New Trailing Stop Tool

Optuma Forums Optuma Feature Requests New Trailing Stop Tool

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  • #58185
    Thomas
    • Topics: 130
    • Replies: 176
    • Posts: 306

    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
    Thomas
    • Topics: 130
    • Replies: 176
    • Posts: 306

    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
    Thomas
    • Topics: 130
    • Replies: 176
    • Posts: 306

    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
    Mathew
    • Topics: 40
    • Replies: 2,021
    • Posts: 2,061

    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 2 years ago by Mathew.
    #58201
    Mathew
    • Topics: 40
    • Replies: 2,021
    • Posts: 2,061

    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
    Thomas
    • Topics: 130
    • Replies: 176
    • Posts: 306

    Hi Mathew,

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

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

    Thomas

    #59941
    Brad
    • Topics: 10
    • Replies: 19
    • Posts: 29

    Hello,

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

    Does it run by another name?

    Thanks, Brad

    #59943
    Thomas
    • Topics: 130
    • Replies: 176
    • Posts: 306

    Hi Brad,

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

    Thanks,
    Thomas

    #59947
    Brad
    • Topics: 10
    • Replies: 19
    • Posts: 29

    Hi Thomas,

    Thanks very much for your reply.

    I will eagerly await its appearance.

    Any idea how far it is away?

    Cheers,  Brad

    #59955
    Mathew
    • Topics: 40
    • Replies: 2,021
    • Posts: 2,061

    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

    #59961
    Mathew
    • Topics: 40
    • Replies: 2,021
    • Posts: 2,061

    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

    #59977
    Brad
    • Topics: 10
    • Replies: 19
    • Posts: 29

    Hello Matthew,

    I have just emailed support as you suggested.

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

    Cheers, Brad

    #63705
    Brad
    • Topics: 10
    • Replies: 19
    • Posts: 29

    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

    #63711
    Mathew
    • Topics: 40
    • Replies: 2,021
    • Posts: 2,061

    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

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