I have been attempting to plot a maximum loss stop line following the code for plotting a trailing stop provided by TJ in the Knowledge base:
http://www.amibroker.com/kb/2007/03/24/how-to-plot-a-trailing-stop-in- the-price-chart/ My code follows, unfortunately it doesn't work! I have used ticks for max loss allowed instead of percentages. I also wanted a system that would accomodate either long or short sales. ////////////////////////Code begins///////////////////////////// StopLevelticks = Param("stoplevel ticks", 3, 0, 20, 1 ); stoplevelpoints = stoplevelticks*TickSize; SetTradeDelays(0,0,0,0); Buy = Cross( MACD(), Signal() ); Short = Cross(Signal(), MACD() ); Sell = 0; Cover = 0; ApplyStop( stopTypeLoss, stopModePoint, StopLevelpoints, True ); Equity( 1, 0 ); // evaluate stops, all quotes InTradelong = Flip( Buy, Sell ); InTradeshort = Flip( Short, Cover ); SetOption("EveryBarNullCheck", True ); stoplinelong = IIf( InTradelong, ValueWhen( Buy, BuyPrice) - stoplevelpoints , Null ); stoplineshort = IIf( InTradeshort, ValueWhen( Short, ShortPrice) + stoplevelpoints , Null ); PlotShapes(Buy*shapeUpArrow,colorBrightGreen,0,Low); PlotShapes(Short*shapeDownArrow,colorRed,0,High); PlotShapes(Cover*shapeHollowUpArrow,colorBrightGreen,0,Low); PlotShapes(Sell*shapeHollowDownArrow,colorRed,0,High); SetBarFillColor( IIf( C > O, colorBrightGreen, colorRed ) ); Plot( Close,"Price",colorWhite,styleCandle); Plot( stoplinelong, "maxloss line long", colorBrightGreen ); Plot( stoplineshort, "maxloss line short", colorRed ); //////////////////////////Code Ends///////////////////////////////// Converting TJ's code from a trailing stop to a maximum loss stop and getting the functionality to handle shorts proved to be be more difficult than I had anticipated. I would appreciate any help in clearing up the problems in the code above. Thanks in advance, Grover Yowell
