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The primary reason is I want the tool to do the work it was designed
for - why should each of us have to write and debug our own stop
code?. Setting stops is (or should be) a basic function and should
be bullet proof. I'll bet there are hundreds of versions of stop
code and many have bugs ( I know the versions I wrote do.)
Secondly, in order for my hand-coded stops to exit intraday in an
EOD trading system, I have to (?) change SetTradeDelays in the
loop. What subtle effects that might have on, say Equity(1), I have
no way of knowing, and a code change in a future version may have an
impact. If I could use Applystop, then those effects would be found
in testing or beta.
For quite a whileI though that I'm missing something, that there was
some obvious answer that I was too ignorant to understand. But
nearly every week someone else asks for help on Applystop - because
is it poorly and incompletely documented, and it does not work
correctly. I've ask AB Support and this forum how to use the output
of the SafeZone stop code as the input for trailing stop in
Applystop. No one to date has an answer, except to write my own.
By the way, in the 4.75BETA, there is an intermitent (means I
couldn't figure what triggers it :-) bug when using this code:
ApplyStop( stopTypeProfit, stopModePoint, Profit_Amount,
Exitatstop=1, Reentrydelay=2)
where a few of the Sell(profit) trades are big losses with the exit
price being a small integer. I reported it, with documentation, on
Jan. 6th. Haven't heard anything since.
IMHO, AB development should put a hold on new features that only a
few percent of us use, and fix and document Applystop.
Thanks for the replies,
/joe
-- In amibroker@xxxxxxxxxxxxxxx, "cstrader" <cstrader232@xxxx> wrote:
>
> Joe:
>
> Why do you need the applystop if you're using a loop? The loop
can create the sells for you.
>
>
> ----- Original Message -----
> From: Joe Bolton
> To: AB
> Sent: Monday, January 09, 2006 5:01 PM
> Subject: [amibroker] How to set the "amount" in ApplyStop
(stopTypeTrailing, stopModePoint,amount,1,1,1)
>
>
> Greetings,
>
> I am trying to implement the Elder Safe Zone stop from code I
got from the library and elsewhere. Try as I might (and it's been a
while), I cannot determine how to convert the stop price I get from
the SZ calculation into the "amount" for a trailing stop. I have
searched Help, the AB site and newsgroups here but have not found
any useful information on how to make this work or how AB handles a
trailing stop.
>
> As you can see below, I have approximated a trailing stop, but
it has the disadvantage of using the the next day's open when the
actual stop is greater than the next day's prices and it does not
exit intraday.
>
> The setup for EOD trading, exiting intraday is in my formula --
the profit stop I've coded works as expected. Following the work-
around for the trailing stop is the code I started for the trailing
Applystop, bu t of course the code for the "amount" is wrong. What
is there is the closest I could come to getting the right amount and
it's very wrong.
>
> Thank you for any help you can provide.
>
> TrailingStop = 4; //simulate trailing stop
> LookbackPeriod = 8;//Optimize("SZLkBk",12,4,12,1); //Set
Lookback period
> AvgDnPenCoeff = 1.9;//;//Optimize("SZLongCoeff", 1.35, 1.5, 3.5,
0.1); //
> DownPen = IIf(Low < L1, L1 - Low, 0); //Identify amount of each
penetration -- O=none
> DownPenSum = Sum(DownPen,LookbackPeriod); //Total volume of
penetrations during the lookback period
> DownPenCount = Sum(Low < L1, LookbackPeriod); //Number of
penetrations during lookback period
> AvgDownPen = DownPenSum/DownPenCount; //Average penetration
amount during lookback period
> AvgDownPen = Nz(AvgDownPen, 0);//Insure it is not NAN
> DownPenSum = Sum(DownPen, LookbackPeriod); //Total volume of
penetrations during the lookback period
> SafeZoneLong = L1 - (AvgDownPen*AvgDnPenCoeff); // "Place your
stop at a multiple of yesterday's AveDownPen below yesterday's low."
> SafeZoneTrailLong = HHV( SafeZoneLong, BarsSince(Buy) +
1 );//stop can' t drop during trade
> SZStopLong = IIf( Low <= Ref( SafeZoneTrailLong, -1), True,
False); //the stop is trigger
> SZStopLong = ExRem(SZStopLong, Buy);//mask off secondary SZ
signals
> //Trailing stop workaround
> for( i = 0; i < BarCount; i++ )
> {
> if( SZStopLong[i] == True )
> {
> SellPrice[i] = SafeZoneTrailLong[i];
> Sell[i] = TrailingStop;
> }
> }
> Plot(SafeZoneTrailLong, " SellStop", colorYellow,
styleStaircase);
>
> //How to make this work?
> SZTrailLong_Amount = High - Ref(SafeZoneTrailLong, - 1); //Wrong
> SZTrail_ExitAtStop = 1;
> SZTrail_Volatile = True;
> SZTrail_ReEntryDelay = 1;
> ApplyStop(stopTypeTrailing, stopModePoint, SZTrailLong_Amount,
SZTrail_ExitAtStop, SZTrail_Volatile, SZTrail_ReEntryDelay);
>
> Best regards,
>
> Joe
>
>
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