Placing a floor using fixed trailing stop

July 13th, 2011, 12:10 AM

I'm trying to place a floor amount (activation level) using a fixed trailing stop.

the setpercenttrailing feature allows this, but you have to use a percent based trail (that's variable based on the positionprofit amount and retracement).

I'd like to be able to set an activation level for the trail, but used a fixed trail (setdollartrailing).

If I use a statement like this...

If positionprofit > 100, then begin
setstopcontract;
setdollartrailing(100);
end;

It activates the floor fine, but if price barely moves above my activation level and then retraces, the if then is no longer valid and the trail goes away.

Any help?

July 13th, 2011, 12:13 AM

var:
flag1 (false);

if marketposition = 0 then flag1 = false;

if positionprofit > 100 then flag1 = true;

if flag1 then begin
setstopcontract;
setdollartrailing(100);
end;

Mike

Placing a floor using fixed trailing stop

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Placing a floor using fixed trailing stop