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multicharts- ATR trailing stop expert adviser?
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multicharts- ATR trailing stop expert adviser?

  #1 (permalink)
Elite Member
Grants Pass, Oregon USA
 
Futures Experience: Intermediate
Platform: metatrader and converting to multicharts
Favorite Futures: Forex
 
Posts: 1 since Sep 2012
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multicharts- ATR trailing stop expert adviser?

Has anyone made a ATR trailing stop, that will close your position.....like while you are at work?? If so I would love to know how? New to multicharts

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  #2 (permalink)
Elite Member
Netherlands
 
Futures Experience: Advanced
Platform: Ensign, Multicharts
Favorite Futures: SP500
 
Posts: 95 since Nov 2009
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Answer
This post has been selected as an answer to the original posters question Answer

Haven't coded it myself not tried it but perhaps this helps

 
Code
[LegacyColorValue = TRUE];

Inputs: TrailingATRs(4), ATRLength(10);
Variables: PosHigh(0), PosLow(0), ATRVal(0);

ATRVal = AvgTrueRange(ATRLength) * TrailingATRs;

If MarketPosition = 1 Then Begin
	If BarsSinceEntry = 0 Then
		PosHigh = High;
	If High > PosHigh Then
		PosHigh = High;
	ExitLong Next Bar at PosHigh - ATRVal Stop;
End;

If MarketPosition = -1 Then Begin
	If BarsSinceEntry = 0 Then
		PosLow = Low;
	If Low < PosLow Then
		PosLow = Low;
	ExitShort Next Bar at PosLow + ATRVal Stop;
End;

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