Code ATR Ratchet in EasyLanguage

[Code ATR Ratchet in EasyLanguage]

You are very welcome

[Code ATR Ratchet in EasyLanguage]

Let me know if this is what you are looking for.

 

Lukas

ATR R.ELD

[Is Optimizing Profit Target & Stop Loss Curve Fitting?]

To find SR you can use something like this:

 

vars: 	Support	 (0), 
Resistance (0);


Resistance  = highest(H,Length)[1];
Support = lowest(l,Length)[1];


if Resistance<>Resistance[1] 	then Resistance = highest(h,Length)[1];
if Resistance=Resistance[1] 	then Resistance = Resistance[1];

If Support<>Support[1] 	then Support = lowest(l,Length)[1];
if Support=Support[1] then Support = Support[1];

[Is Optimizing Profit Target & Stop Loss Curve Fitting?]

Tto find support and resistance, you can use someting like that:

 

 

vars: 	 Support	    (0), 
 Resistance   (0);


Resistance = highest(H,Length)[1];
Support 	 = lowest(l,Length)[1];


if Resistance<>Resistance[1] 	then Resistance = highest(h,Length)[1];
if Resistance=Resistance[1] 	then Resistance = Resistance[1];

If Support<>Support[1] 	then Support = lowest(l,Length)[1];
if Support=Support[1] 	then Support = Support[1];

[Is Optimizing Profit Target & Stop Loss Curve Fitting?]

You can use the support and resistance as first exit.

 

Second exit you can make by taking w. average range for 100 days and multiple it by 1.5 or something like that if the stop is too small, and profit target multiply by 5. This way, the stop and profit will adopt to the changing market.

[Is Optimizing Profit Target & Stop Loss Curve Fitting?]

Any optimization is a curve fitting, if is done without forward testing.

 

Never base your profit target on fixed amount, because the bars range change every day, every month and every year - they are different in size.

By optimizing, you are trying to find best values, but those values may be on the edge of the bars, so simply speaking, is better to be out, than miss big profits,

when last bar range were big enough to take $1500 instead of $500.

 

You can add a condition, that if the possible profit factor is less than your stop * 2, then do not take the trade.

 

Luk