adolgov

Stepped trailing strategy example

adolgov Updated   
This is a stepped trailing exit example for educational purpose.

Short brief.
There are 1 stop loss and 3 profit levels.
  • When first tp is reached we move stop loss to break-even.
  • When second tp is reached we move stop loss to first tp.
  • When third tp is reached we exit by profit.
Release Notes:
Stop Loss & Take Profit in %% for independence from instrument's tick size.
Release Notes:
New input `activateTrailingOnThirdStep` added.
With `activateTrailingOnThirdStep = true` when tp2 will be reached, the strategy places trailing stop with amount at tp3 level and offset at tp2 level.
By default the old behavior remains.
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.

Disclaimer

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