Many people have helped me on this forum, so I am very happy to
offer my first answer!
You could try something like this.
It draws a non-retreating line 3xATR(30) below daily Close price.
It only retreats if the Close falls through the line.
It shows potential stop loss points with a red downward arrow.
// plot non-retreating 3xATR(30) below daily Close, as an exit line
AT = 3 * ATR(30);
AT2 = 0;
for (i=1;i<BarCount; i++) // start from 1 because we address [i-1]
{
// create a line 3xATR below daily Close
AT2[i] = Close[i] - AT[i];
// don't retreat
if (AT2[i] < AT2[i-1])
AT2[i] = AT2[i-1];
// but follow Close if necessary
if (Close[i] <= AT2[i])
AT2[i] = Close[i];
}
Plot(C, "OHLC", colorBlack, styleBar);
Plot(AT2, "Non-descending 3xATR(30) below Close", colorBlue);
PlotShapes(shapeDownArrow*(Close <= AT2), colorRed);
-Andrew
------------------------
--- In [email protected], "amickan1958" <[EMAIL PROTECTED]> wrote:
>
> Hi,
>
> I've been trying to crack this one but can't seem to. What I need
is a
> plot of my trailing stop. The stop is based on a multiplier of
todays
> ATR(30) value. This stop only ever increase.
>
> Can anyone help me out with some code please?
>
> Thanks
>
> Andrew
>
