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Hi,
I'm trying to use ApplyStop so that a trailing stop of the previous
bar's low kicks in ONLY after an indicator (call it MyIndicator) has
reached a certain value.
The code snippet I'm using appears below, but it doesn't work. What
happens is that ONLY the "Sell = L < SellStop;" condition kicks in --
causing many more losing trades than would have otherwise been exited
profitably. The trailing stop that I want to kick in after
MyIndicator has reached the specified level doesn't.
// -- Code snippet
// -- arbitrary buysetup
BuySetup = foo;
// -- If the buysetup occurred yesterday and the stock
// trades above the yesterday's high, enter trade
Buy = (Ref(BuySetup, -1) AND C > Ref(H, -1));
// -- The worst-case sell stop is the low of the setup day
SellStop = ValueWhen(BuySetup, L);
// -- Btw, how do I prevent a sell on the same day I enter?
// Not sure I understand how "zero delays"
// "Activate Stops Immediately" work together
Sell = L < SellStop;
// -- Here is where I want to implement a trailing stop. First,
// convert arrays to numbers for if statement (using IIf() inside
// apply stop generated an error of illegal arguments).
LastBuyBar = StrToNum(NumToStr(ValueWhen(Buy, BarIndex())));
LastSellBar = StrToNum(NumToStr(ValueWhen(Sell, BarIndex())));
LastMyIndicator = StrToNum(NumToStr(MyIndicator));
// -- Ok, if we're currently in a buy, and MyIndicator is equal
// to or greater than .8, I now want to trail a stop below
// the previous day's low
if (LastBuyBar>LastSellBar AND LastMyIndicator >= .8) {
ApplyStop(stopTypeTrailing, stopModePoint, Ref(L, -1), 1, True);
// -- otherwise, I only want to worst-case sell stop of the low
// of the setup day to be active, so I'll turn off appply stop
} else {
ApplyStop(stopTypeTrailing, stopModeDisable, Ref(L, -1), 1, True);
}
I want the stops used in the system to be intra-day, and to
kick in no sooner than the second day of the trade. Is anyone aware
of why the code above would not work/what the correct settings would
be? Thank you for your input.
Btw, also, does anyone know if you have more than one ApplyStop in a
backtest, and what to do with the Sell variable if ApplyStops take
care of all of your sell scenarios?
Regards,
Gordon
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