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Hello dear followers
In continuation of my previous articles, Another method of trailing the stop is commonly referred to as a “Channel Exit”.
A channel exit is extremely versatile and can work equally well with weekly bars or five-minute bars. Also, keep in mind that any examples referring to long trades can be equally applicable to short trades.
The implementation of a channel exit is very simple. Suppose we have decided to use a 20-day channel exit for a long trade. For each day in the trade, we would determine the lowest low price of the last 20 days and place our exit.
A longer channel length will usually work better in a long-term trend-following strategy, while a shorter channel will usually capture more profits in smaller trends.
Cheers
In continuation of my previous articles, Another method of trailing the stop is commonly referred to as a “Channel Exit”.
A channel exit is extremely versatile and can work equally well with weekly bars or five-minute bars. Also, keep in mind that any examples referring to long trades can be equally applicable to short trades.
The implementation of a channel exit is very simple. Suppose we have decided to use a 20-day channel exit for a long trade. For each day in the trade, we would determine the lowest low price of the last 20 days and place our exit.
A longer channel length will usually work better in a long-term trend-following strategy, while a shorter channel will usually capture more profits in smaller trends.
Cheers
