MetaStock Formula - Trailing Stop Limit Formula - %

Knowing when to exit your stock position is an important part of any traders trading method. One strategy is to exit when the stock drops x% below the highest close since entering the trade.


Trailing Stop Limit %- MetaStock Formula (Indicator Builder)
pday:=Input("day of month", 1,31,1);
pmonth:= Input("Month", 1,12,1);
pyear:=Input("Year", 2005,2015,2013);
ppercent:=Input("percentage fall", 1,20,5);
TSD1:=BarsSince(DayOfMonth()=PDay AND Month() = pMonth AND Year()=pyear);
TSD2:=HighestSince(1,TSD1=0,H);
TSD3:=TSD2-.01*ppercent*C;
HighestSince(1,TSD1=1,TSD3)

With this indicator you simple need to enter the date you entered the trade and your percentage.