Trailing Bar Stop MTF

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Trailing Bar Stop MTF

Postby alienmole » Sun Mar 11, 2018 11:30 am

Trailing Bar Stop
If a Trade is Entered Short the stop will move to break even when an initial target distance is hit, it will then trail any down bar that has a high lower than the initial target distance.

So in the example picture, Price moves 10 pips in our favour, the stop goes to break even and then starts trailing down bars. (Note: it cannot start trailing the first down bar if the high is not a greater distance than the initial target distance)

General
a) Any time Frame can be used to trail bars on, eg 1 Minute, 2 Minute, 5 Minute, 10 Minute, 15 Minute etc
b) You can select how far away from the candle you want the stop to be, i.e. a buffer zone
c) You can specify ignoring bars with a candle under a certain size/length. With the option to either choose O/C or H/L for the length measured. (eg: If I use a figure of 5 for either OC or HL, all bars under 5 pips in length that meet that criteria will be ignored regardless of the timeframe being used to trail on)
d) You can specify what time frame you want the trailing stop to look at, this time frame may be different to the chart you are currently watching, or the chart you placed the initial order on.
(eg: I am watching a 2 minute time frame chart and I place my initial order with a global stop loss and target, however when I place the strategy on that order I might want the trailing stop to take place following a 15 minute chart)

The same rules apply but the opposite for a Long Trade.
Attachments
Trailing_Option_1.png
alienmole
 
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Re: Trailing Bar Stop MTF

Postby Apprentice » Tue Mar 13, 2018 7:28 am

Your request is added to the development list under Id Number 4076
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Apprentice
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