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Hi Tom
Apologies for the previous incomplete message.... fat fingers!
I was hoping you could assist with the following:
- I would like to use Spreadsheet System for Trading to apply a trailing stop based on the last trade less Trailing Offset
- if long Stop to rise if Last > Last -1
- if long Stop to remain at same level if Last < Last -1
eg Assume offset = 10
time period 1, L=1000 Stop =990
time period 2, L=1025, Stop = 1015
time period 3, L=1020, Stop = 1015
time period 4, L= 1000>>>>>>>>>>>Stop would have been triggered at 1015
For completeness, I understand the Trade Management by Study may be helpful, but I can't make this work (I think because I connect via FXCM who don't support SC trailing stops).
Thanks in advance for your help
Can you help answer these questions from other members on NexusFi?
The easiest way to do this is by using the Trade Management by Study study that references a formula in row 3 of a Formula Column. This method will allow you to use Attached Orders so that the stop and target are OCO.
The formula in row 3 of a Formula Column would return the stop's price, updating at each period. This will need to be a persistent variable so that the latest value is always in row 3.
Assuming you use P3, try this:
=IF(K3,E4-$J$21*10,IF(E3>E4,E4-$J$21*10,IF(E3<=E4,P4,P4)))
This is not tested, and you will probably need to modify it.
It is easiest if you use two instances of the Trade Management by Study study, referencing two Formula Columns, one for longs and one for shorts.
If you cannot use the Trade Management by Study study because of FXCM limitations, use the same formula in a Formula Column, and in cell L3, compare it to E3, like this:
=E3<=P3
Hi Tom,
Trying to implement an intracandle stop idea, and I think it cant be done because its intracandle.
Because was seeing some losses with 0 Max Open profit ticks and -50 Max Open loss (stop was at 50), was looking to establish a limit using the ratio of Max open profit to the current loss.
So would like to cut losses if the ratio exceeds e.g. 1/10:
1 Max Open profit and -10 current loss, (or 2/-20, etc.),
but unable to store the Max open profit intracandle.
There is no way to store an intrabar value in a spreadsheet study, but you don't need to store the intrabar Open P/L (J10) if you are exiting intrabar.
If the ratio meets the criteria intrabar, it will exit intrabar, if:
- You are using L3/N3 and Signal Only On Bar Close (L,N) is No, or
- You are using J29 (and referencing Row 3 in the formula if needed), regardless of the Signal Only On Bar Close (L,N) setting.
Give me an example of the ratio formula you are using.
Hi Tom,
After some thinking, the ratio is 1 to 1, with an offset.
Drew a picture to help explain, though this stop strategy may be a bit convoluted, but wanted to try it, if it can be done.
The idea of its effectiveness may be just as convoluted
Excuse the scaling of the drawing
The stop offset is 6, and is shown as the initial stop.
The stop gets reset lower once the profit has reached past 6, at 7.
And again at 8, before hitting the fixed target.
The consideration here is storing the 7 and 8, again not sure this can be done in spreadsheets as it would be intracandle.
It would involve using =$J$10/$J$56 to determine the # of ticks in profit, the 7 and 8, but since the J's are always moving, not sure it can be stored without some ACSIL magic.
You'd need a separate one for each MFE step, or find a way to reset it after each step.
I can tell you from experience, this will get very complicated/complex.
Hi Tom, got a question that I think is tangential to what you wrote here - do you see it as possible for multiple Chartbooks, each containing at least 1 Chart with studies applied for auto-trading, to have one Spreadsheet SfT study that contains a sheet for each Chart across the 'books?
I'd like to have a global/'master' spreadsheet as the sole point of order management, instead of one spreadsheet per Chartbook.