Did that Title get your Attention?
I didn’t say a very good Free System! This code is really cool so I thought I would share with you. Take a look at this rather cool picture.
Thanks to a reader of this blog (AG), I got this idea and programmed a very simple day trading system that incorporated a volatility trailing stop. I wanted to make sure that I had it programmed correctly and always wanted to draw a box on the chart – thanks to (TJ) from MC forums for getting me going on the graphic aspect of the project.
Since I have run out of time for today – need to get a haircut. I will have to wait till tomorrow to explain the code. But real quickly the system.
Buy x% above first y bar high and then set up a trailing stop z% of y bar average range – move to break-even when profits exceed $w. Opposite goes for the short side. One long and one short only allowed during the day and exit all at the close.
What the heck here is the code for the Strategy.
And the code for the Strategy Tracking Indicator.
Very Important To Set Indicator Defaults Like This
For the BO Box use these settings – its the first 4 plots:
The box is created by drawing thick semi-transparent lines from the BuyBo and BuyBOXTND down to ShrtBo and ShrtBOXTND. So the Buy components of the 4 first plots should be Bar High and the Shrt components should be Bar Low. I didn’t specify this the first time I posted. Thanks to one of my readers for point this out!
Also I used different colors for the BuyBo/ShrtBo and the BuyBOXTND/ShrtBOXTND. Here is that setting:
The darker colored line on the last bar of the break out is caused by the overlap of the two sets of plots.
Here is how you set up the trailing stop plots: