Target % stop using efs wizard

[taff01]

Hi,
Newb to esignal and wondering how to set a target % stop or trailing stop using the efs wizard ver 8.

Scenario:
Long or short position and want to close out once price gets to my 10% target profit of entry price (without calculating each one).

Also want to put in a stop 0.5% below previous low or above previous high depending on direction of trade.

Any help much appreciated.

Taff..

[ACM]

Taff
You will not be able to do that using the Formula Wizard as it requires creating global variables which the Formula Wizard cannot do. You will need to write it using the Editor (Tools-> EFS-> Editor...).
You can find complete and detailed examples on how to add stops and profit targets in the BackTesting Tutorials
If you encounter any problems post your code and someone will be available to assist you in fixing it.
Alex

[taff01]

Thanks Alex I'll give that a shot...

[taff01]

Had a quick look and it only shows an example using the Donchian strategy which makes absolutely no sense to me :-)


Is there any examples using a basic adx or di strategy?

[eSignal_JasonK]

Hello taff01,

The built-in study used by a strategy is irrelevant to the logic used for coding targets and stops. It does not matter what values or studies are used in the conditional statements that trigger an entry trade. The stop or target price level is based off of the entry price. Study the logic outlined in the tutorials and then try writing a basic sample. If you run into something specific you don't understand, post your code and details and we'll go from there.

You could also do a search on adx and other keywords to find some examples that use those built-ins.