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Philip,
I agree, the two stop-losses nearly constitute a system by themselves,
providing you stick to trending situations, but I'd look for a better
entry.
Strongly recommend the book mentioned and also Chande's other book
"Beyond Technical Analysis". Anyone could give themselves a good
education in TA by working progressively through both books, coding and
testing as they go.
HHP
======================
Philip wrote:
>
> Good stuff, HHP, thanks very much for posting it. Without having actually worked
> with the code, I'm guessing that something like this might be useful for entries,
> too. Any thoughts on that? . . . anything that might save me another, say, 18
> months of poking around? <g>
>
> Philip
>
> HHP wrote:
>
> > Here's a stoploss from Chande & Kroll's The New Technical Trader p.167,
> > 'Volatility-Based Trailing Stops'. There are three input variables to
> > play with.
> >
> > {Volatility Stop (Long)}
> > Pds1:= Input("ATR Lookback?",2,100,10);
> > Mult:= Input("ATR Multiplier?",1,20,3);
> > Pds2:= Input("HHV Lookback?",2,100,20);
> > PrelimStop:= HHV(H,Pds1) - ATR(Pds1)*Mult;
> > ActualStop:= HHV(PrelimStop,Pds2);
> > ActualStop
> >
> > {Volatility Stop (Short)}
> > Pds1:= Input("ATR Lookback?",2,100,10);
> > Mult:= Input("ATR Multiplier?",1,20,3);
> > Pds2:= Input("LLV Lookback?",2,100,20);
> > PrelimStop:= LLV(L,Pds1) + ATR(Pds1)*Mult;
> > ActualStop:= LLV(PrelimStop,Pds2);
> > ActualStop
> >
> > HHP
> > =========================
> >
> > Simon Roberts wrote:
> > >
> > > 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.
> > > >
> > > >______________________________________________________
> > > >Get Your Private, Free Email at http://www.hotmail.com
> > > >
> > > >
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