Ah yes the MFE Trail will not get you out of Trade like a Trailing Stop … you need a stop loss or a Trailing Stop also.

The MFE Trail follows / trails the Max Favourable Excursion / MFE so that a Trade that was in profit does not end up a losing Trade having not reached it’s Profit Target (as we all have had happen to us and it’s  maddening! ).

So yeah you need an MFE Trail and a normal PRT Stop Loss or PRT  Trailing Stop.

Even Nicolas other Trailing Stop (link below) will not act as a Stop Loss in the first period after Trade opens because it needs at least one full period to become operational (I think?).

https://www.prorealcode.com/blog/trading/complete-trailing-stop-code-function/

Hope that Helps?
GraHal

Yes I agree it is confusing DEIO, it would be better if it is called  Trailing Gain with the Max Favorable Excursion (MFE)

And better if the term Trailinggain is used in the code instead of Trailingstop?

I look forward to your latest code
GraHal

Hi Jan, it’s not my Strategy, it’s DEIO’s … he’s doing all the work.

Yes I agree, ignore the early in period poor performance. Often anyway it just looks worse as it shows a below zero equity curve, but there can be just as much drawdown later on but it’s not so obvious as it’s hidden amongst profits above the zero line?

I usually click on several variable values in the Table of Results and compare equity curves … you can get surprising differences, some more as you describe with less of an early in period drawdown.    

Cheers
GraHal

GraHal wrote:

Might you consider a Short version?

And here is the LONG / SHORT version!

//———————————————————————————————-
//———————————————————————————————-
//WALL STREET BUY/SELL v1.0
// 6 MIN.

DEFPARAM cumulateorders = FALSE
CONDAVGbull = 1
CONDAVGbear = 1
AVG = Average[S](close)

FOR C = 1 TO F
IF AVG[C-1] > AVG[C] THEN
IF CONDAVGbull = 1 THEN
CONDAVGbull = 1
ENDIF
ELSE
CONDAVGbull = 0
ENDIF
NEXT
FOR C = 1 TO F
IF AVG[C-1] < AVG[C] THEN
IF CONDAVGbear = 1 THEN
CONDAVGbear = 1
ENDIF
ELSE
CONDAVGbear = 0
ENDIF
NEXT
TIMEWORK = 000000
TIMESTOP = 240000
F = 20
S = 200

MFIFAST = MoneyFlowIndex[F]
MFISLOW = MoneyFlowIndex[S]

BASEMFIbull = MFISLOW[0] > MFISLOW[F] AND MFISLOW[0] > MFISLOW[ROUND(F/2)] AND MFISLOW[0] > MFISLOW[ROUND(F/F)]
CONDMFILbull = MFIFAST[0] CROSSES OVER MFISLOW[0]
BASEMFIbear = MFISLOW[9] < MFISLOW[F] AND MFISLOW[7] < MFISLOW[ROUND(F/2)] AND MFISLOW[0] < MFISLOW[ROUND(F/F)]
CONDMFILbear = MFIFAST[1] CROSSES UNDER MFISLOW[1]

trail = ROUND(CLOSE/300) * PIPSIZE
firstpriceexitbull = tradeprice(1) - trail
firstpriceexitbear = tradeprice(1) + trail
trailingstop = round(trail / 3)

SIZEBUY = 1
SIZESELL = 1

if not onmarket then
MAXPRICE = 0
MINPRICE = 0
priceexitbull = 0
priceexitbear = 0
firststopbull = 0
firststopbear = 0
endif

IF CURRENTTIME >= TIMEWORK AND TIME <= TIMESTOP THEN
if not onmarket THEN
IF CONDMFILbull AND BASEMFIbull AND CONDAVGbull THEN
BUY sizebuy SHARES AT highest[F](HIGH) STOP
endif
ENDIF
endif

IF CURRENTTIME >= TIMEWORK AND TIME <= TIMESTOP THEN
if not onmarket THEN
IF CONDMFILbear AND BASEMFIbear AND CONDAVGbear THEN
SELLSHORT sizesell SHARES AT lowest[F](LOW) STOP
endif
ENDIF
endif

if longonmarket then
if firststopbull = 0 then
priceexitbull = firstpriceexitbull
firststopbull = 1
endif
MAXPRICE = MAX(MAXPRICE,close) //saving the MFE of the current trade
if MAXPRICE-tradeprice(1)>=trailingstop*pointsize then //if the MFE is higher than the trailingstop then
priceexitbull = MAXPRICE-trailingstop*pointsize //set the exit price at the MFE - trailing stop price level
endif
endif
if shortonmarket then
if firststopbear = 0 then
priceexitbear = firstpriceexitbear
firststopbear = 1
endif
MINPRICE = MIN(MINPRICE,close) //saving the MFE of the current trade
if tradeprice(1)-MINPRICE>=trailingstop*pointsize then //if the MFE is lower than the trailingstop then
priceexitbear = MINPRICE+trailingstop*pointsize //set the exit price at the MFE + trailing stop price level
endif
endif
//GRAPH TRADEPRICE(1)
if longonmarket and priceexitbull>0 then
//graph priceexit AS "PRICEEXIT"
SELL AT priceexitbull stop
endif
if shortonmarket and priceexitbear>0 then
//graph priceexit AS "PRICEEXIT"
EXITSHORT AT priceexitbear stop
endif

Good trades!

Gertrade