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wally,
can't quite figure how this will work. if you leave the stop at 80% of your
close it will work well all the way up; it won't ever trigger; but on the
way down, it will carry on down beneath you, in a comforting sort of way.
It's a bit like hanging out a sell now sign on the end of a rope hanging
from your hot air balloon, you only catch up with it when you hit the
ground.
one way to plot some price offsets is with the moving average indicator,
which is on the toolbar, indicator quicklist, which lets you input say 1 day
average, at any displacement from the price, up down and or sideways.
Simon
-----Original Message-----
From: j seed <jseed_10@xxxxxxxxxxx>
To: metastock@xxxxxxxxxxxxx <metastock@xxxxxxxxxxxxx>
Date: 14 March 2000 16:04
Subject: Re: Stop Loss
>Wallie,
>Pie of cake! First go to the Indicator Builder...click on new...name your
>new indicator(Wallie's 20% Stop Loss Indicator). Now the hard part...how
>does your original indicator plot? Is it an oscillator or a simple line
>study? Oscillators plot above and below a specific point usually zero. Line
>studies plot price values. If you are willing to accept a value that is 80%
>of your original indicator value then go to functions and select your
>indicator (ie. let's use CCI(14)...) Finally, we want a value of 80% so
>we'll multiply by .80 . So here's your indicator:
>W20SLI
>CCI(14) * .80
>
>You may also want to use the other side of the equation by multiplying by
>120%; so your indicator would be:
>
>CCI(14) * 1.20
>
>You can plot both lines at the same time in the same indciator by defining
>them in an indicator as follows:
>
>{W20SLI}
>MINUS:= CCI(14) * .80;
>PLUS:= CCI(14) * 1.20;
>MINUS;
>PLUS;
>
>Okay, we've helped you and now it's your turn to help us! Share the results
>of what you get!
>
>J.
>
>
>>From: "Norman Walsh" <nwalsh@xxxxxxxxxxx>
>>Reply-To: metastock@xxxxxxxxxxxxx
>>To: <metastock-list@xxxxxxxxxxxxx>
>>Subject: Stop Loss
>>Date: Mon, 13 Mar 2000 20:47:02 -0000
>>
>>Hi
>>As a new comer to metastock I would like to know how to plot an Indicator
>>20% below a line chart, as a stop loss. Also how to start it at a specific
>>date.
>>
>>Thanks in advance.
>>
>>wallie.
>
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