MetaStock - Trailing stoploss Indicator in Software for Analysis - Here is the formula for a simple Trailing stop indicator
The formula draws a stoploss loss line which will be ...
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06-22-2011 12:22 PM
Trailing stoploss Indicator
Here is the formula for a simple Trailing stop indicator
The formula draws a stoploss loss line which will be 7% below the highest close within a lookback period of 20 bars.
The Stoploss % and the Lookback period can be varied. When you plot the indicator you will be prompted for Look back period and Stoploss%. The defaults are set to 20 bars and 7%.
LB:= Input("Enter lookback period",15,30,20);
PERIOD:= Input("ENTER % STOPLOSS",2,10,7);
HHV(C ,LB)-(HHV(C,LB)*(PERIOD/100))
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