OPEN-SOURCE SCRIPT
Tightening Trailing Stop Loss
A utility tool to independently simulate a Trailing Stop based on ATR and Recent Candle Structure. It's most helpful if you only want something to independently trail a Stop and nothing else. For example, if you decide where to enter via a discretionary system, but like trailing Stops via code.
It's used by changing the 'Start Date' to the date where you wish to enter. It'll then display a Stop and Trail it, until it intersects with a candle. The Indicator will hide itself when it intersects with a candle to avoid cluttering the chart. It only moves in the direction of risk, so that means that, when set, it'll never increase the risk of your trade, unlike simple ATR bands. However, it does require resetting manually for each trade.
By Default, it uses a 10 Period RMA ATR, which is set 0.5 ATR away from the Low/High of the recent candle structure. It'll tighten each candle by multiplying it's value with .95, meaning it always tightens a little. All of these can be changed in the settings to match your preferred method of Setting/Trailing Stops
It's used by changing the 'Start Date' to the date where you wish to enter. It'll then display a Stop and Trail it, until it intersects with a candle. The Indicator will hide itself when it intersects with a candle to avoid cluttering the chart. It only moves in the direction of risk, so that means that, when set, it'll never increase the risk of your trade, unlike simple ATR bands. However, it does require resetting manually for each trade.
By Default, it uses a 10 Period RMA ATR, which is set 0.5 ATR away from the Low/High of the recent candle structure. It'll tighten each candle by multiplying it's value with .95, meaning it always tightens a little. All of these can be changed in the settings to match your preferred method of Setting/Trailing Stops
Script open-source
Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Script open-source
Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.