Rank: Newbie
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Joined: 2/17/2005(UTC)
Posts: 3
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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
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers
Joined: 9/8/2004(UTC)
Posts: 2,266
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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.
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Rank: Newbie
Groups: Registered, Registered Users
Joined: 3/9/2005(UTC)
Posts: 5
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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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