I suggest an exit alternative using the price of n maximum or n minimum, for example, when the price breaks the maximum of n days, the exit price will be the maximum of n days yesterday.
example: today MAX is $ 10,60
the indicator MAX(5 days previous high) is $ 10,50
the price sell used in this case will be $ 10,50 and not open, close, low, high of today.
Sorry for late response.
I am not sure what exactly you asked for, Sell price has to be a price that is between low and high of transaction day. Can you please elaborate a little more what exactly you are asking for. I couldn't understand if the transaction happens today how can we sell it at the price that is maximum of last 5 days?
More explanation will be great.
Hello guys!
I was about to open a new topic and write a suggestion about this subject, but I think I found a place to do it.
What I think that Jos asked is the possibility to make a sell condition based on highest of previews "N" last days. There is an indicator called High/Low Channel that shows the highest and the lowest price of N days. Some backtests softwares uses this feature to make sells conditions different of the close price.
For example: I bought a stock at close price for $10 and the highest of the 3 last days is $10,50: If in the next day it hits $10,50 it gives me a sell condition to execute a sell order at $10,50 regardless of the close price (that could be higher or lower).
If in the next day, the price didn't go for the highest of "N" last days, it moves the sale target down, based always
on the heighest of "N" last days.
Well, what you guys think? Was I clear?
[I was on a long vacation and so there is considerable delay in my response].
I think what you are asking for is to place a "limit order" when sell condition triggers. A limit order with expiry will make it possible to achieve what you are asking for. Do you think I am right in understanding your suggestion? If so then I think it should be possible to do that in Stockalyze.
Hey there!
Yes, this could work. If the order is executed at the price that triggered that order (different from the closing price of that candle), that should work fine! But in this examples, if the price didn't triggered the "limit order" (that is the max of "N" last days) it should recalculate and place a new sells order, because the max of N days is always moving down, if the sell order didn't execute.
If there is anything I can help to make thing more clear, let me know!
Thanks!!
OK. Will work on it and let you know when done. Please have patience.
Thanks for the amazing support!
To reinforce the request, it will help me a lot!!