meta stock trailing stops.

[Allan]

can any one help on this please, I need to get trailing stops on my charts, the 11xATR that Phaedrus uses seems to be better than the trailing stop x%, that I can get using a MA, with X% bands. A one size fits all is what I'm after.
Thanks, Allan.

[trendy]

Try this

{ Triggers: Long (+1) & Short (-1) signals at crossover of user-defined trailing stops }{ x23 slower than TradeSim's version }{ ©Copyright 2003-2004 Jose Silva }{ josesilva22@yahoo.com }

buffer:=Input("buffer % trailing stop",0,100,8);
plot:=Input("plot: trailing stop=1, Long+Short=2, signals=3",1,3,1);
adv:=Input("plot: today's trailing stop=0, tomorrow's stop=1",0,1,0);
delay:=Input("Entry and Exit signal delay",
0,5,0);

StLong:=C-C*buffer/100;
StShort:=C+C*buffer/100;
stopLong:=If(C<PREV,StLong,Max(StLong,PREV));
stopShort:=If(C>PREV,StShort,Min(StShort,PREV)) ;

In:=Cross(C,Ref(stopShort,-1));
Out:=Cross(Ref(stopLong,-1),C);
Init:=Cum(In+Out>-1)=1;
InInit:=Cum(In)=1;
flag:=BarsSince(Init OR In)
< BarsSince(Init OR Out)+InInit;
signals:=Ref((InInit AND Alert(InInit=0,2)
OR flag AND Alert(flag=0,2))
-(flag=0 AND Alert(flag,2)),-delay);
stop:=Ref(If(flag=1,stopLong,stopShort),-1+adv);

If(plot=1,stop,
If(plot=2,Ref(stopLong,-1+adv),0));
If(plot=1,stop,
If(plot=2,Ref(stopShort,-1+adv),signals))

[Phaedrus]

Allan,
When you start looking for "one size fits all" you have to be prepared to give something up - things such as suitability, fit and relevance. A bit like clothes really! Don't waste too much time looking for the ideal indicator(s). Each and every one has its strengths and weaknesses. Concentrate on learning as much as you can about these characteristics and you will gain a clearer understanding of the "size"(s) required for any particular purpose or stock.

A MetaStock formula for a simple fixed percentage trailing stop is :-
HHV(C,xxx)*.9
where xxx is the look-back period and 0.9 is a 10% stop. 0.85 would give a 15% stop for example. Just set this up as a new indicator using the "Indicator Builder" function.

You can get all the info you need about ATR (Average True Range) trailing stops at :- http://www.tradernexus.com/advanceds...ancedstop.html

[arco]

Allan

Another SL method you could look at is CBL's (Guppy)

http://trader.online.pl/MSZ/e-w-Coun...own_Trend.html

arco

[Allan]

One thousand thankyous Guys, this has helped no end, I also only do stops on end of day data now, which helps avoid the slit your wrists feeling of losing something on a intra day low, only to see....arrrgh!
Thanks again
Allan