I have used standard ATM strategies (with my own parameters) in DOM and charttrader for discretionary trading. However, I have found that they do not offer enough for my trading needs and I would like a more custom ATM. Is there a way to code my own ATM but access it and enter a trade in discretionary fashion from the chart or DOM?
For example, I want to have a trailing stop that trails the last bars low by two ticks in a long position. With the ATM strategies they move the stop up based on how many ticks the high of the bars reach, not the lows. In other words, how many ticks away from entry (profit trigger) is how many ticks back the trailing stop is placed, based on your "stoploss" parameters. This stops me out when volatility is high as each bar may have tremendous range within a bar. The bar may have a higher low than the previous bar but because it travels 10 ticks in one bar my stop is hit. Of course I could keep the trailing stop level wider, but that is not the goal.
Thanks for any help.
For example, I want to have a trailing stop that trails the last bars low by two ticks in a long position. With the ATM strategies they move the stop up based on how many ticks the high of the bars reach, not the lows. In other words, how many ticks away from entry (profit trigger) is how many ticks back the trailing stop is placed, based on your "stoploss" parameters. This stops me out when volatility is high as each bar may have tremendous range within a bar. The bar may have a higher low than the previous bar but because it travels 10 ticks in one bar my stop is hit. Of course I could keep the trailing stop level wider, but that is not the goal.
Thanks for any help.
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