1 Topic by archeolog108 (edited by archeolog108 2017-12-03 09:00:20)

  • Registered: 2013-07-31
  • Posts: 17

Topic: How to program TP, SL or BE as a function of volatility?

Hi

Since EUR USD have average daily range of 60 or so pips and EUR NOK has 700 pips, how do I program TP for example instead of 551 which would work great for EUR USD (but not for EUR NOK) as 10 times average daily range? Also BE or SL....

Fixed pips amount doesn't work when constructing portfolio of different markets like CFDs of bonds, wheat, stocks... Robust strategy should work great for them all.

  • Registered: 2016-05-16
  • Posts: 190

Re: How to program TP, SL or BE as a function of volatility?

Hi,
I miss same thing for long time, this kind of indicator is in the first place in my "to get list". Now we have "ATR stop" for exit, but no TP or BE. If you know how to program it is good place to start, buy copying and reworking this "ATR stop". However for me it is too challenging, so I would probably ask Footon for paid or free coding service
here : https://forexsb.com/forum/forum/30/tech … ndicators/ . I would be happy to pay some money if needed together with you and mr Footon could make dynamic thing by our request and upload it in repository. I bet it would not be expensive.

Moreover I think there is a need to make this kind of indicator for closing logic condition, also with closing point, to choose for trader. For closing logic condition with bar closing point you still can use different closing logic with grouping. Also I am recent fan of using bar open strategies so using this kind of indicator only for exit point is not an option for me smile

  • Blaiserboy
  • Blaiserboy
  • Junior Part-Time Aspiring Space Cadet
  • Offline
  • From: Toronto
  • Registered: 2010-09-06
  • Posts: 2,837

Re: How to program TP, SL or BE as a function of volatility?

I will contrubute

My 'secret' goal is to push EA Studio until I can net 3000 pips per day....

Blaiserboy's Website