Trailing Stop Levels

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syswizard
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Trailing Stop Levels

Postby syswizard » 13 Nov 2019

I need to start using the trailing stop exit strategy. However, I am confused over the specification of multiple levels.
Is the tick/percent specification to be based on the prior level or is it based on the tick/percent movement from the price where the exit strategy was placed ?
Example:
Level 1: Profit 10 ticks, stop loss 4 ticks
Level 2 Profit 5 ticks, stop loss 6 ticks
So when price has moved 15 ticks or more in my favor, when it reverses 6 ticks, the stop loss will be triggered.
However, if the price has moved 14 ticks, when it reverses 4 ticks, the stop loss will be triggered.
Is this how it works ?

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FinanceStrategy
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Re: Trailing Stop Levels

Postby FinanceStrategy » 15 Nov 2019

This is only an idea, I write it in 5 minutes. I haven't try it with a trading system... I don't know if it works.

If openpositionprofit > 10 and openpositionprofit <=15 and OpenPositionProfit > MyHistoricOpenProfit then
begin
MyTrailing = OpenPositionprofit - (openpositionprofit-4);
MyHistoricOpenProfit = OpenPositionProfit;
setstoploss (MyTraling);
End;

If openpositionprofit > 15 and openpositionprofit <=30 and OpenPositionProfit > MyHistoricOpenProfit2 then
begin
MyTrailing = OpenPositionprofit - (openpositionprofit-6);
MyHistoricOpenProfit2 = OpenPositionProfit;
setstoploss (MyTraling);
End;

Continue for other levels.

If OpenPositionProfit = 0 then begin
MyHistoricOpenProfit = 0;
MyHistoricOpenProfit2 = 0;
MyTrailing = 0;
End;

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syswizard
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Re: Trailing Stop Levels

Postby syswizard » 15 Nov 2019

Thanks for that, but that code must be rewritten to calculate things based on PointValue and CurrentContracts so that it is expressed in terms of ticks.
Also, this code has nothing to do with how Multicharts implemented their trailing stop logic based on the specification of profit and loss for each level.


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