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Monday, January 28, 2013

TIS_MultiTrail Indicator for Ninjatrader

TIS_MultiTrail Indicator for NinjaTrader
... a Tool to Manage Trailing Stops

Once we have cashed out the First Target of our trade, one of the most difficult tasks to achieve is optimizing the performance of our runners.
I call runners to those positions without a defined target, where we keep moving the stop trying to stay in the market the most part of the trend.
Placing our stop a few ticks from the previous bar extreme is one of the most usual methods, but not the best ; we usually get stopped out at a small retracement, and then the market keeps going on the same direction...without us !
The Multitrail indicator uses a combination of ATR ( Average True Range ) and HMA ( Hull Moving Average ) to get the fastest move according to the current volatility :

Click on the Chart to Zoom














If you look at the chart with detail, you will see that there are several instances where price touches the line, without changing the trend ; this is because the indicator requires a breach to consider a reversal.
We can change the settings making  the trailing more aggressive, so if we have multiple runners, we can have different settings for each one, as on the following example :

Click on Chart to Zoom














This trailing stop method is used on the PM_Impulse Strategy
You can find this Indicator for NinjaTrader on the Following Link

If you have any question please post your comments here or send me an email.

Good Trading !

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