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In plotting this indicator, it seems it DOES move down...not level.
Following with interest.
Claud
pumrysh wrote:
>Chorlton,
>
>Something like this?
>
>stop := Mov(C,10,E)-2*(ATR(10));
>If(stop > Ref(stop,-1),stop,prev);
>
>Preston
>
>
>
>--- In equismetastock@xxxxxxxxxxxxxxx, "chorlton_c_hardy"
><micro_dot_uk@xxx> wrote:
>
>
>>--- In equismetastock@xxxxxxxxxxxxxxx, "chorlton_c_hardy"
>><micro_dot_uk@> wrote:
>>
>>
>>>Hello All,
>>>
>>>I want to code a specific indicator but not sure how to even
>>>
>>>
>begin
>
>
>>>coding it :-(
>>>
>>>Basically, I want to add a moving line to my price chart which
>>>
>>>
>will
>
>
>>>act as a stop loss.
>>>
>>>This new line (called "Stop Line") should be 2 x the Average
>>>
>>>
>True
>
>
>>>Range (ATR) below price (close). As price moves upwards, this
>>>
>>>
>new
>
>
>>>line should be recalculated using the next days price (close)
>>>
>>>
>and
>
>
>>its
>>
>>
>>>ATR.
>>>
>>>However, if the price declines, the "Stop Line" should remain at
>>>
>>>
>>the
>>
>>
>>>previous level and NOT be recalculated. In other words,
>>>
>>>
>the "Stop
>
>
>>>Line" should only move upwards or horizontal but never downwards.
>>>
>>>Once price crosses back below the "Stop Line", the line should
>>>
>>>
>>then
>>
>>
>>>be "reset" and return to 2 x ATR below current price (close).
>>>
>>>In summary:
>>>
>>>1. "Stop Line" is calculated as: Current close - 2x Average
>>>
>>>
>True
>
>
>>>Range (ATR)
>>>2. On the next day: If close is higher than previous day, then
>>>repeat step 1, else keep current value ie. "Stop Line" moves
>>>horizontal at same value from previous day
>>>3. Repeat step 2, until close < "Stop Line"
>>>4. Once close < "Stop Line", return to step 1
>>>
>>>Any help much appreciated,
>>>
>>>Many Thanks....
>>>
>>>CCH
>>>
>>>
>>>
>>I forgot to add that the lookback period for the ATR should be
>>
>>
>10....
>
>
>>Thanks once again......
>>
>>
>>
>
>
>
>
>
>Yahoo! Groups Links
>
>
>
>
>
>
>
[Non-text portions of this message have been removed]
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