Rank: Newbie
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Joined: 10/5/2006(UTC)
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Hello Friends
I have created one exploration where i would generate a buy signal if the 3 day moving avarage is higher than 9 day and 12 day and also ADX is above 20 to be in trending market and +DI Greater than -DI if all parameters is met then enter the long trade. code is some what like this
(Mov(CLOSE, 3, S)> Mov(CLOSE, 9, S) and Mov(CLOSE, 3, S)> Mov(CLOSE, 12, S))and ADX(14) > 20 and DX( 14 ) >MDI( 14 )
For my stop loss i have tried various options but failed to get proper results the only best results i have got was when i used the trailing stop loss option (This is when i was doing back testing the formula) and trailing stop loss gave me only profit deals and no loss deals over a 200 period.
I tried to write a trailing stop loss but ended up from wher i started only.
I would request expirenced people in this forum to let me know the following
1. Is my buy exploration correct or can it be bettered in any way by adding some other indicators.
2. what will be the best stop loss formula for this buy signal.
3. What will the exploration code for the trailing stop loss.
I would appreciate if one of you can help me in this problem.
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers, Unverified Users
Joined: 10/28/2004(UTC)
Posts: 3,111
Location: Perth, Western Australia
Was thanked: 16 time(s) in 16 post(s)
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sashikanth Welcome to the Forum. sashikanth wrote:1. Is my buy exploration correct or can it be bettered in any way by adding some other indicators. You are basically asking, "What is the best indicator?" There is no answer to this holy-grail question. The only truth is that there is a combination of none or more indicators that suits you and your trading style, investment strategy and risk profile. We cannot answer this question for you, you have to find the answer yourself through trial and error and some very careful research and testing. sashikanth wrote:2. what will be the best stop loss formula for this buy signal. See the response above the 'best' definition. sashikanth wrote:3. What will the exploration code for the trailing stop loss. You will notice in the top right side of the Forum web page there is a small text box where you can enter a search criteria. Enter the words, "trailing stop" (without the quotes) and press enter. There have been many Forum discussions on the coding and use of trailing stops, maybe one of these discussions will answer your problem. If it doesn't then post again and I am sure someone will have a look at your specific problem. Good luck with your trading, wabbit [:D]
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