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I am new to AmiBroker and have been using Metastock. I was told that
it is much powerful in coding stop.
I need to have a protective trailing stop (not sure if I use the
right word or not!), that moves to protect profit as price move
favorably. The logic follows similar to Richard's ATS, but I have
checked with him who confirmed that it is not possible to code the
stop that I want.
Say for Long, with price is higher than the entry price (BPx) by
100, change the stop to entry price (BPx) + 5 (to cover commission
and etc), and than if price reaches to the level of entry price
(BPx) + 2*ATR(10), change the trailing stop to H-3.5*ATR(10).
Please see the following:-
LE:=buy signal;
BPx:= to be defined;
InitBStop:=to be defined;
When PX hits BPx + 100 (# can be amended) ---> Stop changes to BPx +
5 (to cover comissions etc);
When Px hits BPx + 2*ATR(10) ---- > Stop moves to H-3.5*ATR(10);
This is similar to Ricard Dales¡¦s DLL which has added to move to
next pyramid stop when next level of px hit e.g. BPx + 4*ATR(10)}
SE:=sell signal;
SPx=to be defined;
InitSStop:=to be defined;
When Px hits SPx -100 -----> Stop moves to SPX - 5 ;
when Px hits SPx - 2*ATR(10) ---- > Stop moves to L +3.5*ATR(10);
Can any expert help me coding this?
Sa
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