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OPEN-SOURCE SCRIPT
Updated

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.
Release Notes
  • Minor typos
Release Notes
  • Add the ability to disable trailing for demonstration reasons
  • Close open orders on trend reversal
  • Add sell labels on cross-under
Release Notes
  • 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
Release Notes
  • Refactor stopValue calculation to be more readable
Release Notes
  • Fix longIsActive logic
Release Notes
  • 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
Release Notes
  • Set calc on every tick to false by default, as fgo943 suggested
Release Notes
  • Minor Update the chart for a better overview and understanding of the trailing stop loss
Release Notes
  • 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
Release Notes
  • Draw lines with width 1
Release Notes
  • Update to pinescript V5
  • Stop Loss step is now 0.05
Release Notes
  • Let's face it a Green-Red color model is more intuitive!
Release Notes
  • Happy New Year!
  • Many code refactorings and optimizations to better use this script as a template and plug your own strategy at ease
Release Notes
  • 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!
Release Notes
  • (minor) refactoring
Release Notes
  • Use time_filters library
Release Notes
  • Minor revision update
Release Notes
  • Replace deprecated "when=" with if statements in strategy calls
Release Notes
  • Change fastMA default color to yellow
Release Notes
  • Increase max labels to 300
  • Minor refactoring
Release Notes
  • Update time_filters library
Release Notes
  • Some minor label/color changes
Release Notes
  • small refactoring
Release Notes
  • Update time_filters library version
Release Notes
  • Update time_filters library version
Release Notes
  • Use the 'chrono_utils' library for the date-time window filter
Release Notes
  • Add different alert messages per event
  • Update 'chrono_utils' library
jason5480
📧 Contact info
Telegram: @jason5480

🔗 Addresses
₿ - bc1qxh3jeld7ke70fx3r5q243d96jsx0etth6x8fa7

* Please contact me before any donation ☕
Moving Averagestrailingtrailingstoploss

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.

Want to use this script on a chart?

jason5480
📧 Contact info
Telegram: @jason5480

🔗 Addresses
₿ - bc1qxh3jeld7ke70fx3r5q243d96jsx0etth6x8fa7

* Please contact me before any donation ☕

Disclaimer

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