trailing stop loss - BullCharts

Hi again

I asked a question last night, but reading it now I don't think anyone would have quite got what i was asking. I have been unable to work out how to put my own trailing stop loss in my charts. can anyone guide me through the right process

slips

Here is an indicator to play around with. I developed it some time ago when I read a Michael Jenkins article where he used the square root theory to set stop loss levels but I discarded Sq roots method as it did not seem to work too well on some low value dollar ASX stocks.

Instead, this indicator attempts to show whether a stop loss based on the settings for a number of ATRs is more conservative than a % stop set by the user. It is interesting as once set the more conservative solution changes from time to time as shown by the colour fills and some markers. A variable requires the indicator to be set for Longs or shorts.

[target

=Price;]

n :=

input("Time periods for highest high",15);

type :=

input("Is this Stop for 1 Long or 2 Short",1);

sl :=

input("percent for Stop Loss",6);

LongPercent:=

If(type=1,Highest(h,n)-((sl/100)*C),undefined);

[color

=Dark Gray; linestyle=Dotted; width=2;]

LongPercent;

S2 :=

input("No. of ATRs for Stop Loss",2);

LongATR:=

If(type=1,Highest(h,n)-(atr(n)*s2),undefined);

[color

= Dark Purple; linestyle=Dotted; width=2;]

LongATR;

{ Fill }

[name

=Fill; linestyle=fill; visible=false]

[color

= Dark Gray] LongPercent;

[color

= Dark Purple] LongATR;

[name

=% Set more conservative; linestyle=marker; marker=type1; visible=no] [tooltip="% Set more conservative"]

cross

(LongPercent, LongATR);

[name

=ATR set more conservative; linestyle=marker; marker=type1; visible=no] [tooltip="ATR set more conservative"]

cross

(LongATR, LongPercent);

shortPercent:=

If(type=2,Lowest(l,n)+((sl/100)*C),undefined);

[color

=Dark Gray; linestyle=Dotted; width=2;]

ShortPercent;

ShortATR:=

If(type=2,Lowest(h,n)+(atr(n)*s2),undefined);

[color

= Dark Purple; linestyle=Dotted; width=2;]

ShortATR;

{ Fill }

[name

=Fill; linestyle=fill; visible=false]

[color

= Dark Gray] ShortPercent;

[color

= Dark Purple] ShortATR;

[name

=% set more conservative; linestyle=marker; marker=type1; visible=no] [tooltip="% set more conservative"]

cross

(ShortPercent, ShortATR);

[name

=ATR set more conservative; linestyle=marker; marker=type1; visible=no] [tooltip="ATR set more conservative"]

cross

(ShortATR, ShortPercent);

BC User since June 2007

Author	Message / View First Unread Post Share Topic Printable Version Delicious Digg Facebook Furl Google Boomarks Google Buzz MySpace Newsvine reddit StumbleUpon Translate Twitter Windows Live Yahoo Bookmarks Topic Search Topic Options Post Reply Create New Topic
slips Members Profile Send Private Message Find Members Posts Add to Buddy List Regular Joined: 20 Oct 2009 Posts: 21	Post Options Post Reply Quote slips Report Post Quote Reply Topic: trailing stop loss Posted: 04 Mar 2011 at 1:26pm
	Hi again I asked a question last night, but reading it now I don't think anyone would have quite got what i was asking. I have been unable to work out how to put my own trailing stop loss in my charts. can anyone guide me through the right process slips
	slips

maximo Members Profile Send Private Message Find Members Posts Add to Buddy List BullCharts Guru Joined: 02 Sep 2006 Location: Australia Posts: 232	Post Options Post Reply Quote maximo Report Post Quote Reply Posted: 04 Mar 2011 at 9:32pm
	Hello slips, What kind of stop loss did you want to use, example. ATR or percentage or another?

cmacdon Members Profile Send Private Message Find Members Posts Add to Buddy List BullCharts Guru Joined: 09 Sep 2012 Location: Brisbane Posts: 236	Post Options Post Reply Quote cmacdon Report Post Quote Reply Posted: 16 Sep 2012 at 6:26am
	Here is an indicator to play around with. I developed it some time ago when I read a Michael Jenkins article where he used the square root theory to set stop loss levels but I discarded Sq roots method as it did not seem to work too well on some low value dollar ASX stocks. Instead, this indicator attempts to show whether a stop loss based on the settings for a number of ATRs is more conservative than a % stop set by the user. It is interesting as once set the more conservative solution changes from time to time as shown by the colour fills and some markers. A variable requires the indicator to be set for Longs or shorts. [target =Price;] n := input("Time periods for highest high",15); type := input("Is this Stop for 1 Long or 2 Short",1); sl := input("percent for Stop Loss",6); 　 LongPercent:= If(type=1,Highest(h,n)-((sl/100)C),undefined); 　 [color =Dark Gray; linestyle=Dotted; width=2;] LongPercent; S2 := input("No. of ATRs for Stop Loss",2); LongATR:= If(type=1,Highest(h,n)-(atr(n)s2),undefined); [color = Dark Purple; linestyle=Dotted; width=2;] LongATR; { Fill } [name =Fill; linestyle=fill; visible=false] [color = Dark Gray] LongPercent; [color = Dark Purple] LongATR; [name =% Set more conservative; linestyle=marker; marker=type1; visible=no] [tooltip="% Set more conservative"] cross (LongPercent, LongATR); [name =ATR set more conservative; linestyle=marker; marker=type1; visible=no] [tooltip="ATR set more conservative"] cross (LongATR, LongPercent); shortPercent:= If(type=2,Lowest(l,n)+((sl/100)C),undefined); 　 [color =Dark Gray; linestyle=Dotted; width=2;] ShortPercent; 　 ShortATR:= If(type=2,Lowest(h,n)+(atr(n)s2),undefined); [color = Dark Purple; linestyle=Dotted; width=2;] ShortATR; { Fill } [name =Fill; linestyle=fill; visible=false] [color = Dark Gray] ShortPercent; [color = Dark Purple] ShortATR; [name =% set more conservative; linestyle=marker; marker=type1; visible=no] [tooltip="% set more conservative"] cross (ShortPercent, ShortATR); [name =ATR set more conservative; linestyle=marker; marker=type1; visible=no] [tooltip="ATR set more conservative"] cross (ShortATR, ShortPercent);
	BC User since June 2007