Rank: Newbie
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Joined: 2/19/2007(UTC)
Posts: 1
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Rahul recommended using the Exit Swing Signal as a possible trailing stop for aggressive / real time trades.
Rather than trying to look at 4 separate windows using the RMO System, is it possible to convert the Exit Swing Signal into something like a Moving Average that trails the price. Any penetration of this would signal an exit?
Does anyone know how to create?
Thanks
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers
Joined: 3/7/2005(UTC)
Posts: 1,346
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hey imperator..... i'm not sure just what raul is implying with his trailing stop statement...... for a true trailing stop there must be some sort of method to raise the stop as the price moves up..... there is no mention of how to accomplish this..... about all he says is to set the trailing stop at the low of the bar where the exit swing signal falls under 75..... which would in a sense just be a standard non adjusting stoploss.....
that could of course be coded using 'valuewhen' , ref 1 and ref2 of the exit swing...... but you would have to add additional coding to trail.....
you could overlay the exit swing onto the price bars but it's less than ideal...... are you familiar with richards trailing stops..... they seem to be reguarded highly by quite few .......h
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Rank: Member
Groups: Registered, Registered Users
Joined: 5/31/2007(UTC)
Posts: 15
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Hey - just catching up on some of the conversation re: RMO
Did you get an answer to your question re: the Exit Swing Signal? Somewhere within this forum I saw the mention of the the Exit Swing being a variant of the RSI indicator...I made note of the code, see below -
x:=RSI(9);
prd:=7;
smooth:=3;
num:=x-LLV(x,prd);
den:=Max(HHV(x,prd)-LLV(x,prd),0.00001);
ind:=Mov(100*num/den,smooth,S);
{plot/return}
25;75;ind;
it does indeed replicate the Exit Swing Signal, not identical to the 4th decimal place but close enough to trade.
If you can code and transform RSI-type parameters over to an MA-type indicator...pls let me know as I agree that the RMO template does get busy, the more in one window the better!
Good luck[:)]
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