APPLYSTOP
- apply built-in stop

Trading system toolbox
(AFL 1.7)

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
(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)

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

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

/* single-line implementation of Chandelier exit */

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

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