fxcodebase-backup
Level Stop Reverse
Source: https://fxcodebase.com/code/viewtopic.php?f=17&t=18031
Forum: 17 · Topic 18031 · 21 post(s)
Level Stop Reverse
Apprentice · Wed May 09, 2012 5:05 am
This indicator version provides Audio / Email Alerts for Close/LSR Line Cross. Early Warning System, provides alarm, X number of pips up and down from the LSR line.
Compatibility issue fixed. _Alert Helper is not longer needed.
Level Stop Reverse Overlay.lua
Re: Level Stop Reverse
gainskeeper · Wed May 09, 2012 6:02 am
Thank you Apprentice. Appreciate you doing this. For those that would like to use it, here is how I trade it and tweaking out the false signal or 2 you may get. I use it on euro, swissy, g/y, euro/yen, for the most part. 15 minute chart. I usually only take the signal with the present trend (200/250 ema I use for trend) , 50sma and QQE with a 60 setting. (macd 21/55/9 is very close to the qqe setting) . Example of a trade. Get a long signal, candle must close above 50sma, 200/250 ema must be bullish trend, qqe must also be bullish. Opposite for short signal. Stops and take profits up to the trader. For the active trader 5min chart maybe more suited for you. I do not recommend 1 minute charts or 1hr or above.
Re: Level Stop Reverse
gainskeeper · Wed May 09, 2012 7:50 am
Only change I made was changing the ATR period from 14 to 9, left everything else to default.Some great trades this morning. Any questions just message me. Good luck
Re: Level Stop Reverse
saturn · Tue Aug 28, 2012 5:22 am
Amazing indicator! Thank you! Is it possible to add sound alert when price gets close (10 pips) to the LSR line?
Thanks!
Re: Level Stop Reverse
gainskeeper · Tue Aug 28, 2012 10:10 am
I did make a change on some indicators I was using to take trades. I got rid of the 50sma, got rid of the ema trend indicators (200/250). Instead I have gone with unique Bollinger Bands settings. BB settings 62 periods, .20 deviation and hide the middle or average line. You should now have 2 lines running parallel with each other. Rules of engagment, get a signal, the whole candle including the wick must be completely outside the Bollinger Bands, whether its a buy or sell signal. Place the trade, stop is the opposite side of the Bollinger Band. I like to make the pip difference between my open and stop loss a multiple of five. For instance, if the other side of the Bollinger Band is 23 pips away, I will add an additional two pips on to that number to make it 25 pips. I use a 1/1 risk reward for first target and I move the rest to break even plus spread or use a trailing stop.
Re: Level Stop Reverse
Hailkayy · Tue Aug 28, 2012 2:44 pm
Hi, gainskeeper.
Thanks for your advices. However with your settings BB. The bollinger bands are seable. Too far away from eachother. and not parallel. Eurusd. anytimeframe. I think you have to check settings. 60+ and 20+ seems way too big.
Re: Level Stop Reverse
saturn · Tue Aug 28, 2012 3:51 pm
I think gainskeeper’s settings are 62 periods and 0.20 deviation.
Re: Level Stop Reverse
gainskeeper · Wed Aug 29, 2012 8:04 am
Yes its 0.20 setting. You can also use the bands indicator with same settings as I posted.
Re: Level Stop Reverse
Hailkayy · Thu Aug 30, 2012 6:02 pm
Apprentice.
Could we please get a strategy for this indicator ? No special implementation. Basic stuff.
Thx.
Re: Level Stop Reverse
Apprentice · Fri Aug 31, 2012 4:39 am
Requested strategy can be found here. viewtopic.php?f=31&t=22850
Re: Level Stop Reverse
Apprentice · Fri Aug 31, 2012 5:26 am
Indicator Alert Option Added to Topmost post.
Re: Level Stop Reverse
RJH501 · Fri Aug 31, 2012 8:16 am
When you get time, please check for problem with down arrow. It does not show up when show arrows is set to YES.
Regards,
RJH
Re: Level Stop Reverse
Apprentice · Fri Aug 31, 2012 9:00 am
Bug Fixed.
Re: Level Stop Reverse
Hailkayy · Fri Aug 31, 2012 1:41 pm
Thank you much.
Re: Level Stop Reverse
fxadam · Tue Oct 30, 2012 10:38 am
Hi,
I would like to know if the formula for the LSR is the same like this: ______________________ _Pips:= PipsSymbolPoint(); DeltaStop:= if(Mode=0,Wilders(ATR(atrperiods),atrsmperiods)atrmult,_Pips);
TSL:= if(BarCount()>(atrperiods+atrsmperiods), if(ref(price,-1)>PREV(0) AND price>PREV(0),max(PREV(0),price-DeltaStop), if(ref(price,-1)<PREV(0) AND price<PREV(0),min(PREV(0),price+DeltaStop), if(Cross(price,PREV(0)),price-DeltaStop, if(Cross(PREV(0),price),price+DeltaStop, if(price=PREV(0),PREV(0),PREV(0)))))), NULL); ______________________ Thanks.
Re: Level Stop Reverse
Apprentice · Wed Oct 31, 2012 2:40 am
I believe it is.
Code: Select all
if source.close[period-1] <= LSR[period-1] and source.close[period] < LSR[period-1] then
LSR[period] = math.min(source.close[period]+ Delta, LSR[period-1] );
elseif source.close[period-1] >= LSR[period-1] and source.close[period] >LSR[period-1] then
LSR[period] = math.max(source.close[period]- Delta, LSR[period-1]);
else
Re: Level Stop Reverse
fxadam · Fri Jan 03, 2014 1:28 pm
Well, i do not think so. Can you check it once more please? When I put “my LRS” (formula below) and “yours” LRS and compare the charts, it’s not the same. I am using “my LRS - Trailing Stoploss Reversal Level” from Visual Trading platform and I would like to convert it from Visual Trading into the TSII. Thanks a lot. Adam
Input Variables: 1) Name: price Display Name: Price Type: price Default: close 2) Name: Mode Display Name: Trailing Stoploss Mode Type: Enumeration Default: click […] button, [New] button, then create the following entries: Volatility Pips … then, click [OK] button Default: Volatility 3) Name: atrperiods Display Name: If Volatility, ATR Periods Type: integer Default: 14 4) Name: atrsmperiods Display Name: If Volatility, Wilders ATR Smoothing Periods Type: integer Default: 14 5) Name: atrmult Display Name: If Volatility, ATR Multiplier Type: float Default: 2.8240 6) Name: Pips Display Name: If Pips, # of Pips to Trail Type: integer Default: 20
Output Variable: Var Name: TSL Name: (TSL) Line Color: red Line Width: thin Line Type: dashed
FORMULA: _Pips:= PipsSymbolPoint(); DeltaStop:= if(Mode=0,Wilders(ATR(atrperiods),atrsmperiods)atrmult,_Pips); TSL:= if(BarCount()>(atrperiods+atrsmperiods), if(ref(price,-1)>PREV(0) AND price>PREV(0),max(PREV(0),price-DeltaStop), if(ref(price,-1)<PREV(0) AND price<PREV(0),min(PREV(0),price+DeltaStop), if(Cross(price,PREV(0)),price-DeltaStop, if(Cross(PREV(0),price),price+DeltaStop, if(price=PREV(0),PREV(0),PREV(0)))))),
Re: Level Stop Reverse
Apprentice · Fri Dec 25, 2015 7:01 am
Compatibility issue fixed. _Alert Helper is not longer needed.
Re: Level Stop Reverse
easytrading · Mon Jul 11, 2016 7:21 pm
kindly Apprentice, could we have overlay for LSR.lua please? with many thanks.
Re: Level Stop Reverse
Apprentice · Tue Jul 12, 2016 7:38 am
Level Stop Reverse Overlay.lua Added.
Re: Level Stop Reverse
Apprentice · Mon Aug 27, 2018 4:49 am
The indicator was revised and updated.