Location: Leduc, AB
Since the inception of OT, a lot of effort has gone into producing good signals (ATS is a very good example of this). I think now is the time to put more efforts into producing good Stops. As it stands right now, the Stop routines can only see Long or Short signals, which resulted in an open trade. Reversal signals cannot be used in a TradePlan block, only in an Orders block. What I would like to see is more intelligent Stop routines (compatible with TP obviously) that can "see" all reversal signals that appear on the Voteline.
Here is an example; Let's say that a Long signal resulted in an open trade. Then on subsequent bars, three reversal (Short) signals appears in short order for the same symbol on the Voteline. I'd say this is a clear indication that the trade has turned sour. However, the present implementation of the Stop routines have no way of picking up on this, and the SP is likely to drift southward until the stop loss is taken out. Granted, proper money management may have taken the stop loss into account, but it's still a loss which could have been avoided (the writing was on the wall due to the string of reversal signals). For trades that are already in the money, trailing stops etc. should be tightened up after one or more reversal signals (the required number of reversal signals should be user configurable).