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Bob,
Once the indicator is attached / placed onto a chart, right click on it and choose the parameters tab.
Then at the fifth parameter...trailing stop=1,Long+Short=2,signals=3
Choose 3
The indicator plot will be +/-1
Preston
--- In equismetastock@xxxxxxxxxxxxxxx, Bob Waits <bobwaits2@xxx> wrote:
>
> Sorry, let me be more specific. The indicator states that if it's +1, then long and if it's -1 then short. But the plot goes from 100 to 0. I wanted to know if I was missing something here i.e. do I need to normalize this and how to use the idicator to set my stops.
> Thanks.
>
> --- On Fri, 4/10/09, pumrysh <no_reply@xxxxxxxxxxxxxxx> wrote:
>
> From: pumrysh <no_reply@xxxxxxxxxxxxxxx>
> Subject: [EquisMetaStock Group] Re: Using "Trailing Stop - Elder's SafeZone"
> To: equismetastock@xxxxxxxxxxxxxxx
> Date: Friday, April 10, 2009, 11:00 AM
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> Check with Elder's group
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> http://finance. groups.yahoo. com/group/ CIMTR/
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> --- In equismetastock@ yahoogroups. com, Bob Waits <bobwaits2@ ..> wrote:
>
> >
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> >
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> >
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> > I came across this code by Jose Silve on a forum. Any idea on what's the best way to use this indicator?
>
> > Thanks.----- Dr Alexander Elder's SafeZone trailing stop v2 }{ Triggers: Long (+1) &
>
> > Short (-1) signals at crossover of user-defined trailing stops }{ ©Copyright
>
> > 2003 Jose Silva }{ josesilva22@ ... }
>
> > coefficient: =Input("SafeZone coefficient" ,
>
> >
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> > 0,10,2.5);
>
> >
>
> > bkpds:=Input( "Lookback periods",1,252, 10);
>
> >
>
> > pds:=Input(" Trend EMA periods",2,252, 21);
>
> >
>
> > adv:=Input(" plot: today's SafeZone=0, tomorrow's stop=1",0,1, 0);
>
> >
>
> > plot:=Input( "plot: trailing stop=1, Long+Short=2,
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> > signals=3",1, 3,1);
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> >
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> > delay:=Input( "Entry and Exit signal delay",
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> >
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> > 0,5,0);
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> >
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> >
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> >
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> > DwSidePen:=Mov( C,pds,E)> Ref(Mov(C, pds,E),-1)
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> >
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> > AND L<Ref(L,-1);
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> >
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> > DwSideDiff:= If(DwSidePen, Ref(L,-1) -L,0);
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> >
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> > DwPenAvg:=Sum( DwSideDiff, bkpds)
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> >
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> > /(Sum(DwSidePen, bkpds)+.000001) ;
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> >
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> > StLong:=Ref( L-DwPenAvg* coefficient, -1);
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> >
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> > StopLong:=If( C<PREV,StLong, Max(StLong, PREV));
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> >
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> >
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> >
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> > UpSidePen:=Mov( C,pds,E)< Ref(Mov(C, pds,E),-1)
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> >
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> > AND H>Ref(H,-1);
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> >
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> > UpSideDiff:= If(UpSidePen, H-Ref(H,- 1),0);
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> >
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> > UpPenAvg:=Sum( UpSideDiff, bkpds)
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> >
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> > /(Sum(UpSidePen, bkpds)+.000001) ;
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> >
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> > StShort:=Ref( H+UpPenAvg* coefficient, -1);
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> >
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> > StopShort:=If( C>PREV,StShort, Min(StShort, PREV));
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> >
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> >
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> >
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> > In:=Cross(C, Ref(StopShort, -1));
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> >
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> > Out:=Cross(Ref( StopLong, -1),C);
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> >
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> > flag:=BarsSince( Cum(In+Out> -1)=1 OR In)
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> >
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> > < BarsSince(Cum( In+Out>-1) =1 OR Out)
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> >
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> > +(Cum(In)=1) ;
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> >
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> > signals:=Ref( (Cum(In)= 1
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> >
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> > AND Alert((Cum(In) =1)=0,2)
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> >
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> > OR flag AND Alert(flag=0, 2))
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> >
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> > -(flag=0 AND Alert(flag,2) ),-delay) ;
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> >
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> >
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> >
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> > If(plot=1,Ref( If(flag=1, stopLong, stopShort) ,
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> >
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> > -1+adv),If(plot= 2,Ref(stopLong, -1+adv),0) );
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> >
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> > If(plot=1,Ref( If(flag=1, stopLong, stopShort) ,
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> >
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> > -1+adv),If(plot= 2,Ref(stopShort, -1+adv),
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> >
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> > signals))
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> >
>
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