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ATR Stop or DEVSTOP for Metastock
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metastock, stop loss, atr
Here’s what I think a DEVSTOP is in Metastock language, described in Kase’s “Trading with the Odds”, and better described in Kaufman’s “Trading Systems and Methods”. It uses a 2-day range, calculates an average range and SD of the range, and then draws 4 lines below the high, at 1 range and 0,1,2, and 3 SD’s. “2.2” and “3.6” are corrections for skew of the distribution. Mike Lucero
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AVTR:=Mov(HHV(H,2) - LLV(L,2),20, S); SD:=Stdev(HHV(H,2) - LLV(L,2),20); HHV(H-AVTR-3.6*SD,20); HHV(H-AVTR-2.2*SD,20); HHV(H-AVTR-SD,20); HHV(H-AVTR,20);
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