Another Stop Loss Indicator today - our last Fixed SL/TP script went down quite well, this one is for adding a Percent Trailing Stop from Entry Price to your own strategy.
You can ignore the actual entry/exit orders - they're based on a simple MA cross and are therefore NOT relevant, NOT profitable and NOT recommended!
You should be using this code as a way of adding a % Trailing Stop to your own scripts - hope it helps!
You should also notice that a generally considered losing strategy (a simple MA cross) could actually become profitable with careful money management - try combining this Trailing Stop script with our Fixed Stop/Take Profit script for really accurate management of your capital.
hi , i want to delay 1 or 2 bars my selling signal strategy for impulse purchases. just like sell + 1 bar candle close. how can i delay my sell signal for strategy could you help me ?
theCrypster
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Hey - We've just added our Percent Trailing Stop code for Study Scripts too! This is a game-changer!
@theCrypster, this is great, thanks for posting this. I have been searching trailing stop for long time. I have one question/request (feature that I don't know how to code-yet) If alert is set on this script "on once per bar" will it catch intrabar wicks? Or should this be coded in script? (with source "high" instead of "close"?)
dmrajani
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Many Thanks for sharing, i modified it to my requirement and it ended my search for customized TSl
A_Traders_Edge
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Hi, firstly, my I commend you on your being present in the community and doing your part. Now the question...would it create any issues if I was to simply merge this with your "Fixed Percent Stop Loss" script. Great job on keeping it simple...yet effective. Peace brother.
theCrypster
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@chasinalts, Thanks for the kind words! We've combined them successfully on various projects, it poses no real problems and makes for a very effective SL strategy. Especially when you want a tight initial stop followed by a wider trail SL. Wish you all the best buddy.