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It would seem that the re-listing of situations from the user guide
only highlighted the need for a mode such as the one you ask for. As
you suggest, the second option he gives is workable, but the long way
around the barn...and what if you need high and low for other
purposes?
Let me add the following reasons to the discussion of suggestion
#1 : "implement such stop as regular trading rule using loop".
Many many systems need the regular trading rules to be set up
differently from the stops. If you need both regular trading rules
to work one way, and stops another, then this solution becomes very
complicated indeed!
Also, Amibroker has the tremendous virtue of avoiding the need for
looping in most cases, as the documentation points out. Why
compromise this virtue?
What would be easiest for the users would be another mode; however,
if it would be easier for our leader, one could get the desired
effect also with a new reserved variable like "stopprice." You could
have stops go off on close but get filled at the next bar's open with
a statement like "stopprice = ref( Open , [plus] 1)".
Perhaps that is too awkward?
So I would say your request goes beyond "the interest of
simplicity." Thank you for raising the issue.
--- In amibroker@xxxxxxxxxxxxxxx, "Dave Merrill" <dmerrill@xxxx>
wrote:
> Thanks for your detailed reply Tomasz. I had read the ApplyStop
docs before,
> which is what led me to ask the question. It seems to me to be a
very
> natural type of stop for EOD traders.
>
> As to #1 of your proposed solutions, of course I can code my own
stops, and
> have done so. I don't think I like #2, since OHLC may be used for
other
> analysis, and QuotesPlus brings all that in every night.
>
> In the interest of simplicity though, I wonder if there could be a
new
> ExitAtStop mode some day that could handle this. As I said, it
seems like
> checking EOD prices for stop exits and trading with the normal
amount of
> TradeDelay is what EOD traders would typically do.
>
> Thanks,
>
> Dave
>
> As for your specific question there are (at least) two
possibilities:
> - implement such stop as regular trading rule using loop (see the
very end
> of http://www.amibroker.com/guide/whatsnew.html
> for the sample code)
> - import only CLOSE and OPEN prices to your database, so that
High and
> Low is set to CLOSE price and use Scenario 3
>
> Best regards,
> Tomasz Janeczko
> amibroker.com
>
> ----- Original Message -----
> From: "Dave Merrill"
>
>
> > Typically, I do my analysis in the evening, on EOD data, and
trade at
> open
> > the following morning. Am I right that there's no ApplyStop
mode that
> checks
> > only Close price for stop hits, and trades the following Open?
> >
> > Here's what the dosc say for the ExitAtStop parameter:
> >
> > ExitAtStop = 0 - means check stops using only trade price and
exit at
> > regular trade price
> > (if you are trading on close it means that only close price
will be
> checked
> > for exits and exit will be done at close price)
> > ExitAtStop = 1 - check High-Low prices and exit intraday on
price equal
> to
> > stop level on the same bar when stop was triggered
> > ExitAtStop = 2 - check High-Low prices but exit NEXT BAR on
regular
> trade
> > price.
> >
> > Thanks,
> >
> > Dave Merrill
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