Date/Time: Wed, 29 Jun 2022 22:37:01 +0000
Trade by Management
View Count: 72
|User871209 - Posts: 26|
When using Trade by Management in conjunction (Controlling Subgraph Reference) with SuperTrend it places Dashes on chart that are used for trailing the Stops.
If the price moves a little in the opposite direction the Dash disappears and it closes the position.
I have set:
Only Modify Stop In One Direction set to Yes.
Position Type: Set to only either Short or Long depending on the entry.
Is there a way that if the Dash disappears when the price fluctuates a little bit it will not close position and just leave stop at the current level it is in?
Usually, this only happens with the first and second Dash line as after the third and following Dashes it won't have this effect of closing position.
|John - SC Support - Posts: 17026|
With the Super Trend Stop study when the price moves the opposite direction the position of the Stop can flip to the other side of the bar, in so doing, for a Short position, this would move the stop below the current price which would close out your position.
Therefore, if you want to use the Super Trend Stop study, then you would either need to find a way to "buffer" the line in case it flips, or change the code for the study so that it is only calculating for one type of position (long or short).
In terms of buffering, you would want to use the Spreadsheet Study and then check the price of the line against the current price and use the previous value if it has flipped sides. For example, you would enter the following formula for a short position:
=IF(ID1.SG1@3 <= ID0.SG4@3, ID1.SG1@4, ID1.SG3)
Where ID1.SG1 is the Super Trend Study and Subgraph and ID0.SG4 is the Close/Last of the bar.
Refer to the following for the Spreadsheet Study in general:
Using the Spreadsheet Study
And refer to the following for how to reference Studies and Subgraphs in the Spreadsheet Study (to explain the ID1.SG1@3 and @4 items):
Working with Spreadsheets: References to Study Subgraph Columns when using the Spreadsheet Study
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