swing stops

Optuma Scripting
1

Hi folks I currently have market analyst 7.5. So the request is, Is their a way to use the swing points as references for stops. So can I formulate a stop based on an entry where it crosses above a swing top, but put my stop for the same trade below the previous two lower swing bottoms, as per the picture. Obviously I want to be able to use this in system tester etc. thanks

gann swing stops

2

Hi Tim,

The Optuma scripting language is not available in 7.5 but if you upgrade then these values can be calculated by the program. It may be possible to script like this:

G1 = GANNSWING(SWINGCOUNT=2, METHOD=Use Next Bar, USEINSIDE=False);

S1 = SWINGEND(G1);

CLOSE() < S1[3]

where S1[3] is the swing start value 3 swings ago (assuming the current swing is up). In the example below S1[3] is 884.49, which matches the watchlist column being calculated by the script.

Capture

However, when the next swing down develops this low will then be 4 swings ago - S1[4] - and S1[3] will have a value of 910.50, thereby incorrectly triggering the exit when the close is below that value.

As such, I don’t think we’ll be able to automate this swing stop strategy using the scripting language.

3

Hi Darren.

 

thanks for the reply. So just to be sure. I am not after a trailing stop. Your saying there is no way to lock in the value of the original swing stop.

 

thanks

4

Hi Tim,

No you can’t automatically lock in that value. You would need to hardcode the formula eg CLOSE() CrossesBelow 884.49