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Easy language stop loss
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Created: by Acehigh Attachments:0

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Easy language stop loss

  #1 (permalink)
Trading Apprentice
Beverly Hills
 
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: Forex
 
Posts: 1 since Aug 2013
Thanks: 0 given, 0 received

Easy language stop loss

Hello, this is a forex question for tradestation easy language, does any one out there know how to have a stop loss follow an indicator. For ex. You manually enter a trade and then add a stop loss but you want the stop to follow a selected indicator like moving average or keltner channel or whatever. I'm trying to get the stop to trail/follow the indicator not the price. Here is what I would like it to do. I manually enter the trade and place a stop loss. I would like for the stop loss to follow my indicator and when the price crosses/touches the indicator I want the stop to trigger and exit the trade win or lose. I am also open to using an easy language that triggers the stop once the condition of price touching/crossing the indicator is met. Thanks for any help I know there are no easy answers and fixes.

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  #2 (permalink)
Market Wizard
Hamburg Germany
 
Futures Experience: Advanced
Platform: Multicharts, Tradestation, Multicharts.NET, NinjaTrader, MetaTrader
Broker/Data: DTN IQ
Favorite Futures: ES
 
Posts: 1,526 since Apr 2013
Thanks: 229 given, 853 received
Forum Reputation: Legendary

Hi Acehigh,

in my opinion this needs to be done with an EasyLanguage strategy. This would detect your manual entry, place the stop loss and update the trailing stop according to an indicator.

Regards,
ABCTG

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