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David,
This is very 'Chris Tate'.
Have you seen my request to Thomas for a least squares fit function ?
The idea is to have
sell = close < lsf(close,10) - 2 * atr(10).
lsf is the line of best fit (calculated using a mathematical leat squares fit of price (could be high as you've chosen).
The market is then determining your sell position.
Interested ?
Geoff
Original Message:
-----------------
From: David Holzgrefe dtholz@xxxx
Date: Tue, 8 May 2001 15:03:26 +1000
To: amibroker@xxxxxxxxxxxxxxx
Subject: [amibroker] Chandelier stop
Hi all Here a little afl that you may find handy is in the form af a Guru commentry..
Is there a way to get ami to place the signal on a chart for the current cursor position only ?
/* Chandelier stop
By David Holzgrefe
7.05.2001*/
"\n Chandelier stop is a trailing stop that use the true average range atr(10) in this case * 2.5"+
" The length of the multiplier will impact on the profitability. Obviously, a larger multiplier will let larger trends develop but has the potential to leave larger profits on the table. A smaller multiplier will leave less profit on the table but increase whipsaw." ;
"";
writeval(atr(10)) + " ATR Value"; // change periods to suit
chandler=atr(10) *2.5; // Change the multiplier to suit
writeval(chandler) + " Chandelier value";
stopval= high-chandler;
writeval(stopval) + " Chandelier stop";
/*buy = 0;
sell = stopval;
*/
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