who knows how to program indicator WillStop

[gani84]

' 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