75+ win rate
Trailing stop always used as exit point
To trade only with the trand - enable MAs in the Inputs tab
x - means Entry signal is active and waiting for long validation
B - on a closed bar is entry signal for long
C - on a developing bar is exit long signal
Green line - long validation line. must close above to go long
Pink line - trailing stop
On Long Entry alert - use Once Per Bar Close option.
On Long Exit alert (Trailing stop triggered) - use Once Per Bar option to trigger sooner and protect your capital.
Always do your own analysis and make trades on your own risk. Find a confluence point where everything aligns and make your own decision. Don't enter a trade because the indicator tells you so. You are free to make a copy of the script and change it to your own needs for your own personal use.
Important: This script is intended to be used with Heikin Ashi candles.
- Added blue line - Long Entry point
- Added trailing stop to break even on green candles. Enabled by default
- Trailing Stop on all red candles
MAs changed to fib MAs (8-13-21-55) - disabled by default
Added option to trail stop loss for all higher highs above entry price - for tight stop
Enabled 'Buy On Higher High' option by default for faster entry (set alarm One Per Bar option to get the alarm asap)
Fixed a few bugs
First higher low above entry is trigger for trail SL
Added more settings for rules on how trailing SL should work - can be changed from the inputs page
Also added a new rule: a candle that wicks bellow the line and triggers SL and then turns back green is considered a signal candle. That way we reenter faster the trade after a fake out.
-Closing green candle is signal for next trade
-Closing red candle is signal for next trade
The high of the candle will be the entry point for the next trade. This is meant for faster reentry after a fake out. The option can be disabled from the inputs tab.
added more options to trail SL. (can be customised in the inputs tab)
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.