NF SAR 2DHL; SL to BE >2%

[Trader4242]

Hello Linkon

if you change the code a bit you get to see the cross

change this line 

Plot(tsl, _DEFAULT_NAME(), tsl_col, styleStaircase);

to

Plot(tsl, _DEFAULT_NAME(), tsl_col, styleStaircase,0,0,1);

 

[linkon7]

Hello Linkon

if you change the code a bit you get to see the cross

change this line 

Plot(tsl, _DEFAULT_NAME(), tsl_col, styleStaircase);

to

Plot(tsl, _DEFAULT_NAME(), tsl_col, styleStaircase,0,0,1);

good improvement...:thumb:

 

[AW10]

Good strategy. Since SAR is the approach, 1 bad exit, can set you back by a day's range.

Guppy's count back method would be a nice alternative for the stop loss.

http://techtraderreport.com/Articles/CountBack/GuppyCountBack.html

another alternative...

_SECTION_BEGIN("Price");
SetChartOptions(0,chartShowArrows|chartShowDates);
_N(Title = StrFormat("{{NAME}} - {{INTERVAL}} {{DATE}} Open %g, Hi %g, Lo %g, Close %g (%.1f%%) {{VALUES}}", O, H, L, C, SelectedValue( ROC( C, 1 ) ) ));
Plot( C, "Close", ParamColor("Color", colorBlack ), styleNoTitle | ParamStyle("Style") | GetPriceStyle() ); 
_SECTION_END();

_SECTION_BEGIN("KPL");
//AFL by Kamalesh Langote. Email:[email protected]
no=Param( "Swing", 2, 1, 55 );
tsl_col=ParamColor( "Color", colorCycle );

res=HHV(H,no);
sup=LLV(L,no);
avd=IIf(C>Ref(res,-1),1,IIf(C<Ref(sup,-1),-1,0));
avn=ValueWhen(avd!=0,avd,1);
tsl=IIf(avn==1,sup,res);

Plot(tsl, _DEFAULT_NAME(), tsl_col, styleStaircase);

Buy=Cross(C,tsl);
Sell=Cross(tsl,C);
shape=Buy*shapeUpArrow + Sell*shapeDownArrow;
PlotShapes(shape,IIf(Buy,tsl_col,tsl_col),0,IIf(Buy,Low,High));
_SECTION_END();

Linkon, thanks for the article from Guppy.
Observation on the chart.. if Redline is STOP loss line, then why is it going down on a long trend. As I understand, stops move only in the direction of the trend, i.e. for long trade, they are always moved to higher value.

Take the last Long trades on the right of this chart, where near 5300 top (doji/hammer bar), it started coming down. Actually it shd have been hit and given a short trade there.

Or, am I missing something ?

Happy Trading

 

[linkon7]

Linkon, thanks for the article from Guppy.
Observation on the chart.. if Redline is STOP loss line, then why is it going down on a long trend. As I understand, stops move only in the direction of the trend, i.e. for long trade, they are always moved to higher value.

Take the last Long trades on the right of this chart, where near 5300 top (doji/hammer bar), it started coming down. Actually it shd have been hit and given a short trade there.

Or, am I missing something ?

Happy Trading

Say, we are going for the swing high / low of the last 2 days, then the highest high of the last 2 days becomes the resistance and the lowest low becomes the support.

We are going only by the close of the existing bar and if the close of the bar is above the resistance, then it becomes a buy and then a close below the support becomes the SAR...If the support is touched, but a close of the bar is above the support, then we hold the long, with new support at the low of the last bar...

This helps in avoiding whipsaws and tries to keep us in the trade for as long as trend is not reversed on a closing basis....

btw, the guppy count back method is one of the best i seen for trailing SL... i am trying to make a afl for that. Its to be used with Guppy MMA. I'll migrate to stocks... once that is complete...!

 

[trader.trends]

Say, we are going for the swing high / low of the last 2 days, then the highest high of the last 2 days becomes the resistance and the lowest low becomes the support.

Linkon
Thanks for the article in Guppy's method. I am following the touch of HH/LL of the last two days as my SAR and not waiting for a close above or below the 2dH/L. Else, it can make the entry a little far into the trend if the close is way beyond the 2dH/L.

Guppy's method is not the highest high or the lowest low of the last two days as you have mentioned. It is the greater of the 2 higher highs or lesser of the 2 lower lows preceding the current bar. It can go back to more than 2 days. If today is day 0, we go back to find a bar whose high exceeds today's. That would be the first bar not necessarily yesterday's bar. Then we travel further to find a high exceeding the first bar which can go back more than two days theoretically.
Perhaps I should back test that too and check the result.

 

[linkon7]

Linkon
Thanks for the article in Guppy's method. I am following the touch of HH/LL of the last two days as my SAR and not waiting for a close above or below the 2dH/L. Else, it can make the entry a little far into the trend if the close is way beyond the 2dH/L.

Guppy's method is not the highest high or the lowest low of the last two days as you have mentioned. It is the greater of the 2 higher highs or lesser of the 2 lower lows preceding the current bar. It can go back to more than 2 days. If today is day 0, we go back to find a bar whose high exceeds today's. That would be the first bar not necessarily yesterday's bar. Then we travel further to find a high exceeding the first bar which can go back more than two days theoretically.
Perhaps I should back test that too and check the result.

Guppy's count back method is different...I'm yet to make a afl for that.

This method of highest high of the last 2 days is a method developed by kamlesh. Its good and i use it intraday in 2min TF and swing of 5.

 

[AW10]

Say, we are going for the swing high / low of the last 2 days, then the highest high of the last 2 days becomes the resistance and the lowest low becomes the support.

We are going only by the close of the existing bar and if the close of the bar is above the resistance, then it becomes a buy and then a close below the support becomes the SAR...If the support is touched, but a close of the bar is above the support, then we hold the long, with new support at the low of the last bar...

This helps in avoiding whipsaws and tries to keep us in the trade for as long as trend is not reversed on a closing basis....

btw, the guppy count back method is one of the best i seen for trailing SL... i am trying to make a afl for that. Its to be used with Guppy MMA. I'll migrate to stocks... once that is complete...!

I see the approach as given here. But I will find it difficult to trade cause, my stops should be know and order placed in advance. So if my today's stops is low of last 2 days, then that's where is my stop trigger order placed before next bar opens i.e. tomorrow mkt start, in case of daily chart trades. so even if this level is hit intraday, I am out of the trade. Otherwise, tomorrow can give 8% or limit down day and I am still waiting for bar close to figure out the next action.. How will Stoploss order serve the purpose there ?
That's is as per my belief and my trading. Though some people with different belief may live with the approach as you have explained.

Happy Trading

 

[linkon7]

I see the approach as given here. But I will find it difficult to trade cause, my stops should be know and order placed in advance. So if my today's stops is low of last 2 days, then that's where is my stop trigger order placed before next bar opens i.e. tomorrow mkt start, in case of daily chart trades. so even if this level is hit intraday, I am out of the trade. Otherwise, tomorrow can give 8% or limit down day and I am still waiting for bar close to figure out the next action.. How will Stoploss order serve the purpose there ?
That's is as per my belief and my trading. Though some people with different belief may live with the approach as you have explained.

Happy Trading

Since its daily TF, positions are taken in the last 10 min between 3'20 to 3'30.

 

[trader.trends]

I see the approach as given here. But I will find it difficult to trade cause, my stops should be know and order placed in advance. So if my today's stops is low of last 2 days, then that's where is my stop trigger order placed before next bar opens i.e. tomorrow mkt start, in case of daily chart trades. so even if this level is hit intraday, I am out of the trade. Otherwise, tomorrow can give 8% or limit down day and I am still waiting for bar close to figure out the next action.. How will Stoploss order serve the purpose there ?
That's is as per my belief and my trading. Though some people with different belief may live with the approach as you have explained.

Happy Trading

Exactly my concern and the reason for keeping 2D H/L as SAR. Reverse trades the moment SAR is hit during Intraday.

 

[Trader4242]

Guppy's count back method is different...I'm yet to make a afl for that.

This method of highest high of the last 2 days is a method developed by kamlesh. Its good and i use it intraday in 2min TF and swing of 5.

Link for a Guppy's count back method plugin http://www.aussiestockforums.com/forums/showthread.php?t=2452

but you need to join the forum, if you want to avoid all that

direct download link from here Download the Plugin for Guppy CountBack Trailing Stop Loss Trading System