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I don't.
<SPAN
class=010593818-21082003>
I was just
responding to Bhavesh Rajyaguru who was looking for a trailing stop, so I
adapted one of my standard indicators.
<SPAN
class=010593818-21082003>
I normally use a
stop that either hangs off the highest recent high, or sits a squeak or two
below the lowest low of last 2/3/4/5 ?? days. That way the stop is reactive
to the price action, not just time-based.
<SPAN
class=010593818-21082003>
The main point of
the post was to suggest one way of constructing a trailing stop indicator that
latches in with an entry signal and holds in until the exit. It could easily be
adapted to any logic that you wish to apply.
<SPAN
class=010593818-21082003>
<SPAN
class=010593818-21082003>Cheers
<SPAN
class=010593818-21082003>MS
<SPAN
class=010593818-21082003>
<SPAN
class=010593818-21082003>
-----Original Message-----From:
cobalt_cannon [mailto:no_reply@xxxxxxxxxxxxxxx] Sent: Friday, 22
August 2003 4:21 AMTo:
equismetastock@xxxxxxxxxxxxxxxSubject: Re: [EquisMetaStock Group]
trailing stop configuration
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@xxxx] > 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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