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Yes, unfortunately that's how most MS trailing stops work - they need
at least one bar after a signal to reset for the next one. Having
said that, I'd like to add that applying trailing stops to a choppy
market is a recipe for early bankruptcy.
Keep in mind that the one should also be using exits based on market
conditions, and that a good professional trailing stop (i.e., not
free) will reset on the trader's entry & exit signals, rather than an
arbitrary cross of a price plot that may have no relevance to the
trader's signals.
jose '-)
http://www.metastocktools.com
--- In equismetastock@xxxxxxxxxxxxxxx, "pastbankhkarr"
<pastbankhkarr@xxxx> wrote:
> Jose,
>
> I was applying the "Trailing Stop-ATR Chandelier Exit v3.0"
> indicator to EOD chart for NGS and noticed that an Exit Signal (-1)
> was given on 8/18/05 (Settings: multi=3, pds=10, pds1=21, plot=1,
> adv=0, delay=0).
>
> I expected to see an Entrance Signal (+1) on the next day, 8/19/05
> given OHLC was above the "Trailing Stop" plot. However, there wasn't
> one.
>
> I think I know why and that is because the "Close" for 8/19/05 does
> not "cross" the plot.
>
> Is this the intent of the code or an anomaly? I posted a file
> titled, "NGS", that shows the chart, indicator and settings.
>
> Thanks for the help.
>
> Lee
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