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Hi Adan
> I hope you can help me...
>
> I have been playing around with a Prev-based MAE Stop but cannot seem to get
> it right!
>
> I am using one of Metastock 9 EOD's built in Entries to enter and then want
> to exit if the Low retraces 5% or more from my entry point or if I get a
> signal in the opposite direction (Short Sell).
> All trades are executed the following morning at Open, after the signal hes
> been received.
>
>
> The code:
> LBuy:=ForecastOsc(C,14)<0 AND
> Cross(ForecastOsc(C,14),Mov(ForecastOsc(C,14),3,S));
> SSell:=ForecastOsc(C,14)>0 AND
> Cross(Mov(ForecastOsc(C,14),3,S),ForecastOsc(C,14));
>
> LongStop:=
> If(PREV=0,
> If(Ref(Lbuy,-1),(0.95*O),0),
> If(L<=0.95*PREV OR Ref(SSell,-1),0,PREV));
> {Exit When}
> LongStop;
The problem here is that you are setting the latch to your stop price (95% of the OPEN, the trade
entry price), and then you are looking to exit when the price drops a further 5%. You are applying
the 5% to the initial entry price, which then becomes the PREV value on subsequent bars, and then
you're looking for a further 5% off the PREV price. Removing the second "0.95*" as shown below
should do the trick.
LongStop:=
If(PREV=0,
If(Ref(Lbuy,-1),(0.95*O),0),
If(L<=PREV OR Ref(SSell,-1),0,PREV));
{Exit When}
LongStop;
Kind regards
Roy
www.metastocktips.co.nz
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