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Hello All,
I have some code for a trailing stop which I have written in another
language for another of my software applications.
However, I am now trying to convert this code to MS but am having
some serious difficulties :-(
The code:
Factor= AverageTrueRange[10](close)*2.5
BuyStop = CLOSE - Factor
IF BuyStop > BuyStop[1] THEN
IF CLOSE > CLOSE[1] THEN
BuyStop = CLOSE - Factor
ELSE
BuyStop = BuyStop[1]
ENDIF
ELSE
IF CLOSE > BuyStop[1] THEN
BuyStop = BuyStop[1]
ELSE
BuyStop = CLOSE - Factor
ENDIF
ENDIF
RETURN BuyStop
Basically, what I want to achieve is as follows:
- As the price closes higher the stop moves up and remains at "close-
AverageTrueRange[10](close)*2.5" distance below current bar.
- If the price fails to make new highs but remains above yesterdays
stop level, then the stop moves horizontal for the next period ie.
Remains at same level as yesterday
- Once the closing price drops below the current stop level, the stop
resets itself at the next bar to "close-AverageTrueRange[10](close)
*2.5"
Any Help much appreciated....
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