Rank: Newbie
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Joined: 11/22/2010(UTC)
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Hello All,
I am looking to create an expert/indicator which will tell me since I've entered the trade how much I'm loosing from the equity peak (drawdown).
From concept point of view I know what I want but struggling to code it in MS
This is the logic I’m thinking
(Equity High – Equity Low)/Equity High > 20%
From me since I enter the trade I would like to code something like this
(Recent highset close since the trade is entered – today’s close)/ Recent highset close since the trade is entered > 20%
I will appreciate if you can provide some help here. I just want to see if it is worth applying a secondary stop (first is ATR based).
Thanks in advance,
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Your indicator would have to employ a logical switch similar to the type used in the PS experts and system tests. This would let you track when a trade started and ended. From there you could use HighestSince() to get the best close since the most recent trade started.
To actually use this in a stop calculation would require expanding the logical switch to track the best price instead of just noting if you were in a trade or not. If you submit a request to our formula support team, they will be able to help you with that coding.
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Rank: Newbie
Groups: Registered, Registered Users
Joined: 11/22/2010(UTC)
Posts: 7
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MS Support wrote:Your indicator would have to employ a logical switch similar to the type used in the PS experts and system tests. This would let you track when a trade started and ended. From there you could use HighestSince() to get the best close since the most recent trade started.
To actually use this in a stop calculation would require expanding the logical switch to track the best price instead of just noting if you were in a trade or not. If you submit a request to our formula support team, they will be able to help you with that coding.
Thanks MS Support, I'll be in touch with the formula support team.
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