What I am trying to accomplish is to create an indicator (OR A SET OF OFFSET RULES) to initiate an EXIT strategy:
Take the High of Last Bar and subtract a multiple of ATR.1 from that high price.
Take the LOW of last bar and ADD a multiple of ATR.1 to that LOW price.
So my exit strategy would be:
On SHORT Trade: Sell at Limt Order IF HIGH(0) >= HIGH(1) - (Mult.*ATR(1)), where limit order price would = HIGH(1) - (Mult.*ATR(1))
On LONG Trade: Sell at Limit Order IF LOW(0) <= LOW(1) + (Mult. * ATR(1)), where limit order price would = LOW(1) + (Mult. * ATR(1))
In strategy wizard, I thought I could do this by stating IF:
HIGH(0) > HIGH(1) with Offset of HIGH = ATR(1) with ATR Period = User Defined and Offset of ATR = Percent and percent = User Defined Input of say -400 to +400 (is that right?? 100 because of percent?)
then,
sell at limit order
Thanks to anyone that can steer me with this kind of simple programming expertise.
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