MTA-Traling Stop

alexgrover Wizard Updated   

Based on my previous indicator , this indicator plot a trailing stop using classic conditions.

Using The Indicator

Like any trailing stop when price is higher than the trailing stop this imply a buy signals, when price is lower than the trailing stop this imply a sell signal. It is possible to use decimals instead of integers for length as shown here :

length = 14.7

The indicator tend to react faster to price movements when a trend has been really long, this methodology is similar to the one used by the parabolic sar.


Lack of robustness with the length parameter, the behaviour of the trailing stop can be hard to predict. There is a real need for control.


The indicator can be adaptive, even if it already is in a certain way, by changing the alpha variable at the start considering that 0 < alpha < 1. Its not recommended to use it right now except for testing/coding purpose.

It is clear that i'm not enthusiast when it come to this script, there is a real lack of accuracy, i still hope it can be of use.
Release Notes:
Updated to version 3


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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 a publication is governed by House Rules. You can favorite it to use it on a chart.


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