Registered User
Joined: 12/2/2004
Posts: 1,775
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My main trading style is short term swing/position (hold for days, weeks). On these boards I've mentioned more than once the importance of not pulling your stops. Sounds easy, but when I'm watching my streamer most all day and see an open position about to close as price comes very close to its stop, it's so tempting to pull the stop and give it another nickel or so. And then that nickel becomes a dime, and the dime becomes...you get the picture. Lately I've been disciplined with my stops and feel good about overall results, but I've been thinking more and more of changing my method of WHEN to execute the stops. It would mean a rather dramatic style change for me. I'm thinking of not using hard stops any more (stops officially entered with my broker) and instead executing the stop at market close or open the next day. Where did I come up with that idea? I've read of some other more seasoned pros who use that technique. The thinking of course is to avoid being whip-sawed intra-day. Sounds easy but then I'm back to using a mental stop. We have all heard a million times about the important significance of how a stock finishes versus the helter-skelter noise it makes intra-day. I would like to hear you opinion on stop loss methods. TIA.
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Registered User
Joined: 12/18/2004
Posts: 180
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I use MAXC20-(3.33*XATR10) as a reference for where all of my long trades should be stopped out, but I never place the stop in the market. If the stock breeches this level, that usually means that it has dropped far enough that it should be sold, either on the next bounce, or as soon as possible, depending on the momentum and magnitude of the decline. I only use this when I enter as a reference for where the initial stop should be placed, and only when the stock has been trending. Since you are probably more short-term oriented, and probably much more experienced at short-term/swing trading than I am, this method may not be suitable for you. Note that if you plot this as a custom indicator in the price window, check "plot using price scale", the stock usually seems to stay above this line when in an uptrend.
John
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Registered User
Joined: 10/7/2004
Posts: 2,126
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Petry, stops are a sticky issue. You must set your stops based on the stock volatility, the amount of risk you can take, and your time horizon you plan to be in the stock. A fix strategy doesn't work on all situations - it is most dependent on the stock behavior and yours. I can give you what I think are two sound advices. First if you have in mind holding a position for longer term forget about watching the market intraday - doing that will most likely negatively influence your actions. If you are going to watch the markets intraday, then day trade and base your positions and stops in a day term. Second, forget about entering your stops with your broker. Markets makers, as well as anyone who can read Level II and Supermontage can see those stops,and in many instances a market maker can move the stock to take the stops down and buy at a low to just make the stock turn back up around and make a killing profit off your misery. Keep your stops mentally, or write them down in a piece of papers and enter them when you are ready to execute.
Good luck.
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Registered User
Joined: 12/18/2004
Posts: 180
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QUOTE (BigBlock) Second, forget about entering your stops with your broker. Markets makers, as well as anyone who can read Level II and Supermontage can see those stops,and in many instances a market maker can move the stock to take the stops down and buy at a low to just make the stock turn back up around and make a killing profit off your misery. Keep your stops mentally, or write them down in a piece of papers and enter them when you are ready to execute.
I agree with you totally. Market makers are always going to try to shake you out. This is probably the reason that swing lows and Trend Knock Outs occur.
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Registered User
Joined: 3/28/2005
Posts: 2
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Hi fpetry. Seems there's just about as many stop loss ideas as there are traders. Its really a personal issue and we all need to find what works best for ourselves. Eventually a system will develope based on your trading experiences. If you have access to intraday data and software that can perform backtests, you can test out various scenarios with which you are comfortable.
I do take issue with the advice from BigBlock when he or she writes that:
1. Stops are a sticky issue. They aren't at all - they are your friends!
And a good friend will help keep you out of trouble.
2. You MUST set stops based on volatility,the amount of risk you can "take" and your time horizon. For BigBlock maybe, for others it might just be the ability to read a chart or interpret a candle pattern.
3. The ever present paranoia of the dreaded "Market Maker". Phooey on that. Nasdaq MM's and the other exchange specialists are not evil doers.
In fact, you might have one living right next door.... LOL
Personally, when my stop price is hit for either a profit or a stop-loss I immediately take the trade. No ifs, ands or buts. I make too many trades to worry about 'what if' scenarios.
The only exception is an opening gap against the position. In this instance, I mark the low (or high if short) of the first 15 minute candle. Frequently, the price will improve so we don't liquidate at the worst price of the day. If the price is subsequently violated, bye-bye stock. Otherwise, we can be patient and watch for an exit price that is more favorable.
Just an idea, certainly not something you MUST do.
Happy Trading,
Geoff
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Registered User
Joined: 3/25/2005
Posts: 864
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As far as daytrading goes, I agree wholeheartedly with BigBlock's Statement:
QUOTE (BigBlock) Second, forget about entering your stops with your broker. Markets makers, as well as anyone who can read Level II and Supermontage can see those stops,and in many instances a market maker can move the stock to take the stops down and buy at a low to just make the stock turn back up around and make a killing profit off your misery. Keep your stops mentally, or write them down in a piece of papers and enter them when you are ready to execute.
Good luck.
I would never ever use a physical stop in daytrading because of the above reasoning -- Use mental stops only!
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Registered User
Joined: 10/7/2004
Posts: 2,126
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Dear gluskin, I think my words in some sense have been misundestood. Let me clarify.
By stiky issue I meant that stops are all calculated and executed in many different ways. There is no fix type or standard, it depends on the executer.
And that assumes that everyone here knows how to read charts. So you may set your stop at support, someother below support, and some others just 10% below entry - who knows. It is a personal preference so no standard can be given.
On the issue of volatility, yes you must take that into consideration. Lets say you buy into a stock that have intraday swings of 15%, and your standard is 10%. It wouldn't work, you have to let the trade have some room to play or you are setting yourself for failure. This is a vague example, but I am sure you get the idea.
And last, about the market maker - they are not your friends. They are competing against you for a profit. When a stock falls and not a single person wants to buy, who do you think buys. The opposite also being true.
I am not guessing, I have seen it many times. The less they know about your actions the best. I never said they were evil doers, they are competitors.
QUOTE (gsgluskin) Hi fpetry. Seems there's just about as many stop loss ideas as there are traders. Its really a personal issue and we all need to find what works best for ourselves. Eventually a system will develope based on your trading experiences. If you have access to intraday data and software that can perform backtests, you can test out various scenarios with which you are comfortable.
I do take issue with the advice from BigBlock when he or she writes that:
1. Stops are a sticky issue. They aren't at all - they are your friends!
And a good friend will help keep you out of trouble.
2. You MUST set stops based on volatility,the amount of risk you can "take" and your time horizon. For BigBlock maybe, for others it might just be the ability to read a chart or interpret a candle pattern.
3. The ever present paranoia of the dreaded "Market Maker". Phooey on that. Nasdaq MM's and the other exchange specialists are not evil doers.
In fact, you might have one living right next door.... LOL
Personally, when my stop price is hit for either a profit or a stop-loss I immediately take the trade. No ifs, ands or buts. I make too many trades to worry about 'what if' scenarios.
The only exception is an opening gap against the position. In this instance, I mark the low (or high if short) of the first 15 minute candle. Frequently, the price will improve so we don't liquidate at the worst price of the day. If the price is subsequently violated, bye-bye stock. Otherwise, we can be patient and watch for an exit price that is more favorable.
Just an idea, certainly not something you MUST do.
Happy Trading,
Geoff
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Registered User
Joined: 12/2/2004
Posts: 1,775
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Thanks to all for your quality feedback on stop loss comments/opinions.
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Registered User
Joined: 10/27/2004
Posts: 36
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What does "XATR10" of the above referenced stop-line "MAXC20-(3.33*XATR10")represent?
Thanks.
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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ATR stands for Average True Range
XATR10 is the exponential 10 period average of the ATR
XATR10 is not valid PCF syntax.
- Craig
Here to Help!
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Registered User
Joined: 12/18/2004
Posts: 180
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islandrover
This would be the maximum close in the last 20 days minus 3.3 10-day exponential ATR10s (50 terms) for tommorrow's stop:
MAXC20 - ((.001 * ( 181.808 * (H0 - L0 + ABS(H0 - C1) + ABS(L0 - C1)) + 148.7553 * (H1 - L1 + ABS(H1 - C2) + ABS(L1 - C2)) + 121.7116 * (H2 - L2 + ABS(H2 - C3) + ABS(L2 - C3)) + 99.5844 * (H3 - L3 + ABS(H3 - C4) + ABS(L3 - C4)) + 81.48 * (H4 - L4 + ABS(H4 - C5) + ABS(L4 - C5)) +66.6669 * (H5 - L5 + ABS(H5 - C6) + ABS(L5 - C6)) + 54.5469 * (H6 - L6 + ABS(H6 - C7) + ABS(L6 - C7)) + 44.6302 * (H7 - L7 + ABS(H7 - C8) + ABS(L7 - C8)) + 36.5165 * (H8 - L8 + ABS(H8 - C9) + ABS(L8 - C9)) + 29.8778 * (H9 - L9 + ABS(H9 - C10) + ABS(L9 - C10)) + 24.446 * (H10 - L10 + ABS(H10 - C11) + ABS(L10 - C11)) + 20.0017 * (H11 - L11 + ABS(H11 - C12) + ABS(L11 - C12)) + 16.3654 * (H12 - L12 + ABS(H12 - C13) + ABS(L12 - C13)) + 13.3902 * (H13 - L13 + ABS(H13 - C14) + ABS(L13 - C14)) + 10.956 * (H14 - L14 + ABS(H14 - C15) + ABS(L14 - C15)) + 8.9641 * (H15 - L15 + ABS(H15 - C16) + ABS(L15 - C16)) + 7.3344 * (H16 - L16 + ABS(H16 - C17) + ABS(L16 - C17)) + 6.001 * (H17 - L17 + ABS(H17 - C18) + ABS(L17 - C18)) + 4.91 * (H18 - L18 + ABS(H18 - C19) + ABS(L18 - C19)) + 4.0174 * (H19 - L19 + ABS(H19 - C20) + ABS(L19 - C20)) + 3.287 * (H20 - L20 + ABS(H20 - C21) + ABS(L20 - C21)) + 2.6894 * (H21 - L21 + ABS(H21 - C22) + ABS(L21 - C22)) + 2.2005 * (H22 - L22 + ABS(H22 - C23) + ABS(L22 - C23)) + 1.8004 * (H23 - L23 + ABS(H23 - C24) + ABS(L23 - C24)) + 1.4731 * (H24 - L24 + ABS(H24 - C25) + ABS(L24 - C25)) + 1.2053 * (H25 - L25 + ABS(H25 - C26) + ABS(L25 - C26)) + .9862 * (H26 - L26 + ABS(H26 - C27) + ABS(L26 - C27)) +.8069 * (H27 - L27 + ABS(H27 - C28) + ABS(L27 - C28)) + .6602 * (H28 - L28 + ABS(H28 - C29) + ABS(L28 - C29)) +.5402 * (H29 - L29 + ABS(H29 - C30) + ABS(L29 - C30)) + .442 * (H30 - L30 + ABS(H30 - C31) + ABS(L30 - C31)) + .3616 * (H31 - L31 + ABS(H31 - C32) + ABS(L31 - C32)) +.2959 * (H32 - L32 + ABS(H32 - C33) + ABS(L32 - C33)) +.2421 * (H33 - L33 + ABS(H33 - C34) + ABS(L33 - C34)) + .1981 * (H34 - L34 + ABS(H34 - C35) + ABS(L34 - C35)) +.1621 * (H35 - L35 + ABS(H35 - C36) + ABS(L35 - C36)) + .1376 * (H36 - L36 + ABS(H36 - C37) + ABS(L36 - C37)) + .1085 * (H37 - L37 + ABS(H37 - C38) + ABS(L37 - C38)) +.0888 * (H38 - L38 + ABS(H38 - C39) + ABS(L38 - C39)) + .0726 * (H39 - L39 + ABS(H39 - C40) + ABS(L39 - C40)) + .0594 * (H40 - L40 + ABS(H40 - C41) + ABS(L40 - C41)) + .0486 * (H41 - L41 + ABS(H41 - C42) + ABS(L41 - C42)) + .0398 * (H42 - L42 + ABS(H42 - C43) + ABS(L42 - C43)) + .0326 * (H43 - L43 + ABS(H43 - C44) + ABS(L43 - C44)) + .0266 * (H44 - L44 + ABS(H44 - C45) + ABS(L44 - C45)) +.0218 * (H45 - L45 + ABS(H45 - C46) + ABS(L45 - C46)) + .0178 * (H46 - L46 + ABS(H46 - C47) + ABS(L46 - C47)) + .0146 * (H47 - L47 + ABS(H47 - C48) + ABS(L47 - C48)) + .0119 * (H48 - L48 + ABS(H48 - C49) + ABS(L48 - C49)) + .0098 * (H49 - L49 + ABS(H49 - C50) + ABS(L49 - C50))) / 2) * 3.33)
You can plot as custom indicator, check "plot using price scale", plot the price as either a candlestick chart or a line-graph with volume in the middle window to see where the price had closed versus the line (line graph)or whether it breached the line intraday and closed low in the range on heavy volume, or rebounded and closed above the line/high in the range on heavy volume (candlestick). I am partial to a Wilder's Smoothed ATR10 which is equivalent to a 10% moving average, or "19-day" exponential moving average of True Range, after further experimenting. You may also try increasing or decreasing the multiple. Courtesy of Tanstaafl (who by the way has a trailing stop method you should definitely check out before attempting this stuff), I pasted a 10% ATR below with 3 3/8 as the multiple:
MAXC20 - ((.001 * ( 100.0956 * (H0 - L0 + ABS(H0 - C1) + ABS(L0 - C1)) + 90.086 * (H1 - L1 + ABS(H1 - C2) + ABS(L1 - C2)) + 81.0774 * (H2 - L2 + ABS(H2 - C3) + ABS(L2 - C3)) + 72.9697 * (H3 - L3 + ABS(H3 - C4) + ABS(L3 - C4)) + 65.6727 * (H4 - L4 + ABS(H4 - C5) + ABS(L4 - C5)) + 59.1054 * (H5 - L5 + ABS(H5 - C6) + ABS(L5 - C6)) + 53.1949 * (H6 - L6 + ABS(H6 - C7) + ABS(L6 - C7)) + 47.8754 * (H7 - L7 + ABS(H7 - C8) + ABS(L7 - C8)) + 43.0879 * (H8 - L8 + ABS(H8 - C9) + ABS(L8 - C9)) + 38.7791 * (H9 - L9 + ABS(H9 - C10) + ABS(L9 - C10)) + 34.9012 * (H10 - L10 + ABS(H10 - C11) + ABS(L10 - C11)) + 31.4111 * (H11 - L11 + ABS(H11 - C12) + ABS(L11 - C12)) + 28.27 * (H12 - L12 + ABS(H12 - C13) + ABS(L12 - C13)) + 25.443 * (H13 - L13 + ABS(H13 - C14) + ABS(L13 - C14)) + 22.8987 * (H14 - L14 + ABS(H14 - C15) + ABS(L14 - C15)) + 20.6088 * (H15 - L15 + ABS(H15 - C16) + ABS(L15 - C16)) + 18.5479 * (H16 - L16 + ABS(H16 - C17) + ABS(L16 - C17)) + 16.6931 * (H17 - L17 + ABS(H17 - C18) + ABS(L17 - C18)) + 15.0238 * (H18 - L18 + ABS(H18 - C19) + ABS(L18 - C19)) + 13.5214 * (H19 - L19 + ABS(H19 - C20) + ABS(L19 - C20)) + 12.1693 * (H20 - L20 + ABS(H20 - C21) + ABS(L20 - C21)) + 10.9524 * (H21 - L21 + ABS(H21 - C22) + ABS(L21 - C22)) + 9.8571 * (H22 - L22 + ABS(H22 - C23) + ABS(L22 - C23)) + 8.8714 * (H23 - L23 + ABS(H23 - C24) + ABS(L23 - C24)) + 7.9843 * (H24 - L24 + ABS(H24 - C25) + ABS(L24 - C25)) + 7.1858 * (H25 - L25 + ABS(H25 - C26) + ABS(L25 - C26)) + 6.4673 * (H26 - L26 + ABS(H26 - C27) + ABS(L26 - C27)) + 5.8205 * (H27 - L27 + ABS(H27 - C28) + ABS(L27 - C28)) + 5.2385 * (H28 - L28 + ABS(H28 - C29) + ABS(L28 - C29)) + 4.7146 * (H29 - L29 + ABS(H29 - C30) + ABS(L29 - C30)) + 4.2432 * (H30 - L30 + ABS(H30 - C31) + ABS(L30 - C31)) + 3.8189 * (H31 - L31 + ABS(H31 - C32) + ABS(L31 - C32)) + 3.437 * (H32 - L32 + ABS(H32 - C33) + ABS(L32 - C33)) + 3.0933 * (H33 - L33 + ABS(H33 - C34) + ABS(L33 - C34)) + 2.7839 * (H34 - L34 + ABS(H34 - C35) + ABS(L34 - C35)) + 2.5055 * (H35 - L35 + ABS(H35 - C36) + ABS(L35 - C36)) + 2.255 * (H36 - L36 + ABS(H36 - C37) + ABS(L36 - C37)) + 2.0295 * (H37 - L37 + ABS(H37 - C38) + ABS(L37 - C38)) + 1.8265 * (H38 - L38 + ABS(H38 - C39) + ABS(L38 - C39)) + 1.6439 * (H39 - L39 + ABS(H39 - C40) + ABS(L39 - C40)) + 1.4795 * (H40 - L40 + ABS(H40 - C41) + ABS(L40 - C41)) + 1.3316 * (H41 - L41 + ABS(H41 - C42) + ABS(L41 - C42)) + 1.1984 * (H42 - L42 + ABS(H42 - C43) + ABS(L42 - C43)) + 1.0786 * (H43 - L43 + ABS(H43 - C44) + ABS(L43 - C44)) + .9707 * (H44 - L44 + ABS(H44 - C45) + ABS(L44 - C45)) + .8736 * (H45 - L45 + ABS(H45 - C46) + ABS(L45 - C46)) + .7863 * (H46 - L46 + ABS(H46 - C47) + ABS(L46 - C47)) + .7076 * (H47 - L47 + ABS(H47 - C48) + ABS(L47 - C48)) + .6369 * (H48 - L48 + ABS(H48 - C49) + ABS(L48 - C49)) + .5732 * (H49 - L49 + ABS(H49 - C50) + ABS(L49 - C50)) + .5159 * (H50 - L50 + ABS(H50 - C51) + ABS(L50 - C51)) + .4643 * (H51 - L51 + ABS(H51 - C52) + ABS(L51 - C52)) + .4179 * (H52 - L52 + ABS(H52 - C53) + ABS(L52 - C53)) + .3761 * (H53 - L53 + ABS(H53 - C54) + ABS(L53 - C54)) + .3385 * (H54 - L54 + ABS(H54 - C55) + ABS(L54 - C55)) + .3046 * (H55 - L55 + ABS(H55 - C56) + ABS(L55 - C56)) + .2742 * (H56 - L56 + ABS(H56 - C57) + ABS(L56 - C57)) + .2467 * (H57 - L57 + ABS(H57 - C58) + ABS(L57 - C58)) + .2221 * (H58 - L58 + ABS(H58 - C59) + ABS(L58 - C59)) + .1999 * (H59 - L59 + ABS(H59 - C60) + ABS(L59 - C60)) + .1799 * (H60 - L60 + ABS(H60 - C61) + ABS(L60 - C61)) + .1619 * (H61 - L61 + ABS(H61 - C62) + ABS(L61 - C62)) + .1457 * (H62 - L62 + ABS(H62 - C63) + ABS(L62 - C63)) + .1311 * (H63 - L63 + ABS(H63 - C64) + ABS(L63 - C64)) + .118 * (H64 - L64 + ABS(H64 - C65) + ABS(L64 - C65)) + .1062 * (H65 - L65 + ABS(H65 - C66) + ABS(L65 - C66))) / 2) * 3.375)
My latest setup uses seven of these stops, decreasing the multiple depending on how long I have been in the trade, the slope of the stock (if the stock has really shot up fast, you might go with a low multiple), etc. Most likely, you never will use them all on one stock. You might decrease the multiple as soon as your stock took out the high for the last 20 days, and eventually work up to a profit grab. For today's stop, just change "MAXC20" to "MAXC20.1", and step all your days up by one (H0 becomes H1, etc.). For shorts, I haven't tried this yet, but you could experiment by changing MAXC20 to MINL20 and your "-" sign to a "+". You can also save these to tab in color code, as well as plot them in color code on the chart.
P.S. If you try these, don't try to plot too many on the same chart template! It's slow enough with two.
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Registered User
Joined: 12/18/2004
Posts: 180
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One last word, and then I'll shut up, I promise! By plotting the ATR stops as custom indicators in color code and also saving each one to tab in the same color, you can see what stop the stock has held above in the recent past, and then refer to the matching tab for tommorrow's stop. This method does not address the problem of lowering your stop, and I have never tried it with intra-day terms.
John
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Registered User
Joined: 10/27/2004
Posts: 36
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Thanks a million... I will give it a go.
What a wonderful community!
islandrover
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 Gold Customer
Joined: 2/1/2005
Posts: 51
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To Memorable
Mental stops work extremely well when you are using mental money. While your at it, don't forget to use paper or simulation trading to satisfy your ego. I am sure that the market maker is looking at your 200 share stop loss and deciding wether to drive the price down for your $3K investment. You have to have a hard stop, unless you are a investor (trader whose position went south). Evidently, in your part of the country, the electrical works, the web works, and try a fling with the Futures market and learn about mental stops.
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Registered User
Joined: 12/2/2004
Posts: 37
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Several brokers provide the capability to "trigger" or "preset" order entry for certain conditions. Only after the trigger/preset conditions are met does the order get triggered (created). This seems to prevent the ever watchful eye of the market maker from seeing these orders (stops, buys, limit orders, etc.) until the conditions on which you want them to trade actually occur. Suddenly, there they are. Live market orders based on the conditions you set. Your stop (buy/sell), limits, etc. are only in play once your conditions are met. Anybody have experiences (good, bad, ugly)to share on this side of managing stops? 
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Registered User
Joined: 10/27/2004
Posts: 36
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Are the availability of trigger orders exchange-dependent? Stop-limit vs. Stop-market dependent? It seems that my broker(IB) does that for the NASDAQ but not the NYSE; and I didn't notice it until I used a few stop-limits.
Thanks again, folks.
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Registered User
Joined: 12/18/2004
Posts: 180
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CORRECTION
The first formula I posted above which was supposed to be a 10-day ATR contained error produced by rounding. I don't know what the error amounted to because I ran both the indicator and the corrected version on my charts and could not tell the difference. I posted the correct 10-day ATR below (just the ATR part). Since know one trusts me now, I recommend you copy if you want to use it and plot it in the middle window as below, and then plot the indicator "(H0-L0+ABS(H0-C1)+ABS(L0-C1))/2", smoothing average "10", check exponential. They should match.
.001 * ( 181.8261 * (H0 - L0 + ABS(H0 - C1) + ABS(L0 - C1)) + 148.7668 * (H1 - L1 + ABS(H1 - C2) + ABS(L1 - C2)) + 121.7183 * (H2 - L2 + ABS(H2 - C3) + ABS(L2 - C3)) + 99.5877 * (H3 - L3 + ABS(H3 - C4) + ABS(L3 - C4)) + 81.4809 * (H4 - L4 + ABS(H4 - C5) + ABS(L4 - C5)) + 66.6662 * (H5 - L5 + ABS(H5 - C6) + ABS(L5 - C6)) + 54.5451 * (H6 - L6 + ABS(H6 - C7) + ABS(L6 - C7)) + 44.6278 * (H7 - L7 + ABS(H7 - C8) + ABS(L7 - C8)) + 36.5136 * (H8 - L8 + ABS(H8 - C9) + ABS(L8 - C9)) + 29.8748 * (H9 - L9 + ABS(H9 - C10) + ABS(L9 - C10)) + 24.443 * (H10 - L10 + ABS(H10 - C11) + ABS(L10 - C11)) + 19.9988 * (H11 - L11 + ABS(H11 - C12) + ABS(L11 - C12)) + 16.3627 * (H12 - L12 + ABS(H12 - C13) + ABS(L12 - C13)) + 13.3877 * (H13 - L13 + ABS(H13 - C14) + ABS(L13 - C14)) + 10.9535 * (H14 - L14 + ABS(H14 - C15) + ABS(L14 - C15)) + 8.962 * (H15 - L15 + ABS(H15 - C16) + ABS(L15 - C16)) + 7.3325 * (H16 - L16 + ABS(H16 - C17) + ABS(L16 - C17)) + 5.9993 * (H17 - L17 + ABS(H17 - C18) + ABS(L17 - C18)) + 4.9086 * (H18 - L18 + ABS(H18 - C19) + ABS(L18 - C19)) + 4.0161 * (H19 - L19 + ABS(H19 - C20) + ABS(L19 - C20)) + 3.2859 * (H20 - L20 + ABS(H20 - C21) + ABS(L20 - C21)) + 2.6885 * (H21 - L21 + ABS(H21 - C22) + ABS(L21 - C22)) + 2.1996 * (H22 - L22 + ABS(H22 - C23) + ABS(L22 - C23)) + 1.7997 * (H23 - L23 + ABS(H23 - C24) + ABS(L23 - C24)) + 1.4725 * (H24 - L24 + ABS(H24 - C25) + ABS(L24 - C25)) + 1.2048 * (H25 - L25 + ABS(H25 - C26) + ABS(L25 - C26)) + .9857 * (H26 - L26 + ABS(H26 - C27) + ABS(L26 - C27)) + .8065 * (H27 - L27 + ABS(H27 - C28) + ABS(L27 - C28)) + .6599 * (H28 - L28 + ABS(H28 - C29) + ABS(L28 - C29)) + .5399 * (H29 - L29 + ABS(H29 - C30) + ABS(L29 - C30)) + .4417 * (H30 - L30 + ABS(H30 - C31) + ABS(L30 - C31)) + .3614 * (H31 - L31 + ABS(H31 - C32) + ABS(L31 - C32)) + .2957 * (H32 - L32 + ABS(H32 - C33) + ABS(L32 - C33)) + .2419 * (H33 - L33 + ABS(H33 - C34) + ABS(L33 - C34)) + .1979 * (H34 - L34 + ABS(H34 - C35) + ABS(L34 - C35)) + .162 * (H35 - L35 + ABS(H35 - C36) + ABS(L35 - C36)) + .1325 * (H36 - L36 + ABS(H36 - C37) + ABS(L36 - C37)) + .1084 * (H37 - L37 + ABS(H37 - C38) + ABS(L37 - C38)) + .0887 * (H38 - L38 + ABS(H38 - C39) + ABS(L38 - C39)) + .0726 * (H39 - L39 + ABS(H39 - C40) + ABS(L39 - C40)) + .0594 * (H40 - L40 + ABS(H40 - C41) + ABS(L40 - C41)) + .0486 * (H41 - L41 + ABS(H41 - C42) + ABS(L41 - C42)) + .0398 * (H42 - L42 + ABS(H42 - C43) + ABS(L42 - C43)) + .0325 * (H43 - L43 + ABS(H43 - C44) + ABS(L43 - C44)) + .0266 * (H44 - L44 + ABS(H44 - C45) + ABS(L44 - C45)) + .0218 * (H45 - L45 + ABS(H45 - C46) + ABS(L45 - C46)) + .0178 * (H46 - L46 + ABS(H46 - C47) + ABS(L46 - C47)) + .0146 * (H47 - L47 + ABS(H47 - C48) + ABS(L47 - C48)) + .0119 * (H48 - L48 + ABS(H48 - C49) + ABS(L48 - C49)) + .0098 * (H49 - L49 + ABS(H49 - C50) + ABS(L49 - C50))) / 2
My bad!
John
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