Topic: Questions about Stop Limit and reversals


I have 2 questions:
1. I can't find how to set a stop limit or trailing stop when creating a strategy. I'm using version
- in addition, I would like to be able to calculate the stop limit and trailing stop, like:  3*ATR. Is there a way to do this? If not, can you add that feature in the future?

2. I set up a strategy using ADX and the directional indicators. I read that you automatically adjust the parameters for going short. However, with ADX, it measures the strength of the trend. So, is my assumption correct:
ADX > 20
DI+ crosses DI- upward

for a short position your reverse logic is:
ADX < 20
DI+ crosses DI- downward

If this is the case, then the short positions are at a disadvantage. The short position should really be:
ADX > 20
DI+ crosses DI- downward


I am also in the camp of wanting money management. MM can make a losing system profitable. Normally, this is calculated based on a percentage of your account. It might be possible to base it off of your cumulative pips, although, you would need to start with some amount of pips in your account.

Thanks! Great software, especially for free!

Re: Questions about Stop Limit and reversals

ADX shows strength of the trend regardles of its direction.
So, the logic conditions of ADX allow entering (both short and long) when they are satisfied.

ADX cannot specify the direction of your trade. It gives the permision only (in both directions)

The ADX works exactly in the way you wrote above!

Enter long:
        ADX > 20
        DI+ crosses DI- upward

Enter Short:
        ADX > 20
        DI+ crosses DI- downward

Thanks anyway for the good assumption!

Re: Questions about Stop Limit and reversals

Trailing Stop

Could someone tell me if I'm using the Trailing Stop Close correctly? It seems to me to be setting a stop, say 35, then moving (trailing) that stop with each (1) positive pip. In other words, if my position moves 5 pips into profit, my 35 pip stop loss would move 5 pips. I would then have a 30 pip loss if the position reversed completely on me. Is this correct?

And if so, can someone tell me where I can get an EA for MetaTrader that functions the same way, i.e. moves my stop one pip at a time. MT's trailing stop doesn't function this way and the success of my strategy depends heavily upon using a trailing stop close.

Thanks for a great program!