Help to draw a line under the price as a kind of visual stoploss line

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  • 09/02/2019 at 3:23 PM #106238 quote
    Tradeplan
    Participant
    New

    Hello everyone.

    First of all, thanks for a great forum. I’ve been snooping around the last month looking at different post, and I really like the tone in the post.

    I have studied Technical Analysis for the past two years, when time was for it (yep, got small kids) and been trying different platforms. But it’s difficult to find a platform supporting Nordic stocks. I’m a novice regarding trading/investing and coding. I see myself as patient 😉 though I must admit that I’m stuck.

    I’ve read through the forum and programming guide, but my skills are not sufficient enough :/

    The code I would like help to converted is as follows:

    (Metastock non-logical language)

    Lower line = If(LinearReg(C,13)>PREV,If(LinearReg(C,13)-(ATR(13)*2.5)>PREV,LinearReg(C,13)-(ATR(13)*2.5),PREV),LinearReg(C,13));

    This is supposed to draw a line under the price as a kind of visual stoploss line, but not trigger the stoploss function (only as a visual guidance).

    I think the solution lies within page 17 in the probuilder guide (Bar index example), I just can’t figure it out :/ Thanks in advance! /Tradeplan

    09/02/2019 at 4:06 PM #106243 quote
    Nicolas
    Keymaster
    Master
    Hi TradePlan, thanks for your good feedback about what happens here 🙂 I changed the topic title, please try to write something relevant regarding the discussion next time, otherwise we’ll get hundreds of “help with probuilder” topics.. 🙄 Your stoploss line code from Metastock could be translated as follow: 
    //Lower line = If(LinearReg(C,13)>PREV,If(LinearReg(C,13)-(ATR(13)*2.5)>PREV,LinearReg(C,13)-(ATR(13)*2.5),PREV),LinearReg(C,13));

lr = LinearRegression[13](close)
i=lr-averagetruerange[13]*2.5

if lr>lowerline[1] then 
if i>lowerline[1] then
lowerline=i
else
lowerline=lowerline[1]
endif
else
lowerline=lr
endif

return lowerline
    I have nothing to compare with, but it should do the trick. This SL line is only for long order as it seems.
    Tradeplan thanked this post
    stoploss-line-indicator.png stoploss-line-indicator.png
    09/03/2019 at 8:07 AM #106312 quote
    Tradeplan
    Participant
    New
    Thank you very much Nicolas for the quick reply! It works perfect! I’ve taken notice regarding the headline suggestion 😉 Thanks again.
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Help to draw a line under the price as a kind of visual stoploss line


ProBuilder: Indicators & Custom Tools

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Tradeplan @tradeplan Participant
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This topic contains 2 replies,
has 2 voices, and was last updated by Tradeplan
6 years, 5 months ago.

Topic Details
Forum: ProBuilder: Indicators & Custom Tools
Language: English
Started: 09/02/2019
Status: Active
Attachments: 1 files
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