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Placing a floor using fixed trailing stop
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Placing a floor using fixed trailing stop

  #1 (permalink)
Fortitudo et Honor
Austin, TX
 
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Placing a floor using fixed trailing stop

I'm trying to place a floor amount (activation level) using a fixed trailing stop.

the setpercenttrailing feature allows this, but you have to use a percent based trail (that's variable based on the positionprofit amount and retracement).

I'd like to be able to set an activation level for the trail, but used a fixed trail (setdollartrailing).

If I use a statement like this...

If positionprofit > 100, then begin
setstopcontract;
setdollartrailing(100);
end;

It activates the floor fine, but if price barely moves above my activation level and then retraces, the if then is no longer valid and the trail goes away.

Any help?

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var:
flag1 (false);

if marketposition = 0 then flag1 = false;

if positionprofit > 100 then flag1 = true;

if flag1 then begin
setstopcontract;
setdollartrailing(100);
end;

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