Trail Stop Indicator

March 24th, 2014, 04:40 PM

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?

March 26th, 2014, 09:30 AM

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.

Download: Chandelier Stop

Exported using NT Version 7.0.1000.12 This is a new implementation of the chandelier stop developed by Charles LeBeau. For a long trade the chandelier stop is calculated by subtracting a multiple of the average true range over the last N bars from …

Fat Tails

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".

Trail Stop Indicator

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Trail Stop Indicator