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Dear Mr Davis,
Creating this indicator should be easy in Easy Language but I don't have
the time to do it for you. I am, however, copying this message to the Omega
List where lots of people who have the skills regularly check in. Perhaps
one of them can do it for you.
Sorry it took to long to get back to you but I've been on vacation.
John
>Dear Mr. Sweeney,
>
>I have been a subscriber of your magazine since 1995 and have really gotten
>so much from it. Thank you for the resource that you provide.
>
>I have a question (request) that I hope you may be able to respond to.
>
>I use Tradestation 2000i and after recently reading some of Joe Ross's books
>on trading, realized that I need a good volatility stop indicator to trail
>my stops.
>
>In his book, Trading the Ross Hook (pp 136-140) he discusses a volatility
>stop that:
>
> 1. Has an input value for the number of bars that the average true range
>is calculated for (eg 5 bars, 10 bars etc)
> 2. Will plot a dot (line) of the average true range of "X" bars from the
>CLOSE of the last bar
> 3. Is able to plot either for an uptrending market or down trending
>market...that is only one side of the
> envelope appears on the screen....depending upon the trend
>direction of prices...
> 4. He also mentions something called a multiplier (that he normally sets
>at 1)...I don't know what that is.
>
>Mr. Ross mentioned that he used the volatility indicator that was in the
>program Ensign, but I don't have that program. Mr. Ross isn't able to help
>me with Omega ela. language.
>
>I noticed that you are familiar with volatility. Is there anyway to get an
>indicator that would plot average true range of "x" number of bars from the
>close of the last bar and do it with a one sided indicator (if prices are
>going up the volatility indicator trails average true range from the bottom
>going up...and visa versa)?
>
>I know this is asking more than I should, but if it would also be possible
>to see the actual value (of the average true range of the number of bars
>used in the input) at the close of each bar displayed as an numerical value
>somewhere on the subgraph of Tradestation...I could see that value and then
>just add or subtract that value from that bars close and use it as a stop
>entering on the close of that bar...
>
>Any assistance that you could provide would be most appreciated.
>
>Very truly yours,
>
>Loren Davis
John Sweeney, Technical Editor Technical Analysis of Stocks & Commodities
Technical Analysis, Inc. The Traders' Magazine
4757 California Ave. S.W. Phone: 206 938-0570 Fax: 206 938-1307
Seattle, WA 98116-4499 USA Web: http://www.traders.com/
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Contents may not reflect official opinion of Technical Analysis, Inc.
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