Hi there, can someone please help me write a formula for a trailing stop loss. Basically i want a trailing stop loss that trails my share price by 2xATR whilst the share price is going up and goes flat when the share price falls. I then want it to trail the share price again (2xATR) once the share price goes back up to the where it originally fell from. Is this possible. Hope someone can help. Thanks in advance.

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wabbit

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MS: 6.52 EOD, 7.x EOD, 8.0 PRO, 9.2 PRO w/QC, 10 PRO w/QC & MDK
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This one might help too...

http://forum.equis.com/search/SearchResults.aspx?q=richard+dale


wabbit

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MS: 6.52 EOD, 7.x EOD, 8.0 PRO, 9.2 PRO w/QC, 10 PRO w/QC & MDK
For custom MetaStock programming : http://www.wabbit.com.au
My SkyPE status :
My SkyPE account : wabbit.com.au

I second Wabbit's recommendation for Richard Dale's Chandelier Advanced Trailing Stop; should do what you want and there are variations included.  Plugs right into MetaStock.

Here's a direct link to Dale's site where you can find his ATS and date plugins: http://www.tradernexus.com/

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When you see that in order to produce, you need to obtain permission from men who produce nothing - when you see that money is flowing to those who deal, not in goods, but in favors - when you see that men get richer by graft and by pull than by work, and your laws don't protect you against them, but protect them against you - when you see corruption being rewarded and honesty becoming a self-sacrifice - you may know that your society is doomed. - Ayn Rand

Thanks, but this is more about me learning to write my own formula as i am new to metastock. Any chance of still helping me out. Thanks

 If you want to learn how to code formulas, that's fine, but did you go to Dale's site and read this about the reason he created the DLL?

"Using the Metastock Developer's Kit, I developed a I developed a Metastock DLL because the Metastock Formula Language lacked a simple way of referencing prices from the entry day of the trade."

So you may not be able to code a fast, efficient equivalent to Dale's function using the MS formula language alone.  But have a go and let us know how you're progressing.

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When you see that in order to produce, you need to obtain permission from men who produce nothing - when you see that money is flowing to those who deal, not in goods, but in favors - when you see that men get richer by graft and by pull than by work, and your laws don't protect you against them, but protect them against you - when you see corruption being rewarded and honesty becoming a self-sacrifice - you may know that your society is doomed. - Ayn Rand

Thanks guys, and yes i have gone to dales site and it is something i will use. But first i still want to learn how to do my original request myself. I have only just started learning Metastock, formulas etc and i have only very basic experience on computers etc. So i just want someone to walk me through writing this formula for my Trailing stop. This will also give me experience. Any help appreciated.