Trailing stop for decline of 8% from recent high

Author: rupammodi

Creation Date: 2/18/2009 11:31 AM

Wealth Lab » WealthScript (.NET) » Trailing stop for decline of 8% from recent high

rupammodi

2/18/2009 11:31 AM

I want to write a trailing stop script for the stock decline of 8% from recent high while purchasing the stock. I want to incorporate the stop loss prices rise proportionately with the stock price rise. If the stock price falls, the stop loss stays in place. I am new to WealthLab .net script so any help is appreciated.

Eugene

2/18/2009 12:37 PM

The hard way:

CODE:
Please log in to see this code.

The simple way:

CODE:
Please log in to see this code.

Size:

Color:

The hard way:
[CODE]using System;
using System.Collections.Generic;
using System.Text;
using System.Drawing;
using WealthLab;
using WealthLab.Indicators;

namespace WealthLab.Strategies
{
	public class TrailingStop : WealthScript
	{
		private StrategyParameter paramStop;
		
		public TrailingStop()
		{
			paramStop = CreateParameter("Stop %", 8, 2, 10, 1);
		}
		
		protected override void Execute()
		{
			/*I want to write a trailing stop script for the stock decline of 8% from recent high while purchasing the stock. 
			I want to incorporate the stop loss prices rise proportionately with the stock price rise. 
			If the stock price falls, the stop loss stays in place.*/
			
			double stop = paramStop.Value;
			PlotStops();
			
			for(int bar = 40; bar < Bars.Count; bar++)
			{
				if (IsLastPositionActive)
				{
					Position p = LastPosition;
					double myStop = MyTrailingStop( Bars, bar, p, stop );
					ExitAtTrailingStop( bar+1, p, myStop );
				}
				else
				{
					BuyAtStop( bar+1, Highest.Series( High, 40 )[bar] );
				}
			}
		}
		
		public double MyTrailingStop(Bars bars, int bar, Position p, double decline)
		{
			// check correctness of critical parameters
			if( (p == null) || (!p.Active) || (bar < p.EntryBar) || (bar > bars.Count - 1))
				return 0.0;
  
			// compute stop level
			double stop = 
				( p.PositionType == PositionType.Long ) ? p.HighestHighAsOfBar( bar ) * (1d - ( decline / 100d )) : 
				p.LowestLowAsOfBar( bar ) * (1d + ( decline / 100d ));
			return stop;
		}
	}
}[/CODE]

The simple way:
[CODE]using System;
using System.Collections.Generic;
using System.Text;
using System.Drawing;
using WealthLab;
using WealthLab.Indicators;

namespace WealthLab.Strategies
{
	public class TrailingStop : WealthScript
	{
		protected override void Execute()
		{
			PlotStops();
			
			for(int bar = 40; bar < Bars.Count; bar++)
			{
				if (IsLastPositionActive)
				{
					Position p = LastPosition;
					SellAtTrailingStop( bar+1, p, p.HighestHighAsOfBar( bar ) * 0.92 );
				}
				else
				{
					BuyAtStop( bar+1, Highest.Series( High, 40 )[bar], "test entry" );
				}
			}
		}
	}
}[/CODE]