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Mike,
What do you typically use for your EntryPCT & DailyPCT.
Can you provide your logic?
Thanks for the great post.
CC
--- In equismetastock@xxxxxxxxxxxxxxx, "Mike Sloane" <mfsloane@xxxx>
wrote:
> I do not use the system tester available in MetaStock; I prefer to
build
> custom indicators to return entry and exit conditions and derived
> cumulative equity.
>
> The following is a cut down sample of the type of code that will
provide
> you with a trailing stop that latches ON at the start of a trade,
> follows the trade (adjusting daily) and reverts to zero on exit,
> awaiting the next entry signal.
>
> Fml("LONGALERT") can be any vaild set up condition; entry price
trigger
> in example assumes that you enter at or above the HIGH on the day
> following your set up condition. You will need to fill in your
values
> for EntryPCT and DailyPCT.
>
> The indicator returns:
> a) the adjusted value of the trailing stop for every day that the
stop
> is not breached;
> b) (-ve) the adjusted value of the trailing stop on the day of exit;
> c) zero when not in a trade.
>
> If you want to plot this an indicator on a chart, suggest you
create a
> separate formula that returns the TrailingStop value when >0 and LOW
> when <=0 to overcome scaling problems.
>
> {yesterday set-up?}
> SetUpDay := Ref(Fml("LONGALERT"),-1);
>
> {determine entry price trigger and actual entry price}
> Trigger := Ref(H,-1);
> {did it open higher?}
> Trigger := If(O > Trigger, O, Trigger);
>
> {calculate set-up day stop value}
> EntryPCT:= {insert x value};
> DailyPCT:= {insert y value};
> SUDStop:= (Ref(H,-1) + Ref(L,-1))/2 - EntryPCT*ATR(10);
>
> {calculate entry day result}
> EntryDayResult:=
> If(SetUpDay AND H >= Trigger,
> If(L <= SUDStop, -SUDStop, SUDStop), 0);
>
> {calculate trailing stop}
> TrailingStop:=
> If(PREV <= 0, EntryDayResult,
> If(L <= (PREV + DailyPCT*ATR(10)),- PREV, (PREV +
> DailyPCT*ATR(10))));
>
> TrailingStop
>
> Good luck with your trading.
>
> MS
>
>
>
>
> -----Original Message-----
> From: Bhavesh Rajyaguru [mailto:bha6973@x...]
> Sent: Wednesday, 20 August 2003 4:49 PM
> To: equismetastock@xxxxxxxxxxxxxxx
> Subject: [EquisMetaStock Group] trailing stop configuration
>
>
> Hello,
>
> I am user of Metastock ver 8.0 EOD,
> not good at programming and requires help.
>
> I have recently made my system but have
> one problem i.e I am not able to configure
> trailing stop as per my concept.
>
> I want to configure my trailing stop for longs :
> the day my system generates buy signal :=
> median price minus x% of atr(10) and daily
> subsequently y% of atr(10) should be added.
> similarly reverse for shorts : the day my system
> generates sell signal:=i.e median price
> plus x% of atr(10) and daily
> subsequently y% of atr(10) should be subtracted.
>
> I want this concept to be optimized in system tester
> and also as custom formula which can tell me
> next day's stop in advance.
>
> any suggestion other than this concept
> also invited.
>
> anybody there who can help me
> out would be highly appreciated
>
> Thanks for helping me in advance.
>
> Bhavesh Rajyaguru
>
>
>
>
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