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Stumbled across your plugin discovery and wanted to bump it for some more visibility - very interesting; thanks.
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Thanks very much, Jose - found it with a search for "Dale" on your site. I've been there several times before; there's a wealth of info that'll take a while to explore, another thanks for all the work you've done. As for me, I'm just happy to fully understand LeBeau/Dale chandelier stop concepts.
BTW, have you run across any MS code to implement the YoYo Exit strategy described by LeBeau here: http://www.traderclub.com/discus/messages/107/121.html?ThursdayFebruary1119991017pm
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Quote:We should caution you that the Yo Yo stop should never be our only loss protection because if the price moves slowly against our position the Yo Yo stop also moves away each day and, in theory, the stop may never be hit.
Not my idea of an effective trailing stop. :)
jose '-)
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Yeahbut, just above your quote appears this:
Quote:Although this stop appears similar to the Chandelier Exit the logic is quite a bit different. The Yo Yo Exit is a classic volatility stop that is intended to recognize an abnormal adverse price fluctuation that occurs in one day. This abnormal volatility is often the result of a news event or some important technical reversal that is likely to signal the end of a trend. This logic makes the YO YO exit very effective and we seldom regret being stopped out whenever this exit is triggered.
And below it:
Quote:Combining the exits: The Yo Yo and the Chandelier exits work best when used together. The Chandelier Exit is typically set at 3 ATRs or more from a high point and never lowered; therefore it will protect us against any gradual reversal of trend. The Yo Yo exit is typically set at only 1.5 to 2.0 ATRs from the most recent close and will protect our position from unusual one day spikes in volatility. When used together the operative stop each day would be whichever of the two stops is closest.
Dueling quotes, hehheh.
I have no opinion on the arguments above yet, but I'd be interested in fooling with them in combination if the YoYo code exists someplace - my searches haven't turned up anything and I'm stupid about MS coding language for the time being so doing it myself is a ways off.
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