I am not a financial advisor and this is not financial advice. This is provided for illustration only for a Percent based Trailing Stoploss.
I have been looking for a Percent based Trailing Stoploss and have not been able to find one that would work for me so I wrote my own. This works in both a Strategies and Indicators I put comments inline of where to add or remove comments// depending on which one you are aiming for. The simple EMA crossovers are there just to give the strategy something to do. To use, copy the Stoploss section, the inputs at the top, and the reset under the sell section to your own script. When I first started out I found the code for removing the redundant signals and then used it in most of my scripts. For the life of me I do not remember where I got it - either in a comment in Tradingview or on a reddit post, so if you wrote that part, thank you.
About me: I have only been working with PineScript since January 2022 and have never been much of a coder from a professional standpoint but decided to jump in and learn Pine mainly because I am a crap, emotional trader and this way I can remove that aspect of it and lose my money programmatically as opposed to making it a conscious decision :)
Great job man! Thank you very much for sharing this code. I am trying to make it work with built-in Bollinger Bands Strategy . Newbie coder here , any tip?
Thumpyr
⋅
@Ivan_777777, I use this as a template for just about any strategy I have coded. The main thing I do in my Strategies is to stack the BuyConditions if I have more than one. I also load any formulas, indicators, etc into the Indicator Section i.e: ///////////////////////////// //// Buy Conditions //// ///////////////////////////// Buy1 = whatever buy condition1 Buy2 = whatever buy condition2 Buy3 = whatever buy condition3 alertBuy = Buy1 or Buy2 or Buy3
If you do that, the TrailingStopLoss will function regardless of how many Buy conditions you are looking for. I have no idea how to set that up for Shorts. My exchange doesn't allow that, so I only do long trades.