Instead of entering LONG when price crosses above , I have used (14) of . that way it skips the false signals. (some extent)
1. setting is 33
2. When RSIofVwma is above 30 enter Long ( and also checks if price already broke the ATR Stop above line )
Stop Loss and Exits
1. Exit is when price breaks the ATR stop loss
2. ATR setting is set as same Length and multiplier is 3.5
3. STOP Loss that I mentioned in the settings is being used to calculate the how many units can be purchased based on risk of capital value.
Note: There is NO hard stop loss. having above ATR stop loss works as Trailing stop loss
For the educational purposes only
Qrty1 is how many shares you can buy based on your risk of capital divided by stop loss value.
If you want to change it to atr , modify line number 45.
Let's say you want 1.5 x atr as stop loss ... then you need to modify divided by at line 45 ... Which would look like below ...
... / ( Close - ( 1.5 * atrVal ) )
And define atrVal in the beginning of the script
atrVal = atr(close, 14 )
That's it will be automatic based on ATR
Good Luck and have fun
Sorry it is just to divide by atr * factor
tied but but getting errors
would be wonderful if you could help with that
can you paste the code here , I will check and reply back to you
You might have modified the code for your requirement .... what does it looks like ? what is the error you are getting ?