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Trailing Stop Based on Swing High/Low
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Created: by ClarkFX Attachments:0

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Trailing Stop Based on Swing High/Low

  #1 (permalink)
Trading Apprentice
Calgary + Alberta
 
Futures Experience: Advanced
Platform: MultiCharts, MetaTrader, Custom
Favorite Futures: Forex
 
ClarkFX's Avatar
 
Posts: 7 since Jul 2012
Thanks: 1 given, 1 received

Trailing Stop Based on Swing High/Low

Hi guys, I'm trying to write a signal and I'm having troubles setting an initial stoploss as well as a trailing stop.

For long entries, I'd like the initial stop to be placed at the most recent swing low. For short entries, I'd like the initial stop to be placed at the most recent swing high.

As for the trailing stop, I'd like it to trail stops as a new swing low (long entries) or swing high (short entries) is formed.

The code that I have for long orders is:

If MarketPosition = 1 then begin

s_low = SwingLow(1, low, 2, 50);

Sell ("LE Stop") 1 contract next bar at s_low limit;

end;

Right now, that doesn't seem to be working at all, and I'm not really sure how else to go about it. I haven't found anywhere else that describes this. Any help would be appreciated.

Clark

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  #2 (permalink)
Elite Member
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Don't put a stop inside a "begin - end" statement..
Remove "Sell ("LE Stop") 1 contract next bar at s_low limit;" and put it after the "end" ;

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  #3 (permalink)
Trading Apprentice
Calgary + Alberta
 
Futures Experience: Advanced
Platform: MultiCharts, MetaTrader, Custom
Favorite Futures: Forex
 
ClarkFX's Avatar
 
Posts: 7 since Jul 2012
Thanks: 1 given, 1 received


So what should it look like? I'm not sure what you're saying.


Quoting 
If MarketPosition = 1 then
s_low = SwingLow(1, low, 2, 50);
Sell ("LE Stop") 1 contract next bar at s_low limit;

Like this you mean?

How come a begin, end will not work in this case?

Edit:

Just tried this, didn't work.

Thanks,
Clark


Last edited by ClarkFX; July 7th, 2012 at 08:58 PM.
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