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gani84

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Posts posted by gani84

  1. ' Name: Simplified Larry Williams 3 bar trailing stop

    ' Purpose: Trailing stop sets a stop value at the lowest low

    ' (or highest high) over 3 periods before the current day.

    ' Parameters: Periods: the number of period of lookback

     

    #Stop

    #Param "Periods",3

     

    Dim myvalue as single

    Dim mystop as single

     

    If signal=longsignal then ' If long signal, calculate

    myvalue=LLV(periods)[3] ' lowest low value of last 3 bars

    myvalue = MAX(myvalue, 1) ' & chk that todays low is greater

    mystop=myvalue

    if L<=mystop then ' If stop level is breached

    signal=exitsignal ' send exit signal.

    end if

     

    Plotprice ("stop",mystop,green) ' Plot the stop in price pane

     

    else if signal= shortsignal then ' If short signal, calculate

    myvalue=HHV(periods)[3] ' highest high value of last 3 bars

    myvalue=MIN(myvalue,1) ' & check that todays high is lower

    mystop=myvalue ' than this

    if H>= mystop then ' If stop level is breached

    signal=exitsignal ' send exit signal.

    end if

     

    Plotprice ("stop",mystop,green) ' Plot the stop in the price pane

    end if

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