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Chorlton,
The loop code does the same thing as the first three lines, but allows
you to remove extra buy signals as you go so that they don't affect
the sell array (since sell signals are based on the date of buy signals).
The HighestSince line just says set hsb to the highest value of the
AccDist array since the most recent buy signal (which is where you can
get a problem if there's a new buy signal while you're still holding).
Sell is then the AccDist value dropping more than 10% below that
highest value. Note that hsb is an array in this case.
The loop is broken into two main cases: when it's not holding already,
and when it is. When it's not holding, it's looking for buy signals.
When it is holding, it removes any more buy signals and just looks for
sell signals. When not holding and a buy signal is encountered, it
changes the state to holding (ie. doHold = True) and sets the highest
AccDist value (hsb) to the current bar's AccDist value. When holding,
it first checks for the current bar's AccDist value being higher than
the highest already recorded, and changes the highest to the new
higher value if so, then checks to see if the current bar's AccDist
value is more than 10% below the currently-recorded highest value. If
so, then that's a sell signal, in which case it sets the Sell array to
True at that bar, and changes the state to not holding (doHold =
False). Note that hsb is a single value in this case, not an array.
Hope this helps.
Regards,
GP
--- In amibroker@xxxxxxxxxxxxxxx, "chorlton_c_hardy"
<chorlton-c-hardy@xxx> wrote:
>
>
> Hello GP,
>
> Thanks for your detailed reply.
>
> Looking at the code posted, I think I will need to refer back to the
> manual just to ensure that I understand what every line of code is
> actually doing, as my programming is pretty basic!!! :-/
>
> However, I do appreciate your time in posting the answer.
>
> Many Thanks & All the best,
>
> Chorlton
>
>
>
> --- In amibroker@xxxxxxxxxxxxxxx, "gp_sydney" <gp.investment@>
> wrote:
> >
> > That's not really a trailing stop, since the AccDist line can fall
> as
> > long as it doesn't exceed your limit.
> >
> > You could try something like:
> >
> > ad = AccDist();
> > hsb = HighestSince(Buy, ad);
> > Sell = ad < hsb*0.9;
> >
> > Note though that this will be upset by new buy signals before a sell
> > if the AccDist value has dropped somewhat from its highest value
> since
> > the last buy. When you hit a new buy, hsb will then be the highest
> > since that buy, which may be lower than the highest value since the
> > original buy. This could allow AccDist to drop more than 10% from
> the
> > highest value since the original buy without triggering a sell. If
> you
> > want to avoid that, you'd probably need to generate the Sell array
> > iteratively using a loop, removing redundant Buy signals as you go:
> >
> > ad = AccDist();
> > Sell = False;
> > hsb = 0;
> > doHold = False;
> > for (i = 0; i < BarCount; i++)
> > {
> > if (!doHold)
> > {
> > if (Buy[i])
> > {
> > doHold = True;
> > hsb = ad[i];
> > }
> > }
> > else
> > {
> > Buy[i] = False;
> > if (ad[i] > hsb)
> > hsb = ad[i];
> > if (ad[i] < hsb * 0.9)
> > {
> > doHold = False;
> > Sell[i] = True;
> > }
> > }
> > }
> >
> > Regards,
> > GP
> >
> >
> > --- In amibroker@xxxxxxxxxxxxxxx, "chorlton_c_hardy"
> > <chorlton-c-hardy@> wrote:
> > >
> > > Hello All,
> > >
> > > I'm tryin to code a trailing stop loss but am having a number of
> > > problems with writing the code.
> > >
> > > What I'm trying to achieve is:
> > >
> > > 1. Once a Buy signal appears from my system, the value of the
> current
> > > AccDist() Line should be recorded.
> > >
> > > 2. As long as the AccDist() moves upwards the trade should remain
> > > open.
> > >
> > > 3. However, once the AccDist() line falls by a certain percentage
> > > (say 10% for this example) from its Highest value since the trade
> was
> > > opened, the trade should be stopped out.
> > >
> > > I have some code for a simple trailing stop based on the Low of
> the
> > > price (see below) but I'm not sure how to modify it to accomplish
> the
> > > above.
> > >
> > > Any ideas would be most welcome...
> > >
> > >
> > > Initial = LLV(Low,5);
> > >
> > > stop[0] = Close[0];
> > > for( i = 1 ; i < BarCount; i++)
> > > {
> > > if( Close[i] > stop[i-1])
> > > {
> > > stop[i] = Max( initial[i], stop[i-1] );
> > > }
> > > else { stop[i] = initial[i]; }
> > > }
> > >
> > > Plot( stop, " Stop Loss", ParamColor("Color", colorCycle ),
> ParamStyle
> > > ("Style", styleDots | styleNoLine, maskDefault | styleDots |
> > > styleNoLine ) );
> > >
> > >
> > > Many Thanks in advance,
> > >
> > > Chorlton
> > >
> >
>
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