ApplyStop
- apply built-in stop

Trading system toolbox
(AmiBroker 3.70)

Parameters:

type =
0 = stopTypeLoss - maximum loss stop,
1 = stopTypeProfit - profit target stop,
2 = stopTypeTrailing - trailing stop,
3 = stopTypeNBar - N-bar stop

mode =
0 - disable stop (stopModeDisable),
1 - amount in percent (stopModePercent), or number of bars for N-bar stop (stopModeBars),
2 - amount in points (stopModePoint);
3 - amount in percent of profit (risk)

amount =
percent/point loss/profit trigger/risk amount.
This could be a number (static stop level) or an array (dynamic stop level)

ExitAtStop

ExitAtStop = 0 - means check stops using only trade price and exit at regular trade price⁽¹⁾
(if you are trading on close it means that only close price will be checked for exits and exit will be done at close price)
ExitAtStop = 1 - check High-Low prices and exit intraday on price equal to stop level on the same bar when stop was triggered
ExitAtStop = 2 - check High-Low prices but exit NEXT BAR on regular trade price.

volatile -
decides if amount (or distance) (3rd parameter) is sampled at the trade entry and remains fixed during the trade (Volatile = FALSE - old behaviour) or if can vary during the trade (Volatile = TRUE) (allows single line Chandelier exit implementation)⁽²⁾

ReEntryDelay -
how many bars to wait till entering the same stock is allowed.

ValidFrom -
defines first bar since entry when stop can generate an exit. 0 means from the very beginning

ValidTo -
defines last bar since entry when stop can generate an exit. -1 means "infinite". By default stops are valid all the time (0/-1).

ValidFrom/ValidTo can be used to create stops that get actived/deactivated in different times. This setting is independent for each stop type. It also works in conjunction with SetOption("HoldMinBars", x ). HoldMinBars affects BOTH regular exits and stops, preventing ALL kind of exits during defined period. ValidFrom/ValidTo works on each stop separately and does not affect regular exits.

Note on using stops:
Scenario 1:
you trade on next bar OPEN and want to exit intraday on stop price

Correct settings:
ActivateStopsImmediately turned ON
ExitAtStop = 1
Trade delays set to one
Trade price set to open

Scenario 2:
you trade on today's close and want to exit intraday on stop price
Correct settings:
ActivateStopsImmediately turned OFF
ExitAtStop = 1
Trade delays set to zero
Trade price set to close

Scenario 3:
you trade on next day OPEN and want to exit by stop on OPEN price when PREVIOUS day H-L range hits stop
Correct settings:

ExitAtStop = 2 (NEW)
Trade delays set to one
Trade price set to open

• a) (if you want to have stops executed AFTER regular signals, so cash from stopped out positions is NOT available to enter trades the same day)
  ActivateStopsImmediately turned ON
  
  
• b) (if you want to have stops executed BEFORE regular signals, so cash from stopped out positions IS available to enter new trades the same day)
  ActivateStopsImmediately turned OFF

LIMITATIONS:

• ⁽¹⁾ ExitAtStop = 0 uses SellPrice/CoverPrice variables in backtestRegular mode only, in other modes it uses trade prices from the Settings dialog (not overridable via SellPrice/CoverPrice)
  
  
• ⁽²⁾ Volatile stops (Volatile=True) work only in backtestRegular mode

/* single-line implementation of Chandelier exit */

ApplyStop(stopTypeTrailing, stopModePoint, 3*ATR(14), True, True );

/* N-bar stop */
ApplyStop( stopTypeNBar, stopModeBars, 5 );