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Directional Bias Trailing Stop for Amibroker (AFL)
Rating:
3 / 5 (Votes 4)
Tags:
amibroker, stop loss
This indicator was developed by Leon Wilson. It works best applied to weekly charts as a trailing stop and used as part of a trading system.
Indicator / Formula
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/*------------------------------------------------------------------------
Directional Bias Trailing Stop for Amibroker modified from Leon Wilson
-------------------------------------------------------------------------*/
Value3 = Param("Channel Periods",34, 7, 55);
Value4 = Param("OverBought Region",75,55, 90 );
Value6 = Param("Initial Stop",0,0, 10000 );
StpLvl= Param("StopLevel",66,1,236,1); /*Adjust to keep the stop from dropping past the relevant low*/
MCT = (Sum(abs(Close -Ref(Close,-1)),5))/5;
up = PDI(Value3);
down = MDI(Value3);
Index = 100-(100/(1+(up/down+0.0001)));
OB = (Index -Value4);
Bullish = Close-(Close*(OB/100));
DBiasStop = IIf(Bullish >= Close,Low -(Bullish - Close ), Low );
if( ParamToggle("Combine DynamicBR & Directional Bias?", "No|Yes" ) ) DBiasStop = IIf(DBiasStop >= DBRStop, DBiasStop, DBRStop );
DBiasStopARR = HHV(DBiasStop, StpLvl );
StopMCT = DBiasStop - MCT;
StopMCTArr = HHV(StopMCT, StpLvl );
Plot(DBiasStopArr, "", colorBlue, styleThick );
Plot(StopMCTArr, "", colorRed, styleDots ); 0 comments
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