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Releasing my "Ratio Stop" tool.
Why, because I would like some one to convert it to Esignal code for FREE, even esignal can include it in your library if you wish.
The Indicator is in the same family of Parabolic stop, and the Danton Stop. ( http://www.janarps.com/products/dantonstop.htm)
I have developed the code myself, based on the tools mentioned above. I must state the "Ratio Stop" may look like the Danton Stop but its is not his code, I have never seen any of his code or have ever purchased his code. ( ie so no legal issues)
Its based on higher highs, and lower lows and a stop ratio that you can use to ( ie 0.68, 1.68, Fibonacci ratios are best) hold the stop and reverse line back before make as confirmed a change.
PLEASE IF you use this code please post the ESIGNAL VERSION on this thread....as a trader I realise that two traders can have exactly the same tools and yet one can win and the other loose because its more than your tools that make you a winner, so I hope you do as well, and post your code here freely.
HERE IS THE Tradestation 2000i ELA code.....
Inputs :
Series(Close),
Ratio(1.25),{0.68,1.00,1.32,1.50,1.68}
Forward(2),
Back(2),
ColorDwn(red),
ColorUp(Blue),
BackColor(white), {Color equals the back color of your chart}
LineWidth(1);
Variables : LongStop(0),Lstop(0),ShortStop(0),Sstop(0), CloseX(0), HighX(0), LowX(0), DataInput(0);
{Using a moving average can produce better results and less }{whipsaws, use a MA thats has less lag}
{DataInput = T3Average(Series,6);}
{DataInput = jrc.jma.2k(Series,6,0);}
DataInput = Series;
CloseX = DataInput;
HighX = High;
LowX = Low;
{calculate long stop}
Lstop = lowx-(highx[1] - lowx[1])*ratio;
If Lstop < Longstop[1] and condition1 = true then Lstop = Longstop[1];
If closex > highest(closex[1],Forward) or lowx < lowest(lowx[1],Back) and condition1 = true then begin
Longstop = Lstop;
end
else begin
Longstop = Longstop[1];
end;
Condition1 = closex > Longstop;
Condition2 = closex < Longstop;
IF Condition1 and condition98 = false THEN
Condition99 = TRUE{short}
ELSE IF Condition2 THEN
Condition99 = FALSE;{long}
If Condition99 then Begin
SetPlotColor(1, ColorUp);
SetPlotWidth(1,LineWidth);
END
ELSE BEGIN
SetPlotColor(1, BackColor);
SetPlotWidth(1,0);
End;
Sstop = highx+(highx[1] - lowx[1])*ratio;
If Sstop > Shortstop[1] and condition3 = true then Sstop = shortstop[1];
If closex < lowest(closex[1],Forward) or highx > highest(highx[1],Back) and condition3 = true then begin
Shortstop = Sstop;
end
else begin
Shortstop = Shortstop[1];
end;
Condition3 = closex <= Shortstop;
Condition4 = closex > Shortstop;
IF Condition3 and condition99 = false THEN
Condition98 = TRUE{short}
ELSE IF Condition4 THEN
Condition98 = FALSE;{long}
If Condition98 then Begin
SetPlotColor(2, ColorDwn);
SetPlotWidth(2,LineWidth);
END
ELSE BEGIN
SetPlotColor(2, BackColor);
SetplotWidth(2,0);
End;
Plot1(Longstop,"Long");
Plot2(Shortstop,"Short");
Thx for your help......
Why, because I would like some one to convert it to Esignal code for FREE, even esignal can include it in your library if you wish.
The Indicator is in the same family of Parabolic stop, and the Danton Stop. ( http://www.janarps.com/products/dantonstop.htm)
I have developed the code myself, based on the tools mentioned above. I must state the "Ratio Stop" may look like the Danton Stop but its is not his code, I have never seen any of his code or have ever purchased his code. ( ie so no legal issues)
Its based on higher highs, and lower lows and a stop ratio that you can use to ( ie 0.68, 1.68, Fibonacci ratios are best) hold the stop and reverse line back before make as confirmed a change.
PLEASE IF you use this code please post the ESIGNAL VERSION on this thread....as a trader I realise that two traders can have exactly the same tools and yet one can win and the other loose because its more than your tools that make you a winner, so I hope you do as well, and post your code here freely.
HERE IS THE Tradestation 2000i ELA code.....
Inputs :
Series(Close),
Ratio(1.25),{0.68,1.00,1.32,1.50,1.68}
Forward(2),
Back(2),
ColorDwn(red),
ColorUp(Blue),
BackColor(white), {Color equals the back color of your chart}
LineWidth(1);
Variables : LongStop(0),Lstop(0),ShortStop(0),Sstop(0), CloseX(0), HighX(0), LowX(0), DataInput(0);
{Using a moving average can produce better results and less }{whipsaws, use a MA thats has less lag}
{DataInput = T3Average(Series,6);}
{DataInput = jrc.jma.2k(Series,6,0);}
DataInput = Series;
CloseX = DataInput;
HighX = High;
LowX = Low;
{calculate long stop}
Lstop = lowx-(highx[1] - lowx[1])*ratio;
If Lstop < Longstop[1] and condition1 = true then Lstop = Longstop[1];
If closex > highest(closex[1],Forward) or lowx < lowest(lowx[1],Back) and condition1 = true then begin
Longstop = Lstop;
end
else begin
Longstop = Longstop[1];
end;
Condition1 = closex > Longstop;
Condition2 = closex < Longstop;
IF Condition1 and condition98 = false THEN
Condition99 = TRUE{short}
ELSE IF Condition2 THEN
Condition99 = FALSE;{long}
If Condition99 then Begin
SetPlotColor(1, ColorUp);
SetPlotWidth(1,LineWidth);
END
ELSE BEGIN
SetPlotColor(1, BackColor);
SetPlotWidth(1,0);
End;
Sstop = highx+(highx[1] - lowx[1])*ratio;
If Sstop > Shortstop[1] and condition3 = true then Sstop = shortstop[1];
If closex < lowest(closex[1],Forward) or highx > highest(highx[1],Back) and condition3 = true then begin
Shortstop = Sstop;
end
else begin
Shortstop = Shortstop[1];
end;
Condition3 = closex <= Shortstop;
Condition4 = closex > Shortstop;
IF Condition3 and condition99 = false THEN
Condition98 = TRUE{short}
ELSE IF Condition4 THEN
Condition98 = FALSE;{long}
If Condition98 then Begin
SetPlotColor(2, ColorDwn);
SetPlotWidth(2,LineWidth);
END
ELSE BEGIN
SetPlotColor(2, BackColor);
SetplotWidth(2,0);
End;
Plot1(Longstop,"Long");
Plot2(Shortstop,"Short");
Thx for your help......
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