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That really does sound like the Count Back Line as discussed in SHARE
TRADING by Daryl Guppy.
>From the highest high bar (Bar 1)you go back from the low of that bar to the
previous highest high bar(Bar 2)and from the low of this bar to previous
highest high bar (Bar 3) and then from the low of this bar draw the stop
loss line. If the close breaches this line then prepare to exit.
There is code for it but it is cumbersome. I'm posting it to the list later.
I mainly place the CBL manually like in the attached chart.
Regards
Ian
>From: Roberts@xxxxxxxxxxxxxxxxxxx (Simon Roberts)
>Reply-To: metastock@xxxxxxxxxxxxx
>To: <metastock@xxxxxxxxxxxxx>
>Subject: Re: Trailing Stop
>Date: Wed, 5 Apr 2000 13:06:48 +0100
>
>Ian,
>Thanks for sharing this with us, I thought your trade chart v. interesting.
>Have you checked out the 1DL, 2DL, 3DL; Robert Miner uses them. These look
>similar to your Guppy line, but, you take the extreme high as day 1, then
>go
>back to day three, for the 3DL and take the low there, ignoring any inside
>days as you count back. You can tighten it up, to 2DL or 1DL as you think
>the move is ending. You will always leave something on the table for the
>next guy, that's just life.
>-----Original Message-----
>From: Ian Burgoyne <iburgy@xxxxxxxxxxx>
>To: metastock@xxxxxxxxxxxxx <metastock@xxxxxxxxxxxxx>
>Date: 04 April 2000 09:33
>Subject: Trailing Stop
>
>
> >I've been trying to improve my position trading by using a volatility
> >indicator to exit long positions primarily to protect profits. I like the
> >concept of a volatility stop as it is directly linked to the ranging
> >activity of the security. A number of them have been discussed on this
>forum
> >such as the Volatility Stop (Long) by Chande & Kroll, Trading The Trend
>by
> >Andrew Abrahams, ATR Trailing Stop by Yngvi Hardarson and the Count Back
> >Line by Daryl Guppy.
> >
>
>
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