In this strategy you have a choice of 3 different Trailing Stop Loss types:
- Standard % – standard percent based TSL
- Fibonacci Level – close your position on another Fibonacci level or basis line of BB.
- Parabolic SAR – adapted as trailing stop loss.
For Standard % and , you can use the “TSL Offset” parameter to set an initial offset for trailing stop loss.
- BB Length – Bolinger Bands Length
- Fib Entry Level – Entry BB Multiplier level. Can be one of Fibonacci levels: 0.236, 0.382, 0.5, 0.618, 0.786, 1.000
- Trailing SL Type – Type of Trailing Stop Loss used to close positions. Can be one of 3 types: “Standard %”, “Fibonacci Level”, “Parabolic SAR”
- TSL Offset (%) – Initial offset for TSL . Applicable to “Standard %” and “Parabolic SAR”
- TSL Fib Level – Fibonacci level used for “Fibonacci level” type of TSL
- TSL PSAR Start / Increment / Maximum – parameters for PSAR type of TSL .
- Strategy side – you can choose the side of the strategy. You can require strategy to go only Long, Short to Both sides.
- From/To Day/Month/Year – you can use these parameters to set backtesting range to check the performance of your strategy on a specific range
It's a pro indicator, you can have access to it for a small fee. Link to my PRO indicators you can find in my signature.
Please remember that past performance may not be indicative of future results.
Due to various factors, including changing market conditions, the strategy may no longer perform as good as in historical backtesting.
This post and the script don’t provide any financial advice.