New Trailing Stop Tool

Optuma Forums Feature Requests New Trailing Stop Tool

Viewing 6 posts - 1 through 6 (of 6 total)
  • Author
    Posts
  • #58185
    AvatarThomas
    • Topics: 59
    • Replies: 84
    • Posts: 143

    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

    #58187
    AvatarThomas
    • Topics: 59
    • Replies: 84
    • Posts: 143

    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

    #58195
    AvatarThomas
    • Topics: 59
    • Replies: 84
    • Posts: 143

    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

    #58197
    MathewMathew
    • Topics: 28
    • Replies: 1,335
    • Posts: 1,363

    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

    • This reply was modified 1 week ago by MathewMathew.
    #58201
    MathewMathew
    • Topics: 28
    • Replies: 1,335
    • Posts: 1,363

    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.

    #58205
    AvatarThomas
    • Topics: 59
    • Replies: 84
    • Posts: 143

    Hi Mathew,

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

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

    Thomas

Viewing 6 posts - 1 through 6 (of 6 total)
  • You must be logged in to reply to this topic.

Pin It on Pinterest

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close