I did a little search on this board on how one can adjust the stop loss price of an open (long) order. I mostly found trailing stop (as a fixed percentage or as ATR) or similar algorithms. While using trailing stop is certainly one way, I was wondering if anybody uses the method where (in an uptrend) the most recent trough becomes the support (hence the new stop loss point). I have been thinking on how to implement it, but it does not seem very easy. Has anybody done anything like this? Is there any existing AFL code?
If you have any thoughts on this, or on other ways of adjusting stop loss, kindly share. Thanks.
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Posted by: pinaki_m77@yahoo.com
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