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

Tradeplan · 2019-09-02T14:23:03+00:00

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

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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

Legend
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
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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