Trading Formula - Trailing Stop - with average true range

Knowing when to exit your stock position is an important part of any traders trading method. An alternative to the percentage method is the Average True Range (ATR) trailing stop.

Trailing Stop ATR - MetaStock Formula (Indicator Builder)

pday:=Input("day of month", 1,31,1);

pmonth:= Input("Month", 1,12,1);

pyear:=Input("Year", 2000,2015,2013);

ATRmult:=Input("ATR mult", 1,20,7);

TSD1:=BarsSince(DayOfMonth()=PDay AND Month() = pMonth AND Year()=pyear);

TSD2:=HighestSince(1,TSD1=0,H);

TSD3:=TSD2-(ATRmult*ATR(15));

HighestSince(1,TSD1=1,TSD3)

With this indicator you simple need to enter the date you entered the trade and your multiplier of the ATR.