Trying to figure out how do to a standard trailing stop. It would initially be percent under the entry price and then get adjusted upwards and the price moves up always staying 4 percent under the highest price. I went through the forums but I do not really understand it.

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Not to sure this is the way to do it ?

Try this:

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That is great. Is there a function to specify a minimum hold period? I am trying to back test mutual fund switching, and I need to hold for 30 days, so the stop lose would need to be deactivated for the first 30 days.

Sure. Define a counter of days outside the loop and here's how it would look then:

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I would like to plot a line of the 95% trailing stop of the highest high since the position was opened in the price pane. Is that possible and, if so, could you indicate the required code changes.

Thanks

Mike

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Sure, see PlotStops() in the QuickRef.

Eugene,

My exit strategy requires the closing price to be below the 20 day MA and also be below 95% of the highest high since the position was opened. In this senario PlotStops only plots a red dot when the close has already fallen below the 20 day MA.

I should have phrased my earlier request differently. What I would like to do is to plot a line of 95% of the value of the highest high reached since the inception of the long position. By plotting this information throughout the trade I would be able to visualize proximity to my exit criteria at all times. Is this possible and could you provide or direct me to sample code.

Thanks,

Mike

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In this senario PlotStops only plots a red dot when the close has already fallen below the 20 day MA.

To rephrase, this exit strategy might be incomplete since it doesn't have a clear exit level defined at each bar.

QUOTE:
What I would like to do is to plot a line of 95% of the value of the highest high reached since the inception of the long position

Here's how:

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This is very close to what I was looking for. I'm assuming that a plot is not possible since DrawLine was used.

Thank you for the help.

Mike

A plot is possible if you have a clear exit level defined for each bar. Here, your exit technique is active on a very few bars during a trade.