May 19, 2020 at 3:30 pm #58185
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.
ThomasMay 19, 2020 at 3:40 pm #58187
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).
ThomasMay 20, 2020 at 9:09 pm #58195
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.
ThomasMay 20, 2020 at 9:40 pm #58197
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
May 20, 2020 at 9:50 pm #58201
- This reply was modified 1 year ago by Mathew.
Show Stop Tool
– 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.May 20, 2020 at 11:44 pm #58205
WOW, that looks really great and very flexible. Thanks a lot.
I hope I haven’t unnecessarily disrupted your regular work.
ThomasSeptember 17, 2020 at 2:03 pm #59941
I am unable to find “Show Stop Tool” in Optuma.
Does it run by another name?
Thanks, BradSeptember 17, 2020 at 3:21 pm #59943
the “Show Stop Tool” will be a feature in an upcoming version of Optuma. It’s not yet available.
ThomasSeptember 17, 2020 at 9:04 pm #59947
Thanks very much for your reply.
I will eagerly await its appearance.
Any idea how far it is away?
Cheers, BradSeptember 18, 2020 at 7:36 am #59955
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
MathewSeptember 18, 2020 at 7:44 am #59961
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
MathewSeptember 18, 2020 at 6:05 pm #59977
I have just emailed support as you suggested.
Thanks for your help, I look forward to seeing the new indicator.
Cheers, BradApril 30, 2021 at 1:08 pm #63705
Just thinking about the new “Show Stop Tool”, I am unable to find it in Optuma, is it in there by another name?.
Thanks, BradApril 30, 2021 at 3:54 pm #63711
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
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