How to Place a proper "Stop Loss" / Trailing Stops

#1
Hi,

This formula gives you a sell signal when the closing price crosses this formula value from above, and buy signal when the price crosses the formula value from below. Apart from providing us the entry signal, this simple formula can be used as a guide for placing both primary stops and trailing stops.( in other words the immediately following formula line works as a stop loss (primary / trailing) when the long position is open)

(HHV(H-3.3*ATR(10),14));

and the following formula line works as a stop loss (primary / trailing)when the short position is open

LLV(L+2.5*ATR(10),14)

The above codes are based on Chandalier's exit, and works wonderfully.

Pls give your feedback.

Shiva
 

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