Moving Average Cross Over with 1% Stop Loss from the Current High Trade Set Up

Discussion in 'Ask A Question' started by Customer Questions, Apr 11, 2016.

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  1. Customer Questions

    Customer Questions John @ timetotrade

    I would like to set up a trade say on Glencore so when a moving average of 142 minutes crosses the moving average of 50 minutes and both are heading up, then stock is to buy, if the the 2 averages cross and are both going down then to short sell. The stop loss is to kick in when say the price drops 1% from the current high since the stock has been brought.
     

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  2. Customer Care

    Customer Care John @ timetotrade

    To set up this strategy add the 142 and 50 period Moving Averages and use the Price Channels to identify highs and lows within a given period of time. With a strategy of this nature you have to decide how far back you look from the current price to determine the last high. In this example the highest high, or lowest low, in the last 20 candles is used i.e. Price Channel with a period of 20.

    To set up the stop loss alerts custom indicators have been created based on:

    Long Stop = ( (Upper Price Channel - Close Price ) / Upper Price Channel * 100)

    Short Stop = ( (Close Price - Lower Price Channel ) / Lower Price Channel * 100)

    If the value of the Long or Short Stop is greater than 1, then the price will have moved 1% from the Highest High or Lowest Low in the last 20 candles.

    A custom indicator has been created that calculates the Long Stop and Short Stop and can be imported using the code: 49F5-BFF4-74E5. Click here to learn how to import custom indicators into timetotrade:

    upload_2016-4-11_13-32-59.png



    To demonstrate the strategy being set up, backtested and then used to execute a trading strategy see the following help video:





    To learn more about back testing and grouping alert triggers:

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    Last edited: Apr 11, 2016

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