Rank: Advanced Member
Groups: Registered, Registered Users
Joined: 11/7/2005(UTC)
Posts: 30
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Hi
I use a simple volatility based trailing stop:
For long trades, trailing stop = Close - 4 * ATR(15)
For short trades, trailing stop = Close + 4 * ATR(15)
I have a simple indicator that plots:
if(C > Mov(C, 250, E), {bullish}
Close - 4 * ATR(15), {long trailing stop}
Close + 4 * ATR(15)) {short trailing stop}
How can I make it so that the stop always move in the direction of the trend? At the moment my stops go up and down, depending on the ATR
Thanks in advance
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Rank: Advanced Member
Groups: Registered, Registered Users, Unverified Users
Joined: 7/12/2007(UTC)
Posts: 134
Location: Perth Western Australia
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Rank: Advanced Member
Groups: Registered, Registered Users
Joined: 11/7/2005(UTC)
Posts: 30
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Thanks for the link. It looks really good, but after downloading and installing the exe, I can't see the indicators. I ran the exe again and it even warned that the indicators already exists on my PC.
I am using MetaStock 8 and Vista Business Edition. I noticed there are some posts about MetaStock not being compatible with Vista. Could this be the problem?
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Rank: Advanced Member
Groups: Registered, Registered Users, Unverified Users
Joined: 7/12/2007(UTC)
Posts: 134
Location: Perth Western Australia
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You should be able to see 6 new indicators in your Indicator Builder, 2 of which are RAD*ChandelierStopLong and RAD*ChandelierStopShort which can be edited (last line of code) to match your ATR period and deducted from CLOSE not HIGH.
If these new indicators are not there then your problem is beyond my knowledge and would suggest you search on this site for similar problems or start a new thread in the relevant forum.
All the best,
oz
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Rank: Advanced Member
Groups: Registered, Registered Users
Joined: 11/7/2005(UTC)
Posts: 30
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Thanks again for the reply.
I worked out the cause of the problem. I had to let the EXE run as Administrator and this meant that only the Administrator can see the new indicators.
So I exported the formulae and imported them into my normal login.
No wonder so man ypeople, including me, dislike Vista!
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