ATR Trailing Stop

[sgroff]

Does anyone know how to create an ATR trailing stop in EFS? I'd like to have a line plotted that equals the last closing price of a security minus a specific ATR value.

Thanks for any help,

[smeyer55]

sgroff,

Here's some sample code you can use as a starting point. It is assumed you have defined the variables used somewhere else in your program.

For the initial stop value:

        if(bDirection) // LONG
    vStop = vCostBasis - (vATR.getValue(-1) * vATRMultiplier);  
else  // SHORT
    vStop = vCostBasis + (vATR.getValue(-1) * vATRMultiplier); 

Adjusting the stop at each NEWBAR

        if(bDirection) // LONG, only move up
    vStop = Math.max(vStop, close(-1) - (vATR.getValue(-1) * vATRMultiplier));
else  // SHORT, only move down
    vStop = Math.min(vStop, close(-1) + (vATR.getValue(-1) * vATRMultiplier)); 

This code assumes you will multiply the ATR value by vATRMultiplier. The multiplier would typically be assigned a value in the 1.0-5.0 range.

Steve