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Trailing stop based on previous bar high or low
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Trailing stop based on previous bar high or low

  #1 (permalink)
Trading Apprentice
Toronto,Canada
 
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Trailing stop based on previous bar high or low

Hi
I am looking for an ATM strategy where the stop can be trailed based on previous bar high/ low.
Also if one can customize which time frame to use for trailing and the number of bars to be used( current bar, or last bar , or 2 bars back...etc) and the number of tics (1or2...etc) to above or below the trailing bar.
Any help and feedback is highly appreciated.
Regards,
Guss

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  #2 (permalink)
Trading Apprentice
Vancouver Washington United State of America
 
Futures Experience: Intermediate
Platform: TS, TOS, IB, Street Smart
Favorite Futures: West Texas Intemediate
 
Marvin S's Avatar
 
Posts: 11 since Nov 2013
Thanks: 2 given, 4 received

Trailing high/low stop

What you are asking about I call a "technical stop." I can't tell you how to program it but I'll try to describe it as I understand it. I think it is best after you have gotten half way or more to your target to maximize your profit. If you use it too soon you can be whipsawed for a big loss. You may think you have been whipsawed anyway.

As a stock moves away from your entry (long or short--this example is for long) you place a stop a couple of ticks under the last pivot low or the low of an area of consolidation or basing. Then you wait until the next higher low is formed and the next higher high is exceeded and you move your stop a couple of ticks below the higher pivot low. You repeat until you have reached a target or if you have some of your position left after reaching your target you just proceed until you are stopped out.

Where you place your advancing stops depends on the chart of the time frame you are trading.

You just watch candles on a chart. Nothing else is needed.

I don't think it is programmable.

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  #3 (permalink)
Trading Apprentice
Vancouver Washington United State of America
 
Futures Experience: Intermediate
Platform: TS, TOS, IB, Street Smart
Favorite Futures: West Texas Intemediate
 
Marvin S's Avatar
 
Posts: 11 since Nov 2013
Thanks: 2 given, 4 received

Afterthougt


It can be used to trade all time highs when there is not target in sight.

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  #4 (permalink)
Trading Apprentice
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Marvin S View Post
What you are asking about I call a "technical stop." I can't tell you how to program it but I'll try to describe it as I understand it. I think it is best after you have gotten half way or more to your target to maximize your profit. If you use it too soon you can be whipsawed for a big loss. You may think you have been whipsawed anyway.

As a stock moves away from your entry (long or short--this example is for long) you place a stop a couple of ticks under the last pivot low or the low of an area of consolidation or basing. Then you wait until the next higher low is formed and the next higher high is exceeded and you move your stop a couple of ticks below the higher pivot low. You repeat until you have reached a target or if you have some of your position left after reaching your target you just proceed until you are stopped out.

Where you place your advancing stops depends on the chart of the time frame you are trading.

You just watch candles on a chart. Nothing else is needed.

I don't think it is programmable.

Thanks Marvin,
i am very aware of where to place my stops manually. I was just wondering if it can be automated based on price bars, specially in fast momentum moves trading shorter term time frames, 200-500tics.
where markets can run 50+ tics in few seconds, you don't really have time to move your stop fast enough.

Thanks again for your feedback

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  #5 (permalink)
Trading Apprentice
Vancouver Washington United State of America
 
Futures Experience: Intermediate
Platform: TS, TOS, IB, Street Smart
Favorite Futures: West Texas Intemediate
 
Marvin S's Avatar
 
Posts: 11 since Nov 2013
Thanks: 2 given, 4 received

Sorry

I didn't mean to talk down to you.

If you have TradeStation, they have two strategies called Pivot Reversal LE (long entry), and Pivot Reversal SE (short entry). You select the number of bars before and after the low bar to set as the entry point then when it hits that price again a sell or a buy order is sent. It might be a place to start.

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  #6 (permalink)
Trading Apprentice
Toronto,Canada
 
Futures Experience: Advanced
Platform: ninjatrader
Broker/Data: Ninjatrader
Favorite Futures: futures (CL and ES),forex,Options
 
Posts: 36 since Aug 2011
Thanks: 14 given, 12 received


Marvin S View Post
I didn't mean to talk down to you.

If you have TradeStation, they have two strategies called Pivot Reversal LE (long entry), and Pivot Reversal SE (short entry). You select the number of bars before and after the low bar to set as the entry point then when it hits that price again a sell or a buy order is sent. It might be a place to start.

Marvin
No need to apologize at all.
Thanks for your suggestion and feedback.
Just trying to figure out If this is possible on NT or not.

Thanks again.

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