Trailing Stop - MetaStock Formula

For any person who has entered a trade of any type they would be well aware of the importance of knowing when to exit the trade.

One of the techniques used to determine your stop level is the trailing stop something that is simple in theory but much more difficult to follow in practise. To assist you with using the trailing stop method I have included the metastock formula below using the Average True Range of the stock to determine the maximum difference between the close the stop level:

Trailing Stop Formulapday:=Input("day of month", 1,31,1);
pmonth:= Input("Month", 1,12,1);
pyear:=Input("Year", 2000,2011,2010);
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)




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