Trader Nexus Adv Trail Stop

[weird]

I am interested in testing a Chandelier Exit trailing stop loss and am attempting to try this with the free software Trader Nexus: ADVANCED TRAILING STOP, Dale has been so generous to provide.
I am trying to apply this to a long term trending system.

1. The initial stop loss is 10% loss on purchase price. If this is the case do I still need a value for the Initial stop ATR multiplier ?

2. As the system is for long term trending, I am guessing to use a value of Trailing stop ATR multiplier from High : 4

How would I implement this in Tradesim using the AdvancedStop.StopLong external function ?

Any help much appreciated.

[Jose]

Weird, if you want to use Richard's Advanced Trailing Stop dll at http://www.tradernexus.com/advancedstop/advancedstop.html , you don't need to use the Tradesim.TrailingStop function.

Try modifying some of the MS code at http://www.metastocktools.com/#metastock , "System/signal indicators" section, "Std trailing stop" & "ATR trailing stop" links.

jose '-)

[weird]

Thanks Jose

Chandelier Exit : "exit a long position at either the highest high since entry minus 3 ATRs or at the highest close since entry minus 2.5 ATRs."

I will investigate your examples and also review the TradeSim Application note,"Implementing Volatility Trailing Stops the Simple Way".

[weird]

Hi Jose

Will this work ?

I have hacked the code from
http://www.paritech.com/paritech-site/education/technical/custom/trading/chandelier.asp

EntryTrig:=ExtFml("TradeSim.Rand")>0.5;
EntryPrice:=OPEN;

Trade:= If(PREV <= 0,
If(EntryTrig, CLOSE, 0),
If(LOW <= HighestSince(1,PREV=0, HIGH) - 3 * ATR(10), -PREV,
If(LOW <= HighestSince(1,PREV=0, CLOSE) - 2.5 * ATR(10), -PREV, PREV)));

InitialStop:=0;

ExitTrig:=Trade < 0;

ExitPrice:=OPEN;

ExtFml("TradeSim.Initialize");
ExtFml("TradeSim.EnableDelayofEntryByOneBar");
ExtFml("TradeSim.EnableDelayofAllExitsByOneBar");

ExtFml( "TradeSim.RecordTrades",
"TEST Chandelier Exit",
LONG,
EntryTrig,
EntryPrice,
InitialStop,
ExitTrig,
ExitPrice,
START);

Many thanks in advance.

[Jose]

The main point of using either Richard's Advanced Trailing Stop dll or the Tradesim.TrailingStop function, is to get away from the MS Prev function.

Each Prev function slows down processing considerably. Six of them as per your formula, will grind backtesting to a halt.

jose '-)