trailing stop loss : Here is an indicator to play...

Sun, 16 Sep 2012 06:26:33 +0000

Author: cmacdon
Subject: 689
Posted: 16 Sep 2012 at 6:26am

Here is an indicator to play around with. I developed it some time ago when I read a Michael Jenkins article where he used the square root theory to set stop loss levels but I discarded Sq roots method as it did not seem to work too well on some low value dollar ASX stocks.

Instead, this indicator attempts to show whether a stop loss based on the settings for a number of ATRs is more conservative than a % stop set by the user. It is interesting as once set the more conservative solution changes from time to time as shown by the colour fills and some markers. A variable requires the indicator to be set for Longs or shorts.

[target

=Price;]

n :=

input("Time periods for highest high",15);

type :=

input("Is this Stop for 1 Long or 2 Short",1);

sl :=

input("percent for Stop Loss",6);

LongPercent:=

If(type=1,Highest(h,n)-((sl/100)*C),undefined);

[color

=Dark Gray; linestyle=Dotted; width=2;]

LongPercent;

S2 :=

input("No. of ATRs for Stop Loss",2);

LongATR:=

If(type=1,Highest(h,n)-(atr(n)*s2),undefined);

[color

= Dark Purple; linestyle=Dotted; width=2;]

LongATR;

{ Fill }

[name

=Fill; linestyle=fill; visible=false]

[color

= Dark Gray] LongPercent;

[color

= Dark Purple] LongATR;

[name

=% Set more conservative; linestyle=marker; marker=type1; visible=no] [tooltip="% Set more conservative"]

cross

(LongPercent, LongATR);

[name

=ATR set more conservative; linestyle=marker; marker=type1; visible=no] [tooltip="ATR set more conservative"]

cross

(LongATR, LongPercent);

shortPercent:=

If(type=2,Lowest(l,n)+((sl/100)*C),undefined);

[color

=Dark Gray; linestyle=Dotted; width=2;]

ShortPercent;

ShortATR:=

If(type=2,Lowest(h,n)+(atr(n)*s2),undefined);

[color

= Dark Purple; linestyle=Dotted; width=2;]

ShortATR;

{ Fill }

[name

=Fill; linestyle=fill; visible=false]

[color

= Dark Gray] ShortPercent;

[color

= Dark Purple] ShortATR;

[name

=% set more conservative; linestyle=marker; marker=type1; visible=no] [tooltip="% set more conservative"]

cross

(ShortPercent, ShortATR);

[name

=ATR set more conservative; linestyle=marker; marker=type1; visible=no] [tooltip="ATR set more conservative"]

cross

(ShortATR, ShortPercent);

trailing stop loss : Hello slips, What kind of stop...

Fri, 04 Mar 2011 21:32:22 +0000

Author: maximo
Subject: 689
Posted: 04 Mar 2011 at 9:32pm

Hello slips,

What kind of stop loss did you want to use, example. ATR or percentage or another?

trailing stop loss : Hi again I asked a question last...

Fri, 04 Mar 2011 13:26:17 +0000

Author: slips
Subject: 689
Posted: 04 Mar 2011 at 1:26pm

Hi again

I asked a question last night, but reading it now I don't think anyone would have quite got what i was asking. I have been unable to work out how to put my own trailing stop loss in my charts. can anyone guide me through the right process

slips

BullCharts : trailing stop loss

trailing stop loss : Here is an indicator to play...

trailing stop loss : Hello slips, What kind of stop...

trailing stop loss : Hi again I asked a question last...