Package: Multi-Level Trailing Stops

Use of a trailing stop is a common way to protect a profit while still giving an evolving trade a chance to catch a big move.

But, is a single trailing stop flexible enough to manage an evolving trade over its lifetime?

Perhaps it would be advantageous to tighten the trailing stop as your trade reaches a series of goals.  Or, perhaps you would like to loosen the trailing stop as less of your starting capital and more of the "market's money" is at risk..

Have you tested your favorite trading guru's recommendation for how to manage trailing stops over the life of a trade?   If not, perhaps it is time you did ...

What It Is

This package offers two new strategies (standard, and IOG version) whose purpose is to allow you to define different trailing stop starting levels and ratchet amounts to become active over the life of your trade.

The standard version evaluates your trade at the end of each bar, adjusting the stop trail amount and ratchet amount according to the price or time levels that you have set.

The IOG version (Intrabar Order Generation) can actually reset your stop trail and ratchet amounts during a still unfinished bar.

When varying your stops according to price, each new trailing stop definition is brought into play when the market trades at or beyond one of your defined price levels.

When varying your stops according to time, each new trailing stop definition is brought into play when the bars since entry of your trade passes one of your defined bar-count levels.

Special Features

This strategy is not only a great trailing stop laboratory "right out of the box", but because the level processing logic is written in a generic way, and because two different scenarios are embedded in the strategy (price levels, and time levels), you will be able to see by examining the code exactly how to make your trailing stop behavior change based on nearly any set of conditions that you might imagine.

Also, the strategy is designed for "smart optimization".  Each level is specified as an increment beyond the previous level, so you can optimize across as many levels as you are interested in without worrying about creating redundant or non-sensical output.

What It Looks Like

Observe the yellow 1's and 2's - these indicate your active trailing stop definition level activations.  (You may show or suppress the numbers on the chart.)  The strategies are delivered with 3 levels ready to go, with "plumbing" in place for six levels.  With minor changes to the code, any number of levels can be accommodated.

Additional features include

The end-of-bar strategy works with stocks, futures, and FX, on both daily and intraday charts, with TradeStation® 8.0 (and later).  The IOG version requires TradeStation® 8.1 (or later).  Both versions are included in your package.

What You Get

Full Source Code  to the strategies, delivered as a single .ELD file.  Just import it and it is ready for use. 

Sample workspaces containing demo charts with the strategies already applied, to get you up-and-running quickly.

Customer Support to help answer any questions you have about installation or usage.

What It Costs

$250 gets your Trailing Stops out of the freezer and onto the playing field.   The market is dynamic, shouldn't your Trailing Stops be?

How You Get It

This package will be emailed to you after your PayPal payment is processed. Please be aware of the caveats before you order.