Trailing Stop Loss

This script demonstrate how to make a Training Stop Loss to "ride the wave". In comparison to classic Stop Loss this strategy follows the price upwards (for long positions) and when price drops by a fixed percentage then you exit your position.

Versionshinweise:

• Minor typos
  

Versionshinweise:

• Add the ability to disable trailing for demonstration reasons
  
• Close open orders on trend reversal
  
• Add sell labels on cross-under
  

Versionshinweise:

• Fix a bug that made Stop Loss to not trigger appropriately when it was reached at the very first candle end enable trailing was un-checked
  

Versionshinweise:

• Refactor stopValue calculation to be more readable
  

Versionshinweise:

• Fix longIsActive logic
  

Versionshinweise:

• Check if time is within backtest period in order to set the price to prevent unnecessary calculations and drawing outside the area of interest
  
• Replace deprecated trasp argument with color.new
  

Versionshinweise:

• Set calc on every tick to false by default, as @fgo943 suggested
  

Versionshinweise:

• Minor Update the chart for a better overview and understanding of the trailing stop loss
  

Versionshinweise:

• Fix a bug that were causing stop loss to be calculated wrong when there was new entry back to back with the end of the previous one
  
• Use strategy.percent_of_equity
  

Versionshinweise:

• Draw lines with width 1
  

Versionshinweise:

• Update to pinescript V5
  
• Stop Loss step is now 0.05
  

Versionshinweise:

• Let's face it a Green-Red color model is more intuitive!
  

Versionshinweise:

• Happy New Year!
  
• Many code refactorings and optimizations to better use this script as a template and plug your own strategy at ease
  

Versionshinweise:

• Bug fix: (rare/minor) Remove 'strategy.position_size == 0' condition in stop loss calculation that made the very first stop loss price target to be calculated based on previous 'strategy.position_avg_price' instead of 'close' if the previous position closed exactly one bar before!
  

Versionshinweise:

• (minor) refactoring
  

Versionshinweise:

• Use time_filters library
  

Versionshinweise:

• Minor revision update
  

Versionshinweise:

• Replace deprecated "when=" with if statements in strategy calls
  

Versionshinweise:

• Change fastMA default color to yellow
  

Versionshinweise:

• Increase max labels to 300
  
• Minor refactoring
  

Versionshinweise:

• Update time_filters library
  

Versionshinweise:

• Some minor label/color changes
  

Versionshinweise:

• small refactoring
  

Versionshinweise:

• Update time_filters library version
  

Versionshinweise:

• Update time_filters library version
  

Versionshinweise:

• Use the 'chrono_utils' library for the date-time window filter