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Trail Stop Indicator
Started:March 24th, 2014 (04:40 PM) by Michael Krall Views / Replies:311 / 2
Last Reply:March 26th, 2014 (09:30 AM) Attachments:0

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Trail Stop Indicator

Old March 24th, 2014, 04:40 PM   #1 (permalink)
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Manitowoc, WI
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Trail Stop Indicator

I have been looking for what would seem to be a simple indicator already out there but can't find it. I want to use it to help with my back testing.

I am looking for hash lines a user select-able distance above the recent highest high and below the recent lowest low to show where a trailing stop of "x" ticks would be.

Anyone seen this out there? Or know what I could modify to work?

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Old March 24th, 2014, 04:40 PM   #2 (permalink)
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Old March 26th, 2014, 09:30 AM   #3 (permalink)
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There is a Chandelier Stop here, but it does not use a fixed offset. It uses the volatility of the prior N bars to adjust the stop.

This indicator could be modified (simplified) to use a fixed instead of the variable offset, which is volatility based. Also you can simply use a large period N (for example 256), then it will behave like an indicator with a fixed stop. If you select a period larger than 256, please set "MaximumLookBack" to "Infinite".

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