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Larry Williams 3bar trailing stop
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Created: by tuyen Attachments:3

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Larry Williams 3bar trailing stop

  #1 (permalink)
Trading Apprentice
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Larry Williams 3bar trailing stop

Hi everybody,
I m just trying to code Larry Williams 3bar trailing stop in NinjaTrader. I m not experienced in programming, so would need help. I believe that this indicator will help many people to stay in position and let the profit runs.
Here is what I need to code:

If long, determine the highest close (inside daysdont count) in the up move so far. Count that day as day one and go back to get two more days. Once all three days have been noted, then determine the lowest true low of those three days.

For short everything vice versa.

Thank you for help.


Last edited by tuyen; September 6th, 2012 at 09:59 AM.
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  #2 (permalink)
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  #3 (permalink)
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not sure I understand the go back one and then the there days?

Regards,
Neil.

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  #4 (permalink)
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Hi Neil

Thank you for your reply,

I just corrected the wording. I made a mistake. Hope it will be clear now.

here it is again
---------------------
If long, determine the highest close (inside daysdont count) in the up move so far. Count that day as day one and go back to get two more days. Once all three days have been noted, then determine the lowest true low of those three days.

----------------------
----------------------

what I mean is that if I m long I should find the highest close(inside day dont count) in the up move. this will be the day 1, and now I should get two more days (none of them inside day) and from this three days find the lowest true low which is the stop/loss
So the stop/loss will stay the same in small corrections.

Hope I explained it more clearly.

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  #5 (permalink)
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tuyen View Post
Hi everybody,
I m just trying to code Larry Williams 3bar trailing stop in NinjaTrader. I m not experienced in programming, so would need help. I believe that this indicator will help many people to stay in position and let the profit runs.
Here is what I need to code:

If long, determine the highest close (inside daysdont count) in the up move so far. Count that day as day one and go back to get two more days. Once all three days have been noted, then determine the lowest true low of those three days.

For short everything vice versa.

Thank you for help.

Do you know 3bar trailing stop indicator formula??

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  #6 (permalink)
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NW27 View Post
not sure I understand the go back one and then the there days?

Regards,
Neil.

Do you know 3bar trailing stop indicator formula??

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  #7 (permalink)
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I have tried to search for the exact formula, but could not find it. It seems that Larry Williams has used several approaches to define trailing stops.

-> one is based on a high average and a low average (three bar high/low system)
-> one is called Williams Volatility Stop and looks like a SuperTrend indicator
-> one is called WillStop

Without proper documentation it cannot be coded.

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  #8 (permalink)
Market Wizard
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it sounds more like guppy trailing stop because it involves bar couting http://www.omnitrader.com/PDFs/GMMA2.pdf

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  #9 (permalink)
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3 Bar Trailing Stop

There was a request from @leotrader1177 here

https://futures.io/elite-circle/1261-want-your-ninjatrader-indicator-created-free-999.html#post401277

to code a 3 bar trailing stop. This indicator seems to be one of the indicators developed by Larry Williams.

We have an old chart here:

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and a trailing stop formula, which I will try to put in words:

-> when short, use the larger of (High[1] + 1 tick) and (SMA(2)[2] + 0.9 * TR[2])
-> when long, use the smaller of (Low[1] - 1 tick) and (SMA(2)[2] - 0.9 * TR[2])

where High[1] is the high of the prior bar, Low[1] the low of the prior bar, SMA(2)[2] the 2-period SMA 2 bars ago and TR[2] the true range 2 bars ago.

I have tested this approach and did not like the bands the way they were plotted, therefore I have modified the formula

-> replaced the true range two bars ago TR[2] with the 2-period average true range two bars ago ATR(2)[2]
-> allowed different parameters than 0.9 for the multiplier
-> introduced an option to calculate the SMA(2)[2] from the typical price or the midpoint instead of the bar close
-> exposed the current trend based on the rules via plot colors and paint bars

I think that the modifications improve the indicator. Any comments would be welcome.


Below is a sample chart.


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  #10 (permalink)
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please post the range trailing stop

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