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BitTwiddler  
#1 Posted : Thursday, February 17, 2005 9:35:02 PM(UTC)
BitTwiddler

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Hi, I am writing a system test. I have my long entry working but I am having trouble coming up with a way code my exit. I normally set my loss stop to be a multiple of the Average True Range on the day I enter (actually it is ATR(x)). So I would need to store off that value upon entry, so that I can determine if the price has dropped below my ATR multiple (or be able to re-calculate it at any given point). Any pointers would be appreciated! BT
Patrick  
#2 Posted : Thursday, February 17, 2005 10:12:29 PM(UTC)
Patrick

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I would do something like : BuyCondition:={your buy condition}; StopAtr:=Valuewhen(1,BuyCondition,ATR(X))*{Your Multiplier}; EntryPrice:=Valuewhen(1,BuyCondition,C); Cross((EntryPrice-StopAtr),C) Hope this helps.
jerome  
#3 Posted : Wednesday, March 9, 2005 12:30:09 AM(UTC)
jerome

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unfortunately if the buy condition happens after you are in the trade then patrick's code will not give you the same atr stop. have a look at the plugin http://www.tradernexus.com/ which gets around this problem. i use it all the time and its great - you can define your own atr multiples and it plots the stop on the chart really well jer
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