When the Target Auto Ratio is active (higher than 0) and the option called “Allow manual override of auto target” is not active, when the mouse is moved over the target anchor, the mouse cursor change to the red circle to advise the trader that anchor can not be moved manually.
  • Remove the AutoLock option

version 10.0 – October 24, 2022

  • Add option to view the Net Reward to Risk ratio
  • Add option to show lines for user selected Reward to Risk ratios.
  • Add option to stagger the Stop Order in order to be able to manage each of them independently from the chart.
  • Add option to bypass the exchange rate calculation.
  • Add option to round the position size quantity from the first or the last reward (target).
  • Improvement to order entry: now all entry order will either be a Limit Order or a Stop Order (the Stop Order can be a Market Order or a Stop Limit Order.

version 9.1 – May 31, 2022

  • Fix to prevent to see additional selection points (the small donut representing the anchor points, where the user can select the point to move it).

version 9.0 – May 1, 2022

  • New feature: There is a new option in the properties to allow to snap the Entry anchor price to the current market price by holding the Shift key down.
  • New feature: There is a new option in the properties to allow to manually override a target anchor that was automatically set with a Reward auto ratio.
  • Fix: Add logic to prevent being able to resubmit the orders for old Position Size drawing tools for which an order was already submitted after restarting NinjaTrader or restoring a workspace.
  • It is now impossible to submit the order if the bracket order parameters are invalid, for example by having both the Risk and Reward anchors below the Entry anchor.

version 8.0 – March 3, 2022

  • Fix the Automatic Reward to Risk calculation for the targets. Now the commission cost is included into the ratio calculation.
  • Add option to automatically submit the entry order upon finishing drawing the tool. Please review this video to understand how the Automatic Entry order works.

version 7.0 – February 8, 2022

  • Add the option to use a Buy/Sell Stop Limit order instead of a Buy/Sell Stop Market order for the Entry.
  • Add the option to set a pre-defined Reward to Risk ratio for setting the target price. With this option enabled, it is not required to draw the target(s) line, instead the target will be automatically calculated from the user defined ratio.
  • Add the option to set a pre-defined offset in ticks for the Stop price and the Entry price.

version 6.0 – December 8, 2021

  • Now if the Stop anchor is moved while the entry order is working (pending getting filled) the Stop and Target quantity do not get updated with the new Stop anchor price.
  • Now the associated Stop and Target(s) orders to a pending entry order that get partially filled are handled properly.

version 5.0 – November 12, 2021

  • Fix the logic to get the account value from accounts which have different ‘Account Display Name’ and ‘Account Name’.
  • Add the round trip commission cost into the calculation of Risk and Target(s) amounts.
  • Improve the Reward to Risk ratio calculation. The R:R is now calculated from the net Risk amount to the net Target amount (including the round trip commission cost).
  • Improve the position size qty calculation to ensure the dollar amount of risk never exceed the allowed risk amount.
  • Now a popup message will alert the user if a Position Sizing drawing tool is drawn with the sum of all applicable ‘Reward Scale Out values’ that is less than 100.
  • It is now possible to calculate the Risk from % of Account:
    • Cash Value
    • Buying Power
    • Cash Balance
    • Net Liquidation
  • Add an option to allow changing the Risk calculation method from the right click menu on the drawing tool.
  • Add an option to allow changing the Risk Value from a range of user configurable predefined risk values from the right click menu on the drawing tool.
  • The maximum position size now uses the Risk template
  • Add option to automatically lock or not the drawing tool upon finishing drawing it
  • Improve the OCO order handling for Stop(s) and Target(s). Now the Stop(s) and Target(s) OCO orders will be placed even if the Position Size drawing tool is deleted or its properties modified while the submitted entry order is pending getting filled.
  • Improve how a rejected entry order is handled.

version 4.2 – August 28, 2021

  • Add option to set a maximum position size.

version 4.1 – August 25, 2021

  • Fix the Stop quantity calculation when using more than 1 target.
  • Change the name of the Entry to append the number of targets. ie for 3 targets the entry name will be Entry 3t.
  • Change the name of the Stop and Target to append the actual total target number. ie for 3 targets the first target will be Target 1 of 3, the second target will be Target 2 of 3 and so on. This makes it easier to follow which Stop and Target goes with which Entry.

version 4.0 – August 5, 2021

  • When our Pushover add-on for NT8 is installed, a Pushover notification will be sent when a pending order get executed.
  • Add an option to round to Forex lot size.
  • Fix a quantity calculation issue with JPY Forex pairs.
  • Fix an issue that sometime caused the quantity to be recalculated when restoring a workspace or restarting NinjaTrader. Now all the visible text is saved for all Position Size drawing tools drawn so after restarting NinjaTrader, the original text and values will be visible.
  • Add an option to automatically cancel pending orders that are within a restricted trading time based on the economic calendar news events and then resubmit the pending order once the news time restriction is over.
  • Add an option to save different parameters value for a specific account.
  • Add icons for the drawing tools menu.

version 3.0 – May 27, 2021

  • Add risk calculation by percentage of account balance.
  • Add currency conversion such that the risk amount will be calculated based on the account currency.
  • Add up to 5 targets for scaling out the position.

version 2.0 – October 4, 2020

  • Initial release.

Terms

By purchasing this Product you get a lifetime License for one computer. You also get one year of free updates. At the end of this year of free updates your product will keep working normally, however you will no longer have access to the updates for free. The purchased version and updates will be downloadable from your My account page on this website.

Whenever you wish, you can purchase an update license at 80% to 90% discount of the Product regular selling price to extend your license with another year of free updates.

100% Satisfaction Guarantee
If you’re not satisfied, we’re not satisfied. That’s our commitment and your risk-free 30 days 100% money back guarantee.

This Product is compatible with NinjaTrader® 8 only.

All prices are in US$.

Please feel free to contact us with any questions.

By purchasing this Product, you acknowledge that you have read and agree to all Terms.

“NinjaTrader® is a registered trademark of NinjaTrader Group, LLC. No NinjaTrader company has any affiliation with the owner, developer, or provider of the products or services described herein, or any interest, ownership or otherwise, in any such product or service, or endorses, recommends or approves any such product or service.”

Guide

Drawing the Position Size tool to automatically calculate the position size:

  • 1st step: Select the account you wish to use for a new position.
  • 2nd step: From your chart, click on the drawing tool icon to open the drawing tool menu and select the Position Sizing with the number of targets you need to scale out of your position.

Menu entries for the Automatic Position Sizing Drawing tool

You can also assign a hot key to the Position Sizing drawing tools by going to the NinjaTrader Control Center -> Tools -> Hot keys. This will allow you to start drawing on your chart from a keyboard shortcut which make it faster.

Important note about account selection:
The drawing tool will use the currently selected account from the Chart Trader window. Once the Position Sizing tool is drawn the attached account will always remain the same even if you change the selected account in the chart trader window. If you realized you drew the Position Sizing tool for the wrong account, delete that drawing tool, select the desired account and draw again the Position Sizing tool.

Commission cost:
If you have a Commission Template applied for the selected account, then the Risk and Target(s) dollar amount will include the applicable commission cost. For more information please review the NT8 help guide for Applying Commission Templates. You can also review the NT8 help guide for Working With Commission Templates.

Configuration:

The Position Sizing drawing tool properties window contains the following settings:
The Properties window of the Automatic Position Size tool

Interval visibility:
This setting allows you to see the Position Sizing tool on either any chart intervals (Timeframe) or only on the interval from which you drew the Position Sizing tool from and interval lower. For example, you draw the Position Sizing tool on a 60 minutes chart interval with the interval visibility set to “Draw_on_and_below_only” and then if you change the chart interval to 1 day (higher timeframe) the Position Sizing tool will be hidden. If you change back the chart interval to 15 minutes, the Position Sizing tool will be visible. This setting allows to go back to a higher timeframe and not get the chart clutter with many lower timeframe drawings.
If you set the Interval visibility to “All”, the drawing tool will always be visible.

Automatically place the Entry order:
When the option ‘Automatically place the Entry order’ is enabled, the Entry pending order will be automatically placed immediately upon deselecting the drawing. To deselect the drawing, simply click outside of it.

If you move the Position Sizing drawing while there is a pending Entry Order, that order will automatically be cancelled. Once you have finished moving the drawing, the Entry Order will be automatically resubmitted immediately when you click outside of the Position Sizing tool to deselect it.

To bypass the automatic Entry Order submission without deactivating the ‘Automatically place the Entry order’ option, hold down the Alt key when clicking outside the Position Sizing tool to unselect it. This prevents automatic submission of the Entry Order.

You can also activate/deactivate this setting by right clicking on the Position Sizing drawing and selecting “Automatic Order Submission” from the context menu.
Activate / deactivate the Automatic Order Submission from the context menu

A green dot is visible on the left side of the Entry anchor point when the Automatic Order Submission is active.
Green dot beside the Entry anchor point when the Automatic Order Submission is active

Automatically place the Entry order when ALT key is down:
If you want the Entry order to be automatically submitted only occasionally, you can enable the option ‘Automatically place the Entry order when ALT key is down.’ When this option is enabled, the Entry pending order will be automatically placed immediately upon deselecting the drawing if the ALT key is pressed. To deselect the drawing without automatically submitting the Entry order, simply click outside of it without pressing the ALT key.

If you move the Position Sizing drawing while there is a pending Entry Order, that order will automatically be cancelled. Once you’ve finished moving the drawing, if you press the ALT key when clicking outside the Position Sizing tool to deselect it, the Entry Order will be automatically resubmitted immediately.

An orange donut is visible on the left side of the Entry anchor point when the option ‘Automatically place the Entry order when ALT key is down’ is active.
Orange donut beside the Entry anchor point when the 'Automatically place the Entry order when ALT key is down' is active

Alert when Entry get filled:
When the option called “Alert when entry get filled” is active, an alert will be sent to your mobile device through our add-on called ‘Instantaneous NinjaTrader Alerts as push notification on iOS and Android mobile devices‘ when the Entry order gets filled. This ensures real-time notifications to your smartphone, even if you’re not actively using NinjaTrader at the time.

Alert when Stop or Reward get filled:
When the option called “Alert when Stop or Reward get filled” is active, an alert will be sent to your mobile device through our add-on called ‘Instantaneous NinjaTrader Alerts as push notification on iOS and Android mobile devices‘ when either the Stop or the Target order gets filled. This ensures real-time notifications to your smartphone, even if you’re not actively using NinjaTrader at the time.

On the Properties window, you’ll find three distinct sections:
“Settings for any account”
“Group 1 account specific settings”
“Group 2 account specific settings”

Account specific settings for the Automatic Position Sizing Drawing Tool for NinjaTrader 8
To configure different settings for specific accounts, use either the “Group 1 account specific settings” or the “Group 2 account specific settings”. In the respective field labeled “Account names for group 1 specific settings” or “Account names for group 2 specific settings”, input the account names precisely as they appear in the Chart Trader window or on in the ‘Display Name’ column on the Control Center window. Please note the account name is case sensitive. Separate multiple accounts with a comma, followed by a space.
For instance: Sim101, Sim102
Account name for account specific settings
After configuring your desired settings, please save them in a default template by clicking on ‘Template’ at the bottom of the Properties window. This will enable you to use these settings on every new Position Sizing drawing you create.

Account value offset when using %
When entering a non-zero number in this setting, the selected Account value will be offset by this number when the Risk Method is set to one of the Percentage of Account value.

A positive offset number will increase the account value.
A negative offset number will decrease the account value.

This setting is useful for trading funded account. For instance, if the allowed drawdown is only $1500 for a $25000 account, effectively reducing the available trading funds to $1500,the trader can set an offset of -23500. This ensures that the tool calculates the percentage of risk based on the adjusted account value of $1500.

Risk calculation method:
You can select from:

  • Percentage_of_selected_account_Cash_Value
      With this setting, the quantity (number of units to trade) will be calculated from the percentage of the account Cash Value that you set into the Risk value setting box. If you want to risk 0.5% of your account Cash Value, set 0.5 into the Risk value setting box.
      Note: The NT 8 definition of Cash Value is simply the cash value of the account.
  • Percentage_of_selected_account_Buying_Power
      With this setting, the quantity (number of units to trade) will be calculated from the percentage of the account Buying Power that you set into the Risk value setting box. If you want to risk 0.5% of your account Buying Power, set 0.5 into the Risk value setting box.
      Note: The NT 8 definition of Buying Power is the account’s buying power, taking margin into account.
  • Percentage_of_selected_account_Total_Cash_Balance
      With this setting, the quantity (number of units to trade) will be calculated from the percentage of the account Total Cash Balance that you set into the Risk value setting box. If you want to risk 0.5% of your account Total Cash Balance, set 0.5 into the Risk value setting box.
      Note: The NT 8 definition of Total Cash Balance is the total cash available in the account including any debits or credits.
  • Percentage_of_selected_account_Net_Liquidation
      With this setting, the quantity (number of units to trade) will be calculated from the percentage of the account Net Liquidation that you set into the Risk value setting box. If you want to risk 0.5% of your account Net Liquidation, set 0.5 into the Risk value setting box.
      Note: The NT 8 definition of Net Liquidation is the total worth of the account’s assets (including margin).

Risk Template Name:
This setting allows you to set the applicable Risk Template Name. The Risk Template allows you to set a maximum order quantity for each instrument. The Position Sizing drawing tool will read the “Max Order Size” from the Risk Template applicable to the instrument and will limit the position size to this value. You can review the NT8 help guide for more information about Using the Risk window.

Do not calculate exchange rate:
When the instrument currency is different than the account currency, by default the tool automatically calculates all amounts in the account currency and adjust the number of units accordingly. To do so, a valid exchange rate is required. You therefore need to have data for the corresponding Forex pair. For example if the account is in Euro and the instrument is ES, you need to have recent data for EURUSD Forex instrument. There are different ways to get the data such as opening a chart or adding this instrument to the Market Analyser window. You can use the free end of day Kinetick data or a realtime data feed service that includes Forex data.

When this option is active, the tool will not calculate the amounts in the account currency but will instead use the instrument currency.

Round Qty to board lot for stock:
When selected, the quantity (number of shares) will be rounded down to the nearest block of 100 for the American stock. For the Toronto Stock exchange, the board lot is defined as follow:

  • Share price lower than 0.10$, the board lot is 1000
  • Share price from 0.10$ and lower than 1$, the board lot is 500
  • Share price from 1$ and above, the board lot is 100.

Note: This setting will only round the quantity if the chart instrument has a type defined as Stock in the NinjaTrader Instrument settings.

Round Qty to Forex lot for Forex:
The quantity (number of units) will be rounded to Forex lot, ie in block of 1000 units.
Note: This setting will only round the quantity if the chart instrument has a type defined as Forex in the NinjaTrader instrument settings.

Round Qty from the last reward:
When using more than one reward, when the total quantity for the trade can not be divided evenly across all rewards, by default the rounding will be done from the first reward. With this option active, the rounding will be done from the last reward.

Do not use a Target for the last reward:
When this option is active, only a Stop order will be place but the associated Target order won’t be placed and won’t be visible. This allows to trail the stop.

If the Properties window is used to change the option from don’t use the last reward to use the last reward, the last reward anchor will be behind the entry anchor.

Use a single Stop order:
When this option is active, instead of using a specific Stop order for each target, a single Stop order will be used for all targets. This proves especially beneficial for stock trading, given the commission cost structure. Employing a single Stop Order can effectively reduce commission expenses should the price trigger the stop.

Risk offset in ticks:
When a value different than 0 is set, the risk price will automatically be offset by this many ticks. The value could be positive or negative. A positive offset value increases the risk whereas a negative offset value reduces the risk.

For example when this setting has a value of 1, for a long position on ES if you drew the risk at a price of 3900.50 the tool will automatically move the risk anchor to 3900.25 increasing the risk by 1 tick. When this setting has a value of -1, for a long position on ES if you drew the risk at a price of 3900.50 the tool will automatically move the risk anchor to 3900.75 decreasing the risk by 1 tick.

This setting is useful for traders who like to snap the risk to a previous bar point like the low of the bar but prefer to have a small offset.

Please note that this setting won’t have any effect if changed for an existing drawing. Instead you need to save this setting as a Default Template and it will be effective for the subsequent Position Sizing tool you draw.

# of ticks to stagger Stop Orders:
NinjaTrader combine all orders that are at the same price into a single order line that is visible on the chart. When you are using multiple rewards, if you would like to independently manage each stop associated to each reward from your chart, then the workaround is to use a different price value for each stop. This way NinjaTrader will show a specific order line on the chart for each Stop and you can therefore manually manage each stop independently from your chart.

To activate this feature you need to you input by how many tick(s) increment each Stop order price should be. A positive value will move the Stops further away from the Entry and a negative value will move the Stops closer from the Entry.

Entry offset in ticks:
When a value different than 0 is set, the entry price will automatically be offset by this many ticks. The value could be positive or negative. A positive offset value will move the entry towards the profit target by that number of ticks. A negative offset value will move the entry towards the risk by that number of ticks.

For example when this setting has a value of 1, for a long position on ES if you drew the entry at a price of 3900.50 the tool will automatically move the entry anchor to 3900.75. When this setting has a value of -1, for a long position on ES if you drew the entry at a price of 3900.50 the tool will automatically move the entry anchor to 3900.25.

This setting is useful for traders who like to snap the entry to a previous bar point like the low of the bar but prefer to have a small offset.

Please note that this setting won’t have any effect if changed for an existing drawing. Instead you need to save this setting as a Default Template and it will be effective for the subsequent Position Sizing tool you draw.

Use Buy/Sell MIT for Entry:
By default, if the entry is a Limit Order (for example this will happen if the entry price is below the current market price for a long position) the tool will place a pending Buy Limit order.

Select this option if you prefer to have a ‘Market If Touched’ (MIT) Order instead of a Limit Order for your Entry.

Use Buy/Sell Stop Limit for Entry:
By default, if the entry is a Stop Order (for example this will happen if the entry price is above the current market price for a long position) the tool will place a pending Stop Market order.

Select this option if you prefer to have a Stop Limit Order instead of a Stop Market Order for your Entry.

Buy/Sell Stop Limit offset in ticks:
This setting allows you to specify how many ticks beyond the Entry price you are willing the Entry Stop Limit Order to be filled. Please note the setting “Use Buy/Sell Stop Limit for Entry” must be selected for this setting to be effective.

For example if you enter 2 in this setting, and your entry price for a long position is at 3900.00 on ES, then at the worst case scenario you could to be filled 2 ticks beyond your Limit price at 3900.50.

Hold SHIFT key to snap Entry price to current price:
When this option is active, when the Position Sizing drawing is selected and when you hold down the SHIFT key, the Entry anchor price will follow the current market price.

Place Market Order for Entry when SHIFT key is down:
You now have the option to use a Market Order to enter by holding down the Shift key while the “Automatically place the Entry order” option is active.
To place a market order instead of a limit order, the following settings need to be adjusted:

  • – Ensure that the “Automatically place the Entry order” option is active.
  • – Ensure that the “Hold SHIFT key to snap Entry price to the current price” option is active.
  • – Ensure that the “Place Market Order for Entry when SHIFT key is down” option is active.

Then, use the Position Sizing tool to draw the Stop Loss, the Entry, and possibly the Target at their desired locations. When holding down the Shift key, the entry price will snap to the current price. If the Shift key is held down while clicking outside of the Position Sizing drawing, a market order is placed. However, if the Shift key is not held down when clicking outside of the Position Sizing drawing, a limit order is placed.

Use Buy/Sell MIT for Reward(s):
By default, the tool will place a pending Limit order for the Reward(s) (Targets).

Select this option if you prefer to have a ‘Market If Touched’ (MIT) Order instead of a Limit Order for all Reward(s).

Reward 1 to 5 scale out %:
These settings allow you set how the position size should be split among the number of rewards.

If you selected the Position Sizing with 1 target, then you need to leave the Reward 1 scale out % to 100. All other Reward scale out % won’t have any effect.

If you selected the Position Sizing with 3 targets, then you need to:

  • – set the percentage of the trade quantity to close when the price reaches the target 1 in the Reward 1 scale out % setting box, and you also need to
  • – set the percentage of the trade quantity to close when the price reaches the target 2 in the Reward 2 scale out % setting box, and you also need to
  • – set the percentage of the trade quantity to close when the price reaches the target 3 in the Reward 3 scale out % setting box and
  • The values in the box Reward 4 scale out % and Reward 5 scale out % wont have any effect.
  • Please make sure the sum of Reward 1, Reward 2 and Reward 3 % is 100. If the sum is not 100 you will get this error message Error window popup if the sum of all reward scale out % is not 100
    and your values have been automatically replaced by the default scale out values.

Auto target : Calculate from net amount values:
By default the tool calculate the auto target from ticks, which means if you set 2 in the option called “Reward 1 ratio for auto target” and you have 10 ticks between the stop and the entry, the target 1 will be automatically placed 10 ticks away from the entry.

If you activate the option called “Calculate auto target from net amount values” the target will be placed with the required number of ticks away from the entry such that the target amount value will be as close as possible to the net amount of risk including the commission cost.

Auto target : Allow manual override:
This setting works in conjunction with the “Reward ratio for auto target” settings.
When this setting is active, you can manually move the Reward anchor points manually. If the trader decides to move a reward anchor, that anchor is no longer automatically calculated so it will remain static until the trader manually move it again.
When not active, the Reward anchors can’t be adjusted as the value is automatically calculated from the “Reward ratio for auto target” settings.

Auto target : Reward 1 to 5 ratio:
When you input a number different than 0, that number is used to automatically calculate the respective Reward price based on the number of ticks for the Risk. For example, if there are 10 ticks between the Entry and the Risk, and this setting has a value of 1.5, that the Reward will automatically be created 15 ticks away from the Entry.

When this setting is active, you don’t need to draw the Reward anchors. Please note that for multiple targets, you can set a ratio only for specific targets. In that case, you will manually draw the Rewards that don’t have a ratio set and the tool will automatically draw the Rewards that have a ratio value different than 0.

News Events restriction:
Some traders have restriction to trade around news events, for example some Prop Firms do not allow traders to open a trade a number of minutes before/after high impact news. The following settings allow you to setup the drawing tool to take into account these restrictions.
News Events restrictions settings to open new trades.

News events source:
You can select either Myfxbook or Forex Factory as the news provided. Forex Factory news will be downloaded automatically from the Forex Factory website. If you select Myfxbook, you need to manually get the news source file from Myfxbook website. Please follow this instruction for how to do that.

Minimum News event impact to restrict new position:
This setting allow you to select from which news event Impact the restriction will be applicable. For example, if you are not allowed to trade around High impact news events, select High. If you are not allowed to trade around Medium and High impact news event, select Medium_High. Setting the value to No_restriction will not cause any restriction related to news Impact level.

Restrict news Title by instrument:
Some Prop Firm do not allow to trade some instruments around some specific news events. For example, a Prop Firm could not allow to trade CL around the “Crude Oil Inventories”. If such restrictions apply to your trading, set the values as follow in this setting box.
You need to put the instrument name followed by a comma followed by the news event title. No space between the delimiters. The separate each instrument by a ; (without any space).
For example:

    CL,Crude Oil Inventories,API Weekly Statistical Bulletin;ES,FOMC,Unemployment Rate

# of minutes before news event to restrict new position:
This setting allow you to set how many minutes before the restrictive news event a new position can not be open.

# of minutes after news event to restrict new position:
This setting allow you to set how many minutes after the restrictive news event a new position can not be open.

Auto Breakeven settings section:
You can configure up to 5 different breakeven rules. Each rule has the following parameters to configure:

Applicable to:
Select to which Reward the associated Stop Loss will move to breakeven. Selecting “All Stops” will move all Stops Loss together. Selecting “Stop 1” will only move the Stop Loss associated to the Reward #1 order.

Trigger type:
You can select from “Typical Bid Ask”, “Opposite Bid Ask” or “Last Price”.

  • Typical Bid Ask :
    • For a Long position, the Ask price is monitored to trigger the B/E.
    • For a short position, the Bid price is monitored to trigger the B/E.
  • Opposite Bid Ask :
    • For a long position, the Bid price is monitored to trigger the B/E.
    • For a short position, the Ask price is monitored to trigger the B/E.
  • Last Price :
    • For a long position, the Last price is monitored to trigger the B/E.
    • For a short position, the Last price is monitored to trigger the B/E.

Trigger offset:
This setting allows to define the amount of profit required to move the Stop Loss. If you leave this setting empty, the Stop Loss will not be moved to Breakeven. The syntax of this setting could be one of the 3 following:
– a number followed by R
– a number followed by %T followed by the referenced reward number
– a number followed by T
Examples:

  • 0.5R : Once the profit reaches 50% of the initial risk (0.5R) the Stop Loss will be moved.
  • 1.5R : Once the profit reaches 150% of the initial risk (1.5R) the Stop Loss will be moved.
  • 50%T1 : Once the profit reaches 50% of the targeted profit defined by the Reward #1 (1st target) the Stop Loss will be moved.
  • 100%T3 : Once the profit reaches the Reward #3 (3rd target) the Stop Loss will be moved.
  • 10T : Once the profit reaches 10 ticks, the Stop Loss will be moved.

Offset from Entry:
This setting allows to configure the offset to move the Stop Loss relative to the average entry price. If you leave this setting empty, the Stop Loss will move to the average entry price. The syntax of this setting could be a number followed by R or T.
Examples for a long position:

  • 0.5R : this value will move the Stop Loss to 50% of the initial risk range relative to the average entry price.
  • 1.2R : this value will move the Stop Loss above the average Entry price by 20% of the initial risk range.
  • 3T : this value will move the Stop Loss 3 ticks above the average entry price.
  • -2T : this value will move the Stop Loss 2 ticks below the average entry price.

Auto trailing stop section:
You can configure up to 5 different auto trailing stop rules. Each rule has the following parameters to configure:

Applicable to:
Select to which Reward the associated Stop Loss will trail. Selecting “All Stops” will move all Stops Loss together. Selecting “Stop 1” will only move the Stop Loss associated to the Reward #1 order.

Trailing type:
You can select from “Typical Bid Ask”, “Opposite Bid Ask” or “Last Price”.

  • Typical Bid Ask :
    • For a Long position, the Ask price is monitored to trigger the B/E.
    • For a short position, the Bid price is monitored to trigger the B/E.
  • Opposite Bid Ask :
    • For a long position, the Bid price is monitored to trigger the B/E.
    • For a short position, the Ask price is monitored to trigger the B/E.
  • Last Price :
    • For a long position, the Last price is monitored to trigger the B/E.
    • For a short position, the Last price is monitored to trigger the B/E.

Trigger offset:
This setting allows to define the amount of profit required to trigger the initial Stop Loss adjustment (to begin to trail the Stop Loss). If you leave this setting empty, the stop will trail from the moment price moves in profit. The syntax of this setting could be one of the 3 following:

  • – a number followed by R
  • – a number followed by %T followed by the referenced reward number
  • – a number followed by T
  • Examples:

    • 0.5R : Once the profit reaches 50% of the initial risk (0.5R) the Stop Loss will begin trailing.
    • 1.5R : Once the profit reaches 150% of the initial risk (1.5R) the Stop Loss will begin trailing.
    • 50%T1 : Once the profit reaches 50% of the targeted profit defined by the Reward #1 (1st target) the Stop Loss will begin trailing.
    • 100%T3 : Once the profit reaches the Reward #3 (3rd target) the Stop Loss will begin trailing.
    • 10T : Once the profit reaches 10 ticks, the Stop Loss will begin trailing.

Trail offset:
This setting adjust how wide the trailing stop will be. If you leave this setting empty, the original range between the Stop Loss and the average entry price will be used (1R). The syntax of this setting could be one of the 4 following:

  • – a number followed by R
  • – a number followed by T
  • – a number followed by TR
  • – a number followed by %P
  • Examples:

    • 0.5R : The stop will trail with 50% of the original stop range.
    • 1.2R : The stop will trail with 120% of the original stop range.
    • 10T : The stop will trail with 10 ticks meaning a pullback of 10 ticks will trigger the stop order.
    • 1TR : The stop will trail with the original stop range plus 1 more tick.
    • -2TR : The stop will trail with the original stop range minus 2 less ticks.
    • 20%P : The stop will trail with 20% of profit meaning the stop order will trigger when 80% of the unrealized profit is lost by a pullback to book 20% profit.

Visible info section:
Automatic Position Sizing Drawing Tool : Visible info settings

The settings for the Visible info section are as follow:
Automatic Position Sizing Drawing Tool Visible info description

Number of digits to show Reward to Risk Ratio
You can select with how many decimal places the Reward to Risk ratios are rounded by entering the value in this setting. For example, if the ratio is 1.567 and you enter 1, the ratio will be displayed as 1.6 but if you enter 2 the ratio will be displayed as 1.57.

Reward to Risk projection lines
If you would like to see a visual reference of where some Reward to Risk ratios are, you simply input the ratio values you want separated by ; (the semi colon character). For example, if you would like to see the 1R, the 1.5R and 2R levels you will input the following: 1; 1.5; 2.
How to setup the Reward to Risk projection lines

Please note that you need to use the Decimal symbol as defined in the Microsoft Windows regional setting, so for example, if your regional settings are set to Germany, you will need to use a , (comma) instead of . as decimal symbol. You can add as many ratios as you want.

You can save your settings in a Default Template file if you want this feature every time you use the tool.

You can customize the Reward to Risk ratio lines style under the Lines style section.

Calculate R:R projection lines from net amount values
By default the tool will use the price range from the Stop to the Entry to calculate the projection lines.

If you prefer to have the projection lines calculated from the Risk amount value (including the commission cost) select this option. For example if the Risk amount is $112.50 a projection of 2 will draw a line at the price level equivalent to a profit of $225.

Show R:R values over projection lines:
When you activate the option called “Show R:R values over projection lines” which is under the “Visible info” section, each Reward to Risk projection lines will be labeled.
Reward to Risk projection line labels

Text visibility:
You can select from:

  • VisibleWhenSelected
      The text will be visible when you click on the drawing tool. Otherwise it will be hidden.
  • AlwaysVisible
      The text will always be visible.
  • DoNotShow
      The text will always be hidden.

Text font:
Allow customizing font attributes (family, style, size) for all drawn texts.

Line style section
Automatic Position Sizing Drawing Tool Line style settings
You can customize the look of the entry, stop and reward(s) lines to your preferences. You can also select to extend the lines to the right edge of the chart and/or to the left edge of the chart.

Context Menu settings
Automatic Position Sizing Drawing Tool Context Menu settings
If you would like to be able to quickly change the default risk value for a specific position, you can activate the option “Show predefined risk values” from the “Context menu settings” section. You also need to enter your desired predefined risk values for each risk calculation method in the respective box below. A maximum of 5 different risk values is supported.

For example, let say you would like to be able to quickly change the % of risk of the account Cash Value from 0.5%, 0.8%, 1% and 1.5%. You will need to enter each predefined risk value separated by the semicolon character. Ie, 0.5; 0.8; 1; 1.5 in the “Predefined risk values for % of Cash Value” box.

To get these values by default on all new drawings, please save your settings as the Default Template.
Then when you right click on the Position Sizing drawing tool, you will get this context menu that allow you to quickly change the % of risk used to calculate the position size.
Automatic Position Sizing Drawing Tool - changing the risk value from the Context Menu

Submitting order:
When you are ready to place the order related to the Position Sizing drawing tool you drew, you can right click on the Position Sizing tool and click on Submit the associated orders.
Automatic Position Sizing Drawing Tool submit associated orders
This will automatically create a pending order for your entry and will automatically place OCO orders for the stop loss and each profit targets. OCO stands for One-Cancels-Other which is similar than creating an ATM strategy that is composed of a profit target and a stop loss but using our tool eliminates all possible typing errors when creating the ATM strategy.

If you drew a long position with the Position Sizing drawing tool:

  • If the Position Sizing drawing tool entry price is between the instrument current bid and ask, a buy market order will be submitted.
  • If the current instrument price is above the Position Sizing drawing tool entry price, a pending buy limit order will be submitted.
  • If the current instrument price is below the Position Sizing drawing tool entry price, a pending buy stop order will be submitted.

If you drew a short position with the Position Sizing drawing tool:

  • If the Position Sizing drawing tool entry price is between the instrument current bid and ask, a sell market order will be submitted.
  • If the current instrument price is above the Position Sizing drawing tool entry price, a pending sell stop order will be submitted.
  • If the current instrument price is below the Position Sizing drawing tool entry price, a pending sell limit order will be submitted.

If a news event restriction is active and you submit the order, the order won’t be submitted and you will get this pop up message:
Automatic Position Sizing Drawing Tool New Order error due to news restriction

If you have an active pending Entry order from a Position Sizing drawing tool that has news event restriction, when the news event restriction will become in effect, you will get this pop up message and the pending order will automatically be cancelled.
Automatic Position Sizing Drawing Tool pending order cancel due to news restriction
If you take no action, the order will automatically be re-submitted once the news event restriction is over. If you prefer to not get the order automatically re-submitted once the news restriction is over, you can right click on the drawing tool and select “Cancel the pending re-submission order due for after News Event”. Once you are ready to re-submit the associated order to this drawing tool, you can right click again on that tool and select “Submit associated orders”.

Important note about pending Entry orders:

Deleting the Position Sizing drawing tool while the Entry order is pending
If you submitted a entry order from a Position Sizing tool and while the Entry order is still pending you delete the related Position Sizing drawing tool from the chart, the associated Stop(s) and Target(s) OCO orders should still be placed once the Entry order get filled.

Modifying the Position Sizing drawing properties while the Entry order is pending
If you submitted a entry order from a Position Sizing tool and while the Entry order is still pending you change the related Position Sizing drawing tool properties, the associated Stop(s) and Target(s) OCO orders will still be placed according to the original settings. For example you place a pending Entry order for qty 1 contract and while the Entry is pending, you modify the Position Sizing drawing to qty 2 contrats, the pending Entry order remain for 1 contract the once filled, the Stop and Target OCO order will be placed for 1 contract but for the updated Stop and Target price values.

Disclaimer regarding submitting orders with our Position Sizing Drawing Tool:
Please use a Sim account or the Market Replay connection to get familiar with how the orders are submitted from our Position Sizing drawing tool. We will not be responsible for any loss you may incur by using our Products.

16 reviews for Automatic Position Size calculator drawing tool for NinjaTrader 8

  1. kal1212 (verified owner)

    Very helpful tool. Always improving. Thanks.

  2. niko (verified owner)

    I’ve been looking for a tool like this for years. There are obviously other position calculation tools on the market, but this one stands out for several reasons:

    1- Once the drawing is done on the chart, possibility to enter limit in the position. No other indicator does this.
    2- With a single right click, you can select a % of risk or a predefined fixed amount. This is SO practical and diabolically efficient.
    3- Works on all markets

    In summary, this tool has taken my trading to another level, I no longer need to spend endless time calculating my positions, choosing and placing my Take Profit and Stop Loss. I am able to do all this in a few clicks and focus on the trade’s evolution afterwards. My risk management is finally at the level I was hoping for.

  3. frannt (verified owner)

    It is a good tool that does exactly what it promises. I am very happy with it. Also, the customer support is particularly good.

  4. Brp (verified owner)

    During past few months I have been using the Automatic Position Size calculator drawing tool for NinjaTrader 8.

    As a day trader that I am, I apply the tool on fast moving Futures as NQ, YM and ES. It has been extremely beneficial in my trading.

    In Ninjatrader 8, I trade from chart, where only two mouse clicks are required to establish a position. First click identifies my Risk and second click identifies the Entry point.

    After clicking second time, in order to define Entry point, the tool automatically submits my Entry order on chart. If desired, I am able to cancel submitted order and resubmit order just by clicking on previously drawn lines on chart. I am able to preset the Entry order to be a Stop Market order or Stop Limit order. Also, I can preset the offset in ticks for the Entry and Stop orders.

    Immediately after Entry order has been filled, the tool automatically submits Market Stop order and up to 5 different, user defined and pre calculated Target orders.

    Automatic Entry order submission may be turned ON or OFF in preferences.

    Very clever functionality, extremely helpful, or better say, necessary when day trading a fast-moving futures market. It eliminates reading numbers and makes it possible just to concentrate on recognizing chart patterns.

    The tool is extremely addictive, can’t imagine going back to use anything else for position calculation and order placement.

    It is well coded and robust. During my extensive use of the tool, it never froze my charts or the platform (happens when using some other order placement tools).

    Today, this is the most valuable tool in my day trading.

    Well done, Ascendo Trading!

    //Brp, Sweden

  5. Sam B (verified owner)

    Excellent tool to use in fast moving markets
    Thank you
    Sam

  6. thomas.barkawitz (verified owner)

    The tool is awesome. I have been trying several ones for both Ninja8 and Tradestation and this is by far the best because it is superfast when assigned to a hotkey. I can literally size and enter a new position in 5 seconds. Highly recommend

  7. Michael Mitchell (verified owner)

    This is the best sizing tool out there by far for swing traders!

  8. andrew.beck (verified owner)

    Extremely helpful position sizing tool. I have been using it for position, swing and intraday trading. The ability to connect it to a hotkey allows for quick functionality in day trading if you are using an faster/smaller time frame.

    The inputs for max risk and R:R ratio are self explanatory.

  9. elsteve (verified owner)

    Thank you so much for creating this position sizing/entry tool. It makes my entries super on point, and I don’t have to worry about missing trades or getting the wrong price point from calculating the position size on my own while price is fluctuating. I can get the exact entry I want from this. Before I found this website, I was actually contemplating on how I can invent something like this for myself, but I am so glad I don’t have to pull my hair out trying to figure how I am supposed to do that!

  10. Maverick (verified owner)

    Works better and more seamlessly than any other trade assistant/position sizer tool I have used in the past! Saves time and cuts out unnecessary clicks. I would love to see an Auto BE function added at a set value or RR

  11. Benjamin (verified owner)

    This tool is a game changer. I f you know how to use it properly, it will enhance your edge over the rest of retail traders. Stephane did a god job. Great coder and truly concerned about his customer.

  12. Reesy (verified owner)

    An absolute necessity for Ninjatrader! Such a good tool.

  13. Jaromy Holland (verified owner)

    I LOVE this tool! I think it forces many correct trading habits by the design of the tool. First, it forces me to place my stop first which, when approaching a trading idea, it’s critical that my stop be at a point of invalidation and when I don’t have to think about placing the stop first, I often bring in the stop too tight to increase my position size and get stopped out prematurely on valid trade ideas. Second, it takes away all the thinking and converting my risk amount to the number of contracts I can buy based on my risk. This allows me to simply look at the charts and trade the pattern and trade ideas instead of worrying about the dollars behind the trade. This has helped me become better at focusing on the process of trading instead of the dollars and the money is coming easier than ever.

    10/10 recommend this trading tool!

  14. Liams (verified owner)

    I NEVER take the time to review a product but I have to say this is the best entry tool I’ve in years and years. If your are a scalper / day trader you’ll be able to enter your orders in less than 2-3 seconds (risk + lot size included + stop loss + take profit all included and so many more options !).

    Worth even penny, DO NOT hesistate on that purchase as I can promise to you, you won’t regret it !

    Great job by the developers you guys are killing it !

  15. Michael Mitchell (verified owner)

    The best tool out there and been using it for a few years now. Makes it much faster to enter orders. There are many new tools trying to copy it but they don’t compare. The last feature it’s missing is the option to limit total size of position from being a large percentage of an account when the stop size is very small. The tool is worth much more than the price!

  16. Jake C (verified owner)

    Been using this fool for about a year and it enables me to trade price action on the 15 second chart (since it can auto place the orders and size the position.) No way i could create accurate position sizes otherwise. IMO all traders should have a position calculation/ order entry tool and this is a great one

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