NEWS...I am releasing my "Favourite Code"...for Code Conversion !!!

[rmclean]

OOPS, I see that the file name did not retain the capital letters that I gave it...
I hope that I didn't overwrite the original file that Chris Kryza posted. If I did, I am sorry...blame it on ignorance..?

Bob

[Harndog]

rmclean

Thanks

Harndog

[Digs]

USERS TIP...because I am in such a good mood that I had my code converted for free.. some user tips.

Chart and tool Settings ....
Ratio : 0.68
BarChart 1 min
Price HL/2
Use : Stop Control for price breakout.

Symbol...For a hypothetical LONG Breakout trade
Current Price : 24.95
Breakout entry price : 25.01
Ratio Stop line for Long is at say...24.85 (before breakout)
Exit Rule : Exit When Close breaches the Ratio Line ( blue for LONG)

Well when your stock breaks out above 25.01, you in the LONG position. What should happen is that the 1 min bars make higher highs, and this will bring the Ratio stop tool up to your breakeven point around the 25.01 very quickly, this is GOOD trade behaviour. HOWEVER if the trade is activated and between 1 or 3 mins the Rato Stop line has not moved to a higher level, then you can confirm that your breakout may be a false move, even worse if price moves down towards your Ratio Stop, here I usually confirm that the break out has no gas, check the volume levels and other things, and may just EXIT the trade before 1 min close breaches the Ratio Stop line. The important thing is that this tool gives the trader a subjective chance to decide to hold or exit when the trade is not an immediate winner. Of course if the the Ratio stop line is breached I am out no matter what.


Cheers

Post any ideas you may have with this tool, thx

[Guest]

Thanks

Thanks Digs

[rmclean]

Digs,
What use do you make of the Forward and Backward parameters?

Since you wrote the original TradeStation study, I assume that you had a reason for making them different at times...I have been trying to figure out why.

They appear to me to simply be the number of bars which you will search for a higher high or a lower low. Both search backward in the arrays, nothing goes forward because there is nothing in the array which is "forward"...so even the terminology is a bit confusing.

What am I missing?

Thanks, Bob

[rmclean]

Chris Kryza,
Thank you for your work on almostdantonstop.efs.

I think there is a minor bug...apply it to a 1 min chart of ES and you will see that each time it switches from Short (red) to Long (Blue) there is a blank bar with no stop. When it switches back the other way, this does not occur.

Also, what do you make of the Forward / Backward parameters? Why would someone want different search lengths?

Thanks, Bob

[Digs]

Its been a long time since I wrote the code, My challenge to you is too take my code ideas, and re write it with the end result in mind. I am happy with its realtime performance, but I may get into the code over the weekend and have a refresh.

THE IDEA, When there is a new high, take the range of that bar times the ratio, and deduct it from the low of the new new high bar and draw the ratio bar, if any bars did not manage a new high then the ratio bars stays put. Calcs are based on previous bar. (if I remember correctly). Reverse for new lows. The Switch happens when price (HL/2) for the current bar breaks the previous bar ratio line.

Also the new high, may be the best of the bars -1,-2 when the backward looking, cant remember...

I am sure some of you coding wizards can take this version and come up with better code.

This stop is the best out there in my humble opinion as the stop level is relative to the excitement of the current bar range. That is if the range is wide then the stop will be wide. And when prices stalls in a rally the bar range can get tight, hence the stop level wont be far away and profits will be locked in.

[Digs]

..."Also, what do you make of the Forward / Backward parameters? Why would someone want different search lengths?"....

Yea this is a bit confusing, could have been called one name like "Period".. after reading the code again I see that the longstop moves up for two reasons (1) that price is moving up, or (2) price range is making low lowers, so it goes into protection mode andf lifts Ratio line. And I think is examines the previous two periods (ie [-1],[-2]) to compare current bar against....I will leave you all know as I have to work on trading.

I am sure if you nut the code out, with debug tools etc you will crack it. then you can post your better version here.

ANOTHER Use...

Please STOP tool on 10 min bars, and when longstop is under price trade oscillators for rebound from retracements when longstop is still long. I dont trade that way, as I can never work out when a retracement is over.

[rmclean]

Digs,
I am posting a fix for that minor bug which left a blank bar when the stop flipped from short to long.

I also renamed the variables so they make more sense to me, and changed the Backward and Forward variables to one single variable named Period. Then I commented the code as I understand it to be.

I tried to streamline the code after I understood it a bit better, but everything I did just messed it up...so...I mostly left it as it was.

I like the study, and I will watch it for a few days.

Thanks, Bob

[Digs]

If you review the tradestation version the Price or DataInput can either be Close or a DataSeries (ie like a moving average). Using a DataSeries reduces the false breaks. I have used this with the Juriks JMA on 5 min bars to be a trend determination when scanning for stocks.

There have been over 70 downloads I was hoping for more contributions of ideas, come on all dont be shy !!!

Cheers

[Digs]

Guess what ...there are hybrids of the code is already turning up for sale...good on them...so if you want to pay money for stop code check out...

Link : http://www.sr-analyst.com/eSignal.htm
Price Value Trailing Stop w/Ratchet
ATR Trailing Stop w/Ratchet


Dam, should have patent the code at the USA Patent office could have made a million, and given up trading !!!

Just joking it was the kind fellows at SR-Analyst that originally converted the code for me for free on this post, so thanks guys. But couldnt you have posted your versions here for free, hey I did !!!

FYI, The individual you are accusing has had the subject code out for review for some time now with several of my associates, and IMHO did you a personal favor by coding your "Favourite Code" for you on his own personal time. I find it shocking that you would question the individual's integrity as you have, even in jest.

[FibbGann]

I second what Steve said!!!

Fibbgann

[ACM]

Ian
FYI I have used Chris Kryza's Stop EFS(s) for far longer than your code has been posted on this board so perhaps you may want to review your statement.
Alex

[Digs]

Ok, fair enough, statement retraced.

Have a nice day !