Hi, I want to create a system that uses the HHV and LLV values
My trailing stop, is the highest value of the lowest low until the close is less than this value
a=LLV(Low,6);
b would be the highest of a (a trailing stop as it were) of the LLV until the close is lower.
My buy is similar in that the close>Lowest HHV(High,6) so a trailing stop of the highs
i can't find a highest function, there is a highest since but cant see how to bring this into my formula
OK thanks, not quite what i had in mind only because the use of the LLV over any period is still likely to fall, after the 6th period for example
whereas i dont want it to fall
I'll still try to use the above. thanks for the response however, its very much appreciated
apologies for not being more precise
lets say the LLV(low) over a time period are 4,4,4,5,4,5,3,4,4.....
The highest of this series is 5. I don't want my value to get lower until my close falls below this (5), so i want the highest of any series (irregardless of time) until the close falls below...ie its the same as a trailing stop, can only keep getting higher or stays the same
by using the highest LLV(6) i will get 5, until llv becomes 3, then it will go back up to 4.
hopefully that makes sense. im trying to create a trailing stop, it can never get lower, until that stop is hit
I can't use the HHV(LLV,L,12) as that means the stop is not as close as 6, so i cant use a longer lookback period
Given your example, the highest of llv is 5 but the close price of the other bars could be lower than 5. The first bar has a low of 4 but the close could be 4.5, which is lower than 5. So that does not make sense with " I don't want my value to get lower until my close falls below this (5)".
in this series, yes you are right, the close be less and thats absolutely fine, thats the point of a trailing stop
the first bar has a low of 4, so this would be my highest low. next is 4, next is 4 etc etc until 5. now my highest low is 5. then its 4, but my highest low is still 5, then its 3, my highest low is still 5..its trailing until my close closes less than 5.
if i used a llv(low,6) clearly i have a low of 4,4,4,4,5,3..now my stop is getting lower. so now if my close was 3 i should have been stopped out..thats not a trailing stop.
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