AVERAGE TRUE RANGE TRAIL STOP ON Tradestation?

[Vienna]

I use standalone Tradestation.

I would like to set a trail stop let's say 3x ATR for my positions. Anybody knows how to do this? Do I need to buy an add-on from somebody?

Thanks!

 

[Lightningsmurf]

Doesn't TS6 have an ATR based trailing stop code as part of the canned programs? I think it might have a minimum range that the security needs to travel before the stop kicks in, but you can probably adjust or eliminate this.

 

[Vienna]

Thanks. Tradestation 2000i, version 5.0 it seems. What I try to have is a line on my screen (like a MA) which shows the ATR based stop. Have seen it in publications etc., but have no idea how to get it. It's not one of the canned Tradestation indicators...

 

[Lightningsmurf]

This is a copy of the canned TS6 long exit trailing stop. Hopefully it'll get you started:


{
LX trailing stop based on ATR, activates immediately after entry; profit floor not
required because stop starts out loose; entry-bar protection included.

NOTE: This is not a strict trailing stop because the stop can actually loosen
sometimes instead of always tightening. To convert to a strict trailing stop, ATRVal
should be fixed at the entry-bar for each position.
}

inputs: ATRLength( 10 ), NumATRs( 3 ) ;
variables: ATRVal( 0 ), MP( 0 ), PosHigh( 0 ) ;

ATRVal = AvgTrueRange( ATRLength ) * NumATRs ;
MP = MarketPosition ;

if MP = 1 then
begin
if MP[1] <> 1 or High > PosHigh then
PosHigh = High ;
Sell ( "AtrLX" ) next bar at PosHigh - ATRVal stop ;
end
else
Sell ( "AtrLX-eb" ) next bar at High - ATRVal stop ;


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Enjoy

 

[Vienna]

Thanks so much for your time!