Rank: Member
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Joined: 6/20/2005(UTC)
Posts: 10
Location: Perth, Australia
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Hi,
A common ATR trailing stop for long positions states HHV (H - 2.5*ATR (5), 10). Instead of looking back for the highest High of the last 10 bars, I would like to program an exit which is looking for the highest High since my entry.
Is this actually possible? I was told that this is one of metastock's limitations since it doesn't have a memory.
I tried the following formula which wasn’t very successful…
Entry:= C>Mov(s,5s);
L < (HighestSince( 1, entry, H ) - 2.5*ATR(5))
I hope someone can help me.
Cheers
:P
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Rank: Advanced Member
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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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Have you had a look at Richard Dale's excellent and free trailing stop loss indicator? It might save you from having to code anything at all!
It available here : http://www.tradernexus.com/
wabbit :D
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Rank: Member
Groups: Registered, Registered Users
Joined: 6/20/2005(UTC)
Posts: 10
Location: Perth, Australia
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Thanks. That's a great website!
:D
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