Thanks for the answer none. Well it is not random going back in time when indices was much lower you could see that for example a distance of 5 could have MFE for example 50 euro and be a win still. But when indicies or the market has 2x that price the MFE tends to higher to make it a win (easily checked in bt). And btw.. I use it with atr distances > 10 also.
grahal I run it on all tf basicly but I have noticed it is less robust with fewer trades and when the most trades are for example at a much lower level and the market has gone up much recently. As it would require a much higher MFE which does not seem logical to me.
I must add does not seem logical to me and robust that way? But still it is the best trailingstop in times of results (gain, drawdown, losses).
This type of atr trailing would be really good I think with scale with time acceleration (the longer time in market a bigger step). Because I run this on 1 hour tf also. Let say a system consolidates and you are at 1000 euro gain. Then ts wont move and after x days the system is still open with same gain and stoploss. That both costs money (overnight fees etc.) and maybe the entry that was taken days ago is not so validate anymore.
You can increase your trailing stop by an additional X pips every N bars on market:
Once N = 50 //50 bars
Once X = 20 * PipSize //20 pips
Once M = 1.10 //1.10 multiplier
MyTrailingStop = …
.
.
If OnMarket and (((BarIndex - TradeIndex) MOD N) = 0) then
MyTrailingStop = MyTrailingStop + X
//MyTrailingStop = MyTrailingStop * M
Endif
I also included a MULTIPLIER line, instead of a constant value. You can choose between the two.
thanked this post
Once N = 50 //50 bars
Once X = 20 * PipSize //20 pips
Once M = 1.10 //1.10 multiplier
MyTrailingStop = atrtrail
If OnMarket and (((BarIndex - TradeIndex) MOD N) = 0) then
MyTrailingStop = MyTrailingStop + X
Endif
ONCE trailingStopType = 1
ONCE trailingstoplong = 10
ONCE trailingstopshort = 6
ONCE atrtrailingperiod = 100
ONCE minstop = 1
atrtrail = AverageTrueRange[atrtrailingperiod]((close/10)*pipsize)/1000
trailingstartl = round(atrtrail*trailingstoplong)
.... goes on with my stop posted.
Where am I doing wrong here?
Firstly you have to reference any variable AFTER it’s been defined (the code is executed sequentially), as atrtrail has not yet been defined in line 4.
Secondly, if you write line 4 that way, you’ll always change it’s value each bar, thus making increases vanish. You should make sure it NEVER drops (if LongOnMarket) below the previous one:
MyTrailingStop = max(atrtrail,MyTrailingStop) //LONG side
MyTrailingStop = min(atrtrail,MyTrailingStop) //SHORT side
Okay, how should it be correctly implemented with original ts posted from start of thread?
There you go:
/*
beyond adding the above lines, I also changed it a bit to make sure it never drops (when LongOnMarket) or rises (when ShortOnMarket) compared to the currently retained value
*/
if not OnMarket then
if close crosses over average[100] then
buy at market
elsif close crosses under average[100] then
sellshort at market
endif
endif
set stop ploss 250
set target pprofit 500
ONCE trailingStopType = 1
ONCE trailingstoplong = 10
ONCE trailingstopshort = 6
ONCE atrtrailingperiod = 100
ONCE minstop = 1
Once N = 5 //5 bars
Once X = 5 * PipSize //5 pips
Once M = 1.10 //1.10 Long multiplier
Once P = 0.90 //0.90 Short multiplier
atrtrail = AverageTrueRange[atrtrailingperiod]((close/10)*pipsize)/1000
trailingstartl = round(atrtrail*trailingstoplong)
trailingstartS = round(atrtrail*trailingstopshort)
if trailingStopType = 1 THEN
TGL =trailingstartl
TGS=trailingstarts
if not onmarket then
MAXPRICE = 0
MINPRICE = close
PREZZOUSCITA = 0
ENDIF
if longonmarket then
MAXPRICE = MAX(MAXPRICE,close)
if MAXPRICE-tradeprice(1)>=TGL*pointsize then
if MAXPRICE-tradeprice(1)>=MINSTOP then
PREZZOUSCITA = max(MAXPRICE-TGL*pointsize,PREZZOUSCITA)
ELSE
PREZZOUSCITA = max(MAXPRICE - MINSTOP*pointsize,PREZZOUSCITA)
ENDIF
If ((BarIndex - TradeIndex) MOD N) = 0 then
PREZZOUSCITA = PREZZOUSCITA + X
//PREZZOUSCITA = PREZZOUSCITA * M
Endif
ENDIF
ENDIF
if shortonmarket then
MINPRICE = MIN(MINPRICE,close)
if tradeprice(1)-MINPRICE>=TGS*pointsize then
IF PREZZOUSCITA = 0 THEN
PREZZOUSCITA = 9999999 //make sure there's a value large enough to be later used with MIN()
ENDIF
if tradeprice(1)-MINPRICE>=MINSTOP then
PREZZOUSCITA = min(MINPRICE+TGS*pointsize,PREZZOUSCITA)
ELSE
PREZZOUSCITA = min(MINPRICE + MINSTOP*pointsize,PREZZOUSCITA)
ENDIF
If ((BarIndex - TradeIndex) MOD N) = 0 then
PREZZOUSCITA = PREZZOUSCITA - X
//PREZZOUSCITA = PREZZOUSCITA * P
Endif
ENDIF
ENDIF
if onmarket and PREZZOUSCITA>0 then
EXITSHORT AT PREZZOUSCITA STOP
SELL AT PREZZOUSCITA STOP
ENDIF
ENDIF
graphonprice PREZZOUSCITA coloured(255,0,0,255)
Lines 1-3 are the newly supported multi-line comments. The “ADD PRT CODE” button doesn’t recognize them yet (ProOrder does, though), but will be updated asap.
Thanks alot for that!!
variabel N is number of bars it has gone when trailing has started (correct?) or is it when algo has entried?
Either one, it would be good testing the other one.
Example 1. count bars from entry (if trailing has started and it has gone like x bars on 1hour chart maybe the trade just got lucky and would be better to close faster as trailing has kicked in)
Example 2. count bars from trailing (if trade was not “lucky” but has been a long time in trailing phase but not proceed)
Which one is the code above and how can I change it to the other one.
Good questions and good ideas!
I read ‘N’ as number of bars since trade entry without Trailing Stop started and so … get out quick with small profit as ExitPrice + X?
This TS is getting better all the time and I am making myself learn stuff as I go along … onward and upward!!! 🙂
Let’s see what Roberto has to say?
thanked this post
N is related to the start of the trade (TradeIndex). A difference is then computed each bar, with the current BarIndex, to detect when it reaches a multiple of N (I set it to 5, but yoyu can set it to any value, if yoy set it to, say, 99999 it will automatically be disabled, as it’s such a huge number that it will not easily reach a multiple of it!), each time that occurs it’s an increase of your trailing stop.
Use GRAPH extensively to spot values and expressions:
graph BarIndex
graph TradeIndex
graph (Barindex - TradeIndex) MOD N
Ok so if I put for example 5 to N
and X to 5.
Does this mean after 5 bars, 5 pips will be added to trailing when its starting? And lets say after 20 bars.. and trailing has not started, when its starts it is going to add 5×20=100 pips to it and so on?
If it is like that there will not be a possiblity to get it better? Because finding a combination that suits N and X would be almost impossible? Then it would be better to just after ANY bars close trade.
..
I hope it works like this: If I put N to 5 it counts the bars and X is started FIRST when trailing is started (which I guess how it will work also)? And then X (in pips will be added each time trailing updates in this case 1hour timeframe)
