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Average True Range to create Stops

danmsea · 2023-01-04T21:50:10+00:00

Hello, I’m new to this. The strategy I want to backtest through automatic trading is fairly simple. I want to know how to set up a stop loss which is 2x the average true range reading of the entry candle. For example, when the 10 EMA crosses over the 150EMA, and at the candle close, the ATR reading is 8. I would like a stop loss of 16 points under the entry. I’m not sure if this is simple or not but if someone could help me that would be great. Thanks Dan

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Average True Range to create Stops

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01/04/2023 at 10:50 PM #206805 quote

danmsea
Participant

New

Hello,

I’m new to this. The strategy I want to backtest through automatic trading is fairly simple. I want to know how to set up a stop loss which is 2x the average true range reading of the entry candle.

For example, when the 10 EMA crosses over the 150EMA, and at the candle close, the ATR reading is 8. I would like a stop loss of 16 points under the entry.

I’m not sure if this is simple or not but if someone could help me that would be great.

Thanks

Dan

01/05/2023 at 10:36 AM #206813 quote
robertogozzi
Moderator

Legend
There you go:
```
IF MyLongConditions THEN
   MyATR = AverageTrueRange[14](close)
   BUY AT MARKET
   SET STOP LOSS MyATR * 2
ENDIF
```
danmsea thanked this post
01/05/2023 at 3:35 PM #206835 quote

danmsea
Participant

New

Legend thanks!
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Average True Range to create Stops

ProOrder: Automated Strategies & Backtesting

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danmsea @danmsea Participant

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This topic contains 2 replies,
has 2 voices, and was last updated by danmsea
3 years, 9 months ago.

Topic Details

Forum:	ProOrder: Automated Strategies & Backtesting
Language:	English
Started:	01/04/2023
Status:	Active
Attachments:	No files

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Average True Range to create Stops

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Average True Range to create Stops ProOrder: Automated Strategies & Backtesting

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Average True Range to create Stops

ProOrder: Automated Strategies & Backtesting