Stop using the value of an indicator on previous bar

January 19th, 2010, 10:21 AM

Hi everyone

I'm trying to find a suitable way of coding a stoploss or trailstop that follows price, using an indicator in an auto strategy.

The indicator I favour is the ZerolagHATEMA.

For example, I've tried:
SetTrailStop(CalculationMode.Ticks, ZeroLagHATEMA(Period).ZeroHATEMA[1]);

I use the Period variable set to 5 so it closely follows price, but it doesn't seem to work when I place it before or after CalculateOnBarClose = true; and protected override void OnBarUpdate() - the latter after the buy/sell signals

I prefer to use the MedianRenko4 bar chart.

My coding skills are not too flash therefore if anyone has any ideas I'd love to hear them.

I have to jump on a plane to New Zealand for a family wedding in a few hours so now off to bed (Brisbane time is +15hrs US EST) - so apologies in advance for not responding for a few days until I return early next week

Cheers,
Nano

March 28th, 2010, 07:37 AM

I was thinking on something similar, but with the use of previous swing values:
have you been able to code an effective solution?

TIA,
Jon

March 28th, 2010, 08:18 AM

Trader.Jon

I was thinking on something similar, but with the use of previous swing values:
have you been able to code an effective solution?

TIA,
Jon

Sorry mate, I have moved on after discovering Hurley auto strategy trading. Check out the coding in The Elite Circle/Elite Group Trading Methods/The Hurley Method (automated) - some of Big Mikes and my trailing stoploss methods may be useful.

Cheers,
Nano

March 29th, 2010, 08:41 PM

nanobiotech

For example, I've tried:
SetTrailStop(CalculationMode.Ticks, ZeroLagHATEMA(Period).ZeroHATEMA[1]);

Try using CalculationMode.Price

I don't use SetTrailStop so this is only a guess.

hth,
kz

March 29th, 2010, 08:45 PM

nanobiotech

For example, I've tried:
SetTrailStop(CalculationMode.Ticks, ZeroLagHATEMA(Period).ZeroHATEMA[1]);

zeller4

Try using CalculationMode.Price

Trail Stop should be in ticks, as in ticks away from current price. In the first example from nano, you are trailing the entire value of that indicator. For CL example, if price is 85.00 and the indicator value is 84.20, you are trailing not 80 ticks but 8420 ticks.

Try this (untested):

Code

                            
double _stopdiff = Math.Abs(Close[0] - ZeroLagHATEMA(Period).ZeroLagHATEMA[1]);
SetTrailStop(CalculationMode.Ticks, _stopdiff);

Mike

March 29th, 2010, 10:13 PM

Big Mike

Trail Stop should be in ticks, as in ticks away from current price. In the first example from nano, you are trailing the entire value of that indicator. For CL example, if price is 85.00 and the indicator value is 84.20, you are trailing not 80 ticks but 8420 ticks.

Try this (untested):

Code

                            
double _stopdiff = Math.Abs(Close[0] - ZeroLagHATEMA(Period).ZeroLagHATEMA[1]);
SetTrailStop(CalculationMode.Ticks, _stopdiff);

Mike

Yes, I now use CalculationMode.Price and not Ticks. Below is a snippet from a recent Hurley strategy:

if (Position.MarketPosition == MarketPosition.Long)
{
if (High[0] >= Position.AvgPrice + (Target1 * TickSize))
{
SetStopLoss("target1", CalculationMode.Price, Math.Min(GetCurrentBid(), Position.AvgPrice + 2 * TickSize), false);
SetStopLoss("target2", CalculationMode.Price, Math.Min(GetCurrentBid(), Position.AvgPrice + 2 * TickSize), false);
SetStopLoss("target3", CalculationMode.Price, Math.Min(GetCurrentBid(), Position.AvgPrice + 2 * TickSize), false);
SetStopLoss("target4", CalculationMode.Price, Math.Min(GetCurrentBid(), Position.AvgPrice + 2 * TickSize), false);
SetStopLoss("target5", CalculationMode.Price, Math.Min(GetCurrentBid(), Position.AvgPrice + 2 * TickSize), false);
}
}

Nano

March 29th, 2010, 10:20 PM

Yup, always smart to use Price with StopLoss, but use Ticks with TrailStop.

Mike

Stop using the value of an indicator on previous bar

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Stop using the value of an indicator on previous bar