Trailing Stop Based on Swing High/Low

July 7th, 2012, 07:24 PM

Hi guys, I'm trying to write a signal and I'm having troubles setting an initial stoploss as well as a trailing stop.

For long entries, I'd like the initial stop to be placed at the most recent swing low. For short entries, I'd like the initial stop to be placed at the most recent swing high.

As for the trailing stop, I'd like it to trail stops as a new swing low (long entries) or swing high (short entries) is formed.

The code that I have for long orders is:

If MarketPosition = 1 then begin

s_low = SwingLow(1, low, 2, 50);

Sell ("LE Stop") 1 contract next bar at s_low limit;

end;

Right now, that doesn't seem to be working at all, and I'm not really sure how else to go about it. I haven't found anywhere else that describes this. Any help would be appreciated.

Clark

July 7th, 2012, 07:45 PM

Don't put a stop inside a "begin - end" statement..
Remove "Sell ("LE Stop") 1 contract next bar at s_low limit;" and put it after the "end" ;

July 7th, 2012, 07:50 PM

So what should it look like? I'm not sure what you're saying.

Quoting

If MarketPosition = 1 then
s_low = SwingLow(1, low, 2, 50);
Sell ("LE Stop") 1 contract next bar at s_low limit;

Like this you mean?

How come a begin, end will not work in this case?

Edit:

Just tried this, didn't work.

Thanks,
Clark

Trailing Stop Based on Swing High/Low

Discussion in MultiCharts

Trailing Stop Based on Swing High/Low