Add Chandelier Stops
The Chandelier Stop is a trailing stop that is based on the volatility of the market. It has been successfully used and recommended by a number of traders, including Chuck LeBeau, for trend-following systems. The equations for the Chandelier Stop (CS) indicator recently incorporated into the FT Program are as follows:
If Long: CS=HH-FactorEMA(Range, Length)
If Short: CS=LL+FactorEMA(Range,Length)
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Matthew McLaughlin
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Derek Goodyer
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This would be very useful - see article http://www.tradernexus.com/advancedstop/advancedstop.html#downloads