Hello GP, Thanks for the reply.
I wasn't really expecting a response but I'm so glad that you did as you have explained it very well. Many Thanks.... On a slightly different topic, as you've already been most helpful, would you have any ideas/opinions with regard to my other recent post entitled SAR Indicator (post # 117994) Once again Thanks, Chorlton --- In [email protected], "gp_sydney" <[EMAIL PROTECTED]> wrote: > > Chorlton, > > The loop code does the same thing as the first three lines, but allows > you to remove extra buy signals as you go so that they don't affect > the sell array (since sell signals are based on the date of buy signals). > > The HighestSince line just says set hsb to the highest value of the > AccDist array since the most recent buy signal (which is where you can > get a problem if there's a new buy signal while you're still holding). > Sell is then the AccDist value dropping more than 10% below that > highest value. Note that hsb is an array in this case. > > The loop is broken into two main cases: when it's not holding already, > and when it is. When it's not holding, it's looking for buy signals. > When it is holding, it removes any more buy signals and just looks for > sell signals. When not holding and a buy signal is encountered, it > changes the state to holding (ie. doHold = True) and sets the highest > AccDist value (hsb) to the current bar's AccDist value. When holding, > it first checks for the current bar's AccDist value being higher than > the highest already recorded, and changes the highest to the new > higher value if so, then checks to see if the current bar's AccDist > value is more than 10% below the currently-recorded highest value. If > so, then that's a sell signal, in which case it sets the Sell array to > True at that bar, and changes the state to not holding (doHold = > False). Note that hsb is a single value in this case, not an array. > > Hope this helps. > > Regards, > GP > > > --- In [email protected], "chorlton_c_hardy" > <chorlton-c-hardy@> wrote: > > > > > > Hello GP, > > > > Thanks for your detailed reply. > > > > Looking at the code posted, I think I will need to refer back to the > > manual just to ensure that I understand what every line of code is > > actually doing, as my programming is pretty basic!!! :-/ > > > > However, I do appreciate your time in posting the answer. > > > > Many Thanks & All the best, > > > > Chorlton > > > > > > > > --- In [email protected], "gp_sydney" <gp.investment@> > > wrote: > > > > > > That's not really a trailing stop, since the AccDist line can fall > > as > > > long as it doesn't exceed your limit. > > > > > > You could try something like: > > > > > > ad = AccDist(); > > > hsb = HighestSince(Buy, ad); > > > Sell = ad < hsb*0.9; > > > > > > Note though that this will be upset by new buy signals before a sell > > > if the AccDist value has dropped somewhat from its highest value > > since > > > the last buy. When you hit a new buy, hsb will then be the highest > > > since that buy, which may be lower than the highest value since the > > > original buy. This could allow AccDist to drop more than 10% from > > the > > > highest value since the original buy without triggering a sell. If > > you > > > want to avoid that, you'd probably need to generate the Sell array > > > iteratively using a loop, removing redundant Buy signals as you go: > > > > > > ad = AccDist(); > > > Sell = False; > > > hsb = 0; > > > doHold = False; > > > for (i = 0; i < BarCount; i++) > > > { > > > if (!doHold) > > > { > > > if (Buy[i]) > > > { > > > doHold = True; > > > hsb = ad[i]; > > > } > > > } > > > else > > > { > > > Buy[i] = False; > > > if (ad[i] > hsb) > > > hsb = ad[i]; > > > if (ad[i] < hsb * 0.9) > > > { > > > doHold = False; > > > Sell[i] = True; > > > } > > > } > > > } > > > > > > Regards, > > > GP > > > > > > > > > --- In [email protected], "chorlton_c_hardy" > > > <chorlton-c-hardy@> wrote: > > > > > > > > Hello All, > > > > > > > > I'm tryin to code a trailing stop loss but am having a number of > > > > problems with writing the code. > > > > > > > > What I'm trying to achieve is: > > > > > > > > 1. Once a Buy signal appears from my system, the value of the > > current > > > > AccDist() Line should be recorded. > > > > > > > > 2. As long as the AccDist() moves upwards the trade should remain > > > > open. > > > > > > > > 3. However, once the AccDist() line falls by a certain percentage > > > > (say 10% for this example) from its Highest value since the trade > > was > > > > opened, the trade should be stopped out. > > > > > > > > I have some code for a simple trailing stop based on the Low of > > the > > > > price (see below) but I'm not sure how to modify it to accomplish > > the > > > > above. > > > > > > > > Any ideas would be most welcome... > > > > > > > > > > > > Initial = LLV(Low,5); > > > > > > > > stop[0] = Close[0]; > > > > for( i = 1 ; i < BarCount; i++) > > > > { > > > > if( Close[i] > stop[i-1]) > > > > { > > > > stop[i] = Max( initial[i], stop[i-1] ); > > > > } > > > > else { stop[i] = initial[i]; } > > > > } > > > > > > > > Plot( stop, " Stop Loss", ParamColor("Color", colorCycle ), > > ParamStyle > > > > ("Style", styleDots | styleNoLine, maskDefault | styleDots | > > > > styleNoLine ) ); > > > > > > > > > > > > Many Thanks in advance, > > > > > > > > Chorlton > > > > > > > > > >
