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| Discuss Trailing Stoploss Indicator at the MetaStock within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Friends Here is the formula for a simple Trailing stop indicator The formula draws a ... |
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#1
21st October 2005, 12:12 AM
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Trailing Stoploss Indicator
Friends
Here is the formula for a simple Trailing stop indicator The formula draws a stoploss loss line which will be 7% below the highest close within a lookback period of 20 bars. The Stoploss % and the Lookback period can be varied. When you plot the indicator you will be prompted for Look back period and Stoploss%. The defaults are set to 20 bars and 7%. LB:= Input("Enter lookback period",15,30,20); PERIOD:= Input("ENTER % STOPLOSS",2,10,7); HHV(C ,LB)-(HHV(C,LB)*(PERIOD/100)) A chart is enclosed just to give an idea how this one looks regards karthik Last edited by karthikmarar; 20th May 2008 at 12:42 AM. 
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#2
21st October 2005, 12:43 AM
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Re: Trailing Stoploss Indicator
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Have been working on a similar formula for my Amibroker too. Just to add another point, when the scrip is low in liquidity and mostly low in volatility for that reason, one may try with a 5% or even 4% trailing stop. With low volatility, 4 or 5% change would be enough deviation. You may want to try it out on a counter like Madras Cement. Do let me know. Thanks.
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#3
21st October 2005, 02:56 AM
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Re: Trailing Stoploss Indicator
Hi Amit
You are correct. In case of Madras Cements a 4% stoploss would be appropriate. That is why I gave the option of changing the percentage. By the way...Even the 7% default figure based on your post on stoploss..  regards karthik
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#6
5th May 2008, 08:54 AM
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Re: Trailing Stoploss Indicator
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Seeing the attached graph it seems the SL is for LONG ONLY positions and not for SHORT sold trades. Could not test it in my Metastock as it needs to be reloaded!!! Regards. R K Karnani
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