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Stepped trailing strategy example

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

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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