This TradingView strategy it is designed to integrate with other strategies with indicators.
It performs a trailing stop loss from entry and exit conditions.
In this strategy you can add conditions for long and short positions.
The strategy will ride up your stop loss when price moviment 1%.
The strategy will close your operation when the market price crossed the stop loss.
Also is possible to select the period that strategy will execute the backtest.
The strategy has the following parameters:
+ **INITIAL STOP LOSS** - Where can isert the value to first stop.
+ **POSITION TYPE** - Where can to select trade position.
+ **BACKTEST PERIOD** - To select range.
1. I am not licensed financial advisors or broker dealers. I do not tell you when or what to buy or sell. I developed this software which enables you execute manual or automated trades multiple trades using TradingView. The software allows you to set the criteria you want for entering and exiting trades.
2. Do not trade with money you cannot afford to lose.
3. I do not guarantee consistent profits or that anyone can make money with no effort. And I am not selling the holy grail.
4. Every system can have winning and losing streaks.
5. Money management plays a large role in the results of your trading. For example: lot size, account size, broker leverage, and broker margin call rules all have an effect on results. Also, your Take Profit and Stop Loss settings for individual pair trades and for overall account equity have a major impact on results. If you are new to trading and do not understand these items, then I recommend you seek education materials to further your knowledge.
**YOU NEED TO FIND AND USE THE TRADING SYSTEM THAT WORKS BEST FOR YOU AND YOUR TRADING TOLERANCE.**
**I HAVE PROVIDED NOTHING MORE THAN A TOOL WITH OPTIONS FOR YOU TO TRADE WITH THIS PROGRAM ON TRADINGVIEW.**
I accept suggestions to improve the script.
If you encounter any problems I will be happy to share with me.
+ Authors: @exit490
+ Revision: v1.0.0
+ Date: 03-Aug-2019
+ Pinescript version: 4
Copyright 2019 Mauricio Pimenta / exit490
Trailing Stop Loss script may be freely distributed under the MIT license.
You'll need to convert this into a Study.
I've added additional conditions to the existing SHORT / LONG logic ; I've done this to match another indicator that I've developed. I have a plot from my indicator that I use to detect crossover / crossunder with the plots provided in this script. I changed the last two lines here to plot() as that worked better for my use.
For me my alerts are driven by:
alertcondition((crossedStopLoss or hasCloseLongConditional), title='Trend Down', message='XXX')
alertcondition(hasEntryLongConditional(), title='Trend Up', message='XXX)
I've been using this for the past couple of days and it's been working well.
Buy = condition1 and condition2 and testrange
alertcondition(Buy, title = "Buy Signal", message = "Buy Signal Alert")
I'm stuck in the sell order alert notification as I'm using strategy.exit() which has stop, trail_points and trail_offset. So the strategy either hits stop-loss or it starts trailing from a certain percentage with an offset.
strategy.exit("TP/SL", "Enter Long", stop=StopLoss * (1 - sl_inp),
trail_points = close * TrailPer / syminfo.mintick,
trail_offset = close * TrailOffset / syminfo.mintick)
I can't use alertfunction() here as the trailing stoploss and offset are both defined in strategy.exit function. Your above strategy trails at 1% stoploss but doesn't have an offset, how can I modify it so that after a certain percentage (trail_points) it starts to trail with an offset (trail_offset).
Any help will be greatly appreciated! Thanks!
Hi, I agree with you.
I edited the script using "updatedentryprice: = close"
If you don't use this formula, the strategy doesn't make any sense hahahaha