New Trailing Stop Tool

Optuma Desktop Feature Requests
1

Hi Optuma team,

I want recommend a new trailing stop tool.

In some way it is not really new, it is more a variation of the ATR Trailing Stop tool (https://help.optuma.com/kb/faq.php?id=1132). But instead using the average true range as in the ATR Trailing Stop tool, the new tool should use percentage changes.

A percentage change trailing stop is in some way already possible using the RATCHET() function (https://help.optuma.com/kb/faq.php?id=1045).

Darren has also created a post with the RATCHET() function (https://forum.optuma.com/topic/trailing-stop-tool/#post-58179).

But using the RATCHET() function has the disadvantage that the calculation and displaying of the stop line doesn’t end when the stop line is penetrated as it is the case with the ATR Trailing Stop tool.

Thanks
Thomas

2

ADDENDUM

I would also like to mention that it would be a good idea to add to the new trailing stop tool the “Reset Bars” function as it is available in the tool “Drawdown Trailing Stop Loss” (https://help.optuma.com/kb/faq.php?id=1113).

Thanks

Thomas

3

ADDENDUM

This new trailing stop tool would be a great tool for a money stop risk management system.

I understand of course that it is to late to implement the new trailing stop tool into v1.6. But hopefully it can be done for v1.7.

Thanks

Thomas

4

Hi Thomas,

Leave this with us and we’ll see what we can do. It is unlikely to make it into 1.6 at this stage. What I would prefer to do is a Trailing Stop Script tool where you can define the stop interval with a script. Then it will be super flexible.

All the best

Mathew

5

Show Stop Tool

Has properties:

  • Interval Script which has the calculation eg ATR()
  • Calculate From : Open|High|Low|Close|HL|HLC|OHLC|Median (where we measure the interval from)
  • Ratchet On|Off
  • Reset Bars
  • Stop On : Any|Open|High|Low|Close|HL|HLC|OHLC|Median (what crossing the line will trigger the stop)
  • Continuous : This means it is one continuous line like a PSAR tool

If not continuous, it starts from the selected point and has a label at the point is was broken.

6

Hi Mathew,

WOW, that looks really great and very flexible. Thanks a lot.

I hope I haven’t unnecessarily disrupted your regular work.

Thomas

7

Hello,

I am unable to find “Show Stop Tool” in Optuma.

Does it run by another name?

Thanks, Brad

8

Hi Brad,

the “Show Stop Tool” will be a feature in an upcoming version of Optuma. It’s not yet available.

Thanks,
Thomas

9

Hi Thomas,

Thanks very much for your reply.

I will eagerly await its appearance.

Any idea how far it is away?

Cheers, Brad

10

Hi Brad,

It is on the schedule for Optuma 1.7. With the release of 1.6 delayed by 2 months, I think we are now looking at a Beta by late December/ early January.

I can attach you to the task so our system will send you updates as it progresses. Note that there is always a lot of tasks which go into a build, so the task may be done earlier but it still not be available until we release 1.7.

All the best

Mathew

11

Hi Brad,

Actually can you please email support and ask to be attached to OP-427? It’s a little hard to work out which “Brad” you are

All the best

Mathew

12

Hello Matthew,

I have just emailed support as you suggested.

Thanks for your help, I look forward to seeing the new indicator.

Cheers, Brad

13

Hello Matthew,

Just thinking about the new “Show Stop Tool”, I am unable to find it in Optuma, is it in there by another name?.

Thanks, Brad

14

Hi Brad,

It’s not released yet - you may have been getting notices as it has been going back and forth between our testing team and the developers. I sent it back as I wanted it to be smarter about using the High and Low price as the start of the interval calculation when it is in Flip mode.

It will be included in the June update.

All the best

Mathew

15

Hi

Is there any progress in introducing this stop loss in backtester.