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Gordon
Glad you like the code I suggested.
The "PREV<=0" is to ensure that we only consider an entry (setting the
latch) when not already set. This check is not strictly necessary for a
pseudo binary latch, but where the "PREV<=0" is needed is when the latch is
set to a value that is not binary (i.e. HIGH, ATR(7) or whatever), and then
it is essential that ONLY the first entry signal is used to set the latch
value. If a second or subsequent set signal was allowed to change the value
then the usefulness of the latch as a memory device is destroyed. The down
side of storing a variable value (instead of a fixed value) is that another
PREV must be added to the code.
Whether you use one, two, or three or more PREV's in a latch will depend on
the number of exit options you want to consider. The choice is yours - from
very simple to very complex.
Roy
---- Original Message -----
From: "Gordon Sutherland" <gosuth@xxxxxxxxxxxx>
To: <equismetastock@xxxxxxxxxxxxxxx>
Sent: Sunday, August 10, 2003 8:38 PM
Subject: RE: [EquisMetaStock Group] Metastock Fixed Trailing Stop Loss
> A futher thank you for the assistance last week of Peter Kuskopf, Steve
> Roweau, and Roy Larsen for putting forward some great alternatives for
> fixed stops in the Enhanced System Tester.
>
> After getting my head around the code volunteered, I have found that
> your code, Roy, with the two PREV functions gives me what I want and
> does not seem to slow my machine too much when running through
> reasonably large databases ie
>
> A:=3; {ATR multiplier}
> BC:=Cross(Mov(C,15,E),Mov(C,25,E)); {buy example}
> SC:=Cross(Mov(C,25,E), Mov(C,15,E)); {sell example}
> Trade:=If(PREV<=0,BC,If( {SC OR} {optional sell}
> C<HighestSince(1,PREV=0,C)-A*ATR(7),-1,1));
> Trade<0;
>
> I specifically wanted to hang the 3*ATR(7) stop from the highest high
> SINCE POSITION ENTRY and the code does this beautifully and verified
> with a chart indicator showing the code provided as a binary wave and
> also checking the results with alternate system testing software. It
> also works if you allow pyramiding of positions! It even makes money in
> this basic form!!
>
> Whilst I can follow the above code, I am just a little unclear what the
> rule "PREV<=0" is referring back to. I assume it is checking that the BC
> condition has not fired. If you could give some clarification here it
> would greatly increase my ability to use the PREV function in the
> future. I suspect other Metastock users in this Group may struggle with
> this very important function also.
>
> Once again thanks for the help. In the meantime, I shall be trying to
> incorporate multi-exit conditions into the above code such as if the
> Chandelier Exit fired or a fixed number of days has expired.
>
> Regards,
>
> Gordon Sutherland
>
> -----Original Message-----
> From: Roy Larsen [mailto:rlarsen@xxxxxxxxxxxxxx]
> Sent: Tuesday, 5 August 2003 11:34 a.m.
> To: equismetastock@xxxxxxxxxxxxxxx
> Subject: Re: [EquisMetaStock Group] Metastock Fixed Trailing Stop Loss
> to go along with Trade Sim?
>
>
> Gordon
>
> I'm happy to give whatever assistance you need to sort out the problem
> or
> explain any code. You just have to ask.
>
> Roy
>
>
> ----- Original Message -----
> From: "Gordon Sutherland" <gosuth@xxxxxxxxxxxx>
> To: <equismetastock@xxxxxxxxxxxxxxx>
> Sent: Tuesday, August 05, 2003 11:15 AM
> Subject: RE: [EquisMetaStock Group] Metastock Fixed Trailing Stop Loss
> to go
> along with Trade Sim?
>
>
> > Peter and Roy,
> >
> > Thank you both for your great inputs. Not having a programmer's logic
> I
> > do struggle with having to build code if the functions are not
> available
> > in the application. So, when I receive help to find a solution it is
> > like opening up Aladdin's cave!
> >
> > Roy, I am tied-up for next day or so but I will get my head around the
> > two methodologies and see if I can make it work for me and perhaps I
> can
> > come back if I need clarification.
> >
> > Regards,
> >
> > Gordon Sutherland
> >
> > -----Original Message-----
> > From: Peter Kuskopf [mailto:pkuskopf@xxxxxxxxxxxxxxx]
> > Sent: Tuesday, 5 August 2003 10:18 a.m.
> > To: equismetastock@xxxxxxxxxxxxxxx
> > Subject: Re: [EquisMetaStock Group] Metastock Fixed Trailing Stop Loss
> > to go along with Trade Sim?
> >
> >
> > Also check Roy Larsen's comments regarding use of a PREV latch. I
> don't
> > use the PREV latch because of the speed issues, but it will depend on
> > the size of the database, and your requirements for accuracy.
> >
> > Peter K
> >
> > ----- Original Message -----
> > From: Gordon <mailto:gosuth@xxxxxxxxxxxx> Sutherland
> > To: equismetastock@xxxxxxxxxxxxxxx
> > Sent: Tuesday, August 05, 2003 7:54 AM
> > Subject: RE: [EquisMetaStock Group] Metastock Fixed Trailing Stop Loss
> > to go along with Trade Sim?
> >
> > Peter,
> >
> > Thank you for you input - your code looks excellent - I will try it
> out.
> > I must admit that I have not tried to use the code Equis supplied as
> of
> > yet.
> >
> > Regards,
> >
> > Gordon Sutherland
> >
> > -----Original Message-----
> > From: Peter Kuskopf [mailto:pkuskopf@xxxxxxxxxxxxxxx]
> > Sent: Monday, 4 August 2003 9:47 p.m.
> > To: equismetastock@xxxxxxxxxxxxxxx
> > Subject: Re: [EquisMetaStock Group] Metastock Fixed Trailing Stop Loss
> > to go along with Trade Sim?
> >
> >
> > I think the formula that Equis gave you will get you just the high of
> > the entry day.
> >
> > For a trailing chandelier, that is, updated with each new high, you
> > probably want:
> >
> > ARC=3; {for example}
> > BC={Buy Condition};
> > C<=HighestSince(1, BC, H) - ARC*atr(7);
> >
> > Peter
> >
> > ----- Original Message -----
> > From: Gordon <mailto:gosuth@xxxxxxxxxxxx> Sutherland
> > To: equismetastock@xxxxxxxxxxxxxxx
> > Sent: Monday, August 04, 2003 5:30 PM
> > Subject: RE: [EquisMetaStock Group] Metastock Fixed Trailing Stop Loss
> > to go along with Trade Sim?
> >
> > I wanted to to set a Chandelier Exit in the Enhanced System Tester EOD
> > and received the following assistance from Equis Inter'l. Metastock
> > seems to make it very hard to establish easily the Position Entry
> Date.
> > Hope the undermentioned doesn't add to the confusion.
> > Regards,
> > Gordon Sutherland
> >
> > From: formulas@xxxxxxxxx
> > Sent: Thursday, 26 June 2003 3:54 a.m.
> > To: gosuth@xxxxxxxxxxxx
> > Subject: RE: Coding of a Volatility Exit [T200306230076]
> >
> >
> > Sir,
> >
> > you will have to use the valuewhen function.
> > It would look like :
> >
> > BC:={buy condition};
> > Valuewhen(1,BC,H)
> >
> > Hope this helps
> >
> > Best regards,
> > Patrick S Nouvion
> > Equis Technical support
> >
> > -----Original Message-----
> > From: IMCOutgoing
> > Sent: Monday, June 23, 2003 3:09 AM
> > Subject: Re:Coding of a Volatility Exit [T200306230076Z305061]
> >
> >
> > Sender : gosuth@xxxxxxxxxxxx
> > Tracking Number : T200306230076Z305061
> > Pool : Formulas
> > Sent to : Equis support <support@xxxxxxxxx>
> > Date : 6/23/2003 3:09 AM
> > _____
> >
> > Forwarded by: Doug
> >
> > (no comments entered)
> > _____
> >
> > Hi,
> >
> >
> > I am running MetaStock 8.01 EOD. I would like to write a rule that
> will
> > trigger an exit in the Enhanced System Tester if the Close falls below
> > say 3 * ATR(7) from the High since entry of the trade. I can't see a
> > Simulation function that will give me the Position High Price. Is it
> > possible for you to help me with this, I am hoping to use it in a TA
> > Society presentation later this week and to provide the hard code
> rather
> > than just the concept of a "Chandelier Exit" would add credibility.
> >
> >
> > TIA.
> >
> > Regards,
> >
> > Gordon Sutherland
> > New Zealand
> >
> >
> >
> >
> > Regards,
> >
> > Gordon Sutherland
> >
> > -----Original Message-----
> > From: metastockuser [mailto:metastockuser@xxxxxxxxx]
> > Sent: Monday, 4 August 2003 5:29 p.m.
> > To: equismetastock@xxxxxxxxxxxxxxx
> > Subject: [EquisMetaStock Group] Metastock Fixed Trailing Stop Loss to
> go
> > along with Trade Sim?
> >
> >
> > Does anyone here know how to set up a fixed trailing stop loss in a
> > metastock exploration (8.0 End of Day) that will work with trade Sim?
> >
> > I've found a formula on the net but not being a programmer don't
> > really understand it or how to work it into a set up so that it works
> > with Trade Sim
> >
> > If(cum(1)=1,
> > {then} Close,
> > {else} If((C*1.1) <= PREV,
> > {then}(C*1.1),
> > {else} PREV));
> >
> > I'm using two triggers. But I've got no idea of how a fixed trailing
> > stop loss would be set up. Perhaps as a trailing band (similar to the
> > volatility and standard diviation stops) so the "volatility" for the
> > band could be the fixed trailing stop loss forumula?
> >
> > I would imagine the set up might work as below but if anyone knows for
> > sure, has done a fixed trailing stop, I'd love to know how you did it.
> >
> > Trigger1:= (trade system exit conditions);
> > Volatility:= (trailing stop loss formula?);
> > BandLong:=ExtFml("TradeSim.TrailingStop",
> > Trigger,
> > Long,
> > Volatility,
> > CLOSE,
> > ExitTrigger:= Trigger1 or Trigger2
>
>
>
>
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