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Description
StopsXL
This calculator comes with ATR calculations based on five different time periods plus a the standard deviation over the past 50 days, and all these measurements are calculated for thousands of stocks and resident within StopsXL when you download the calculator.
1. It is not necessary to download or enter new data every day. All the user has to do is enter the most recent high, low, and close for any stock under review.
2. Our premise in creating this calculator is that because the user is given a variety of volatility measurements, including a 7-day ATR, a 14-day ATR, a 21-day ATR, a 100-day ATR, a 200-day ATR, and a 500-day standard deviation of the ATR. It is not necessary to download new measurements every day. Whatever the current measurement is, it is likely to be covered by one of the internal measurements. Here is why this can work. The real danger, in our view, in using a volatility measurement to determine the position of a stop loss occurs when using a measurement that is too small, resulting in an unnecessary and premature sale. Measurements that are a little large, give the stock a little more “wiggle room.” StopsXL determines the greatest ATR calculated for all indicated periods for all stocks. Using the greatest ATR for all these periods makes it very unlikely that the current ATR, whatever it is, is greater than the one being used. When a symbol is entered, StopsXL displays the identity of the ATR with the greatest calculated value for that stock (so the user does not have to search for it). The user can then enter the period for that ATR for that stock, or he can enter the period for any other calculated ATR. The Stop loss will then be calculated relative to the most recent high, low, or close, as entered by the user (the user should enter the latest high, low, and close for the stock of interest in the columns I, J, and K.
3. There are no charges for using StopsXL.
4. User should download a fresh copy of StopsXL weekly (to get fresh data).
5. StopsXL has a “Multiplier” function that enables the user to “weight” the ATR or standard deviation. For example, the stop loss can be calculated for 1.76ATRs below the close or 3.21 standard deviations below the latest high, etc.
6. StopsXL calculates pivot points, resistance level 1, resistance level 2, support level 1, and support level 2.
7. StopsXL can also calculate Fibonacci retracement levels