Leon Wilson Trailing Stop Help

Hi - recently going through some of Leon Wilson’s trading materials inc. Breakthrough Trading. Optuma has Wilson’s RSI Channels which is great.

Leon also recommends using BB Bandwidth or an ADX Oscillator (rangebound b/n 0-100) and turning that into an adaptive trailing stop. How did Optuma turn the RSI into the channels or is there any suggestions on turning an ADX index into a trailing stop.

Any advice here would be greatly appreciated.

The ADX oscillator seems reasonably ok to code its the trailing stop thats got me:

var1 = adx(DEFAULT=DMPlus, BARS=10, ADXRBARS=10);

var2 = adx(DEFAULT=DMMinus, BARS=10, ADXRBARS=10);

((var1-var2)/var1)*100

cheers

Mandeep

 

 

Hi Mandeep,

For an ADX stop, have a look at the Chandelier Stop tool. It uses ADX’s but it has a “ratchet” feature so it never retreats from the market.

For BBBW, we would need to know the exact theory behind the Stop calculation. There are too many possibe ways it could be used.

All the best

Mathew