Hi. I need need help with a indicator. I have managed to make an indicator where a moving average cross over an other moving average. If the shorter moving average is above the longer the indicater shovs 1 and if it is under it shows 0.
If you trade on crossovers it could take a while if your stop loss is when the averages cross over each other in the opposite direction. So I use a stopp loss in percent.
Let say that you want to go long when the short moving average cross over the long average. Then I want an indicater that shows 1 when the loss is 0.2 percent or more. Otherwise it shows 0.
So from the closing price when the short average cross over the long I want the indicator to show 1 as soon as the indicater show a loss of 0.2 percent or more.
I also want an other indicator that shows the opposite if I go short when the shorter average goes below the longer average.
It would be good if i push on configure i could choose between diffrent averages like exponential moving average and other sorts of averages. And you could choose betwen the length of the short and long average. You should also be able to choose how much loss you can accept in percent.
I would be very happy i some one could help me make such an indicator.
JSParticipant
Senior
Hi,
Maybe this is a start…
Once FastPeriod=20 //Fast Period
Once SlowPeriod=40 //Slow Period
Once FastMAType=1 //EMA
Once SlowMAType=4 //Triangular MA
Once PercMaxLoss=0.2 //Max Percentage Loss
FastMA=Average[FastPeriod,FastMAType](Close)
SlowMA=Average[SlowPeriod,SlowMAType](Close)
If FastMA Crosses Over SlowMA then
Long=1
Short=0
CrossPriceLong=Close
EndIf
If Long=1 and(Close/CrossPriceLong - 1)*100<= -PercMaxLoss then
LongSignalPerc=1
Else
LongSignalPerc=0
EndIf
If FastMA Crosses Under SlowMA then
Long=0
Short=1
CrossPriceShort=Close
EndIf
If Short=1 and (1 - Close/CrossPriceShort)*100<= -PercMaxLoss then
ShortSignalPerc=1
Else
ShortSignalPerc=0
EndIf
Return LongSignalPerc as "LongSignalPerc", ShortSignalPerc as "ShortSignalPerc"
