Hello,
I did search through the archives but have not as of yet seen what I'm looking for.
I want to dynamically set my stop loss based on the low of the entry bar or the low of the previous bar for longs or the high of the same two bars for shorts. I'd like to set it to exit if it hits 3 ticks below for longs or 3 ticks above for shorts.
Example 1
1 bar before entry low = 92.00
Entry bar low = 92.01
The lowest low of the two bars = 92.00
Exit if it gets 3 ticks below @ 91.97
Example 2
1 bar before entry low = 107.00
Entry bar low = 106.95
The lowest low of the two bars = 106.95
Exit if it gets 3 ticks below @ 106.92