baraozemo wrote:
Hi,
mladen and mntiwana have posted some solutions for this in this old topic.
I think that you can use "hilo" for trailing,it has some extra options, but the trailing stops should be set to the high or the low of the bar you choose (the HighLowBar is the bar you wish to use for highs and lows)
Dear Barazoemo,
Thank you for your attention and reply. My idea-request is not to find other types of trailing stops or methods for closing a position ....
My approach is enough simple ... Let's assume that we are in a trade with a long position and we need to find where to close our position or how to protect our profits ...
Using a Moving Average as a tool for this purpose, we can observe the visual example with the attached picture. Suppose we are in Bar#0 which is not yet closed .... Bar#1 is closed, so it can be taken in consideration with our calculations ... we know that the Simple Moving Average is calculated by adding the prices of "n" periods and then divide the sum with "n" ... In order to make it simple we suppose that our Ma is a Simple one with 34 periods and as price we use the Close price. Calculating the 34 periods of a simple moving average of closing prices, we add last 34 closing prices and we divide by 34 ... If we could know earlier every new coming Close Price we would be only profitable ... With this thinking we can make our calculation supposing that as result the MA will cross the prices ... So calculating the MA we have an unknown factor which is the "coming Closing Price", but as a result must give the same value ... that means "34 Simple MA value = Close Price" ... This way we can calculate our risk during our trade ...
For any additional info, please do not hesitate to ask ....
Best Regards
Dimitri