Trailing Take Profit Trailing Stop Loss

Apr 18, 2021

This script demonstrated a dual trailing take profit and stop loss strategy. Where you take 50% (configurable) of the profit when a price level is reached and then you get the rest when a trailing stop loss is hit.

Apr 21, 2021

Release Notes

• Logic for short positions added
  
• Logic to exit when "trend" (based on the two sma) changes. This prevents overlapping positions and results in more clear demonstration.
  
• Add option to enable/disable stop loss trailing
  
• Add min max for inputs
  
• Add plots for short take profit and stop loss
  

Apr 24, 2021

Release Notes

• Fix bug that caused Stop Loss to not set correctly when Take Profit was triggered in the very first candle
  
• Give more descriptive names to strategy orders
  

Apr 25, 2021

Release Notes

• Fix quantity taken on "Short Take Profit" order to match the given quantity percentage given by the user
  

May 4, 2021

Release Notes

• Add the option to start Stop Loss trailing from the beginning of the entry order as Soincoin proposed
  
• Trailing Stop Loss is enabled when TP order is filled not when TP target is reached
  
• Simplified Take Profit and Stop Loss Price code to be more readable
  
• Simplified strategy orders
  
• Add offset to the plots to have a more intuitive representation
  
• Fixed a bug where TP and SL orders were not filled if they triggered in the very first candle
  
• Don't draw the TP price if the TP order is filled
  

May 22, 2021

Release Notes

• Fixed a rare bug that caused some transactions to not exit 100% of the position size when Stop Loss and take Profit was hit at the same candle.
  
• Fixed a bug that made the percentage quantity handled by the Stop loss order incorrect.
  
• Changed the name of "Take Profit" odrers to "Take Profit / Stop Loss" to better reflect the fact that the order will exit if stop loss price is reached first.
  
• Simplified strategy order code and added closeLongDeal and closeShortDeal variable to make code more readable.
  

May 24, 2021

Release Notes

• Add check to calculate TP and SL prices when it is within backtest period to avoid unnecessary calculations and painting outside the area of interest
  
• Add check to the Take Profit Executed condition that compare the high/low price with the take profit price
  

May 24, 2021

Release Notes

• Replace deprecated transp argument with color.new to prevent warnings during compilation of the script
  

Aug 7, 2021

Release Notes

• Fix a rare bug that were causing the stop loss to be calculated wrong when there was a back to back entry with the previous one
  
• Use strategy.percent_of_equitity
  
• Draw lines with width 1
  
• Add highlighter for positive and negative price moves
  

Oct 11, 2021

Release Notes

• Update to pinescript V5
  
• Take profit steps to 0..05 and deviation steps to 0.01
  

Oct 11, 2021

Release Notes

• Minor transparency issue
  

Oct 11, 2021

Release Notes

• Transparency deprecation
  

Nov 7, 2021

Release Notes

• New Break Even feature added!
  

If Break Even check box is checked, then when the take profit price is hit, the stop loss will be moved to the entry price or "better" depending on the stop loss % and the trailing settings. The more strict value will be applied.

Nov 28, 2021

Release Notes

• Let's face it a Green-Red color model is more intuitive!
  

Nov 28, 2021

Release Notes

minor optimization

Dec 23, 2021

Release Notes

• Thanks to the user HBGJA for pointing out and solving a bug that caused longs after a short close alerts not to be executed.
  

Jan 1, 2022

Release Notes

• Happy New Year!
  
• Most of the questions I had last year was about setting strategy alerts and connecting them with webhooks to your bots.
  So I added the ALERT MESSAGES section to show you how you can send different execution messages to your bots and execute your orders!
  If you are using the 3Commas bots all you have to do is to put your bot IDs and email token in the strategy settings. Add an alert, check the webhook, set the URL and write the [[strategy.order.alert_message]] in the message text box.
  If you are using any other bot system that can be used with webhooks, you can always modify the messages according to your Bots API
  
• Many code refactorings and optimizations to better use this script as a template and plug your own strategy at ease
  

Jan 1, 2022

Release Notes

• Add bot tags
  

Jan 3, 2022

Release Notes

• Fix quotes around string message fields of 3Commas messages (message_type, email_tocken, action)
  

Jan 4, 2022

Release Notes

• Let the user put the whole alert message as an argument. Strategy will forward it to the {{strategy.order.alert_message}} place holder as it is
  

Jan 6, 2022

Release Notes

• Bug fix: (rare/minor) Remove 'strategy.position_size == 0' condition in stop loss calculation that made the very first stop loss price target to be calculated based on previous 'strategy.position_avg_price' instead of 'close' if the previous position closed exactly one bar before!
  

Jan 12, 2022

Release Notes

NEW FEATURE! After many requests for an ATR based trailing approach I added:

• A new take profit method that is ATR based. Now you can set the length and the multiplier for long/short in the settings menu.
  
• A new deviation method that is also ATR based. Deviation is used for take profit trailing!
  
• A new stop loss method that is ATR based. Now you can set the length and the multiplier for long/short in the settings menu.
  

Jan 24, 2022

Release Notes

NEW FEATURE RELEASE (TOO RISKY :P)

• Risk/Reward Ratio Take Profit type added! Now you can set price target based on RR and your stop loss
  
• Risk management for entry quantity calculation is added! You can set what percentage you are willing to risk for every trade and the amount for the entry is calculated accordingly
  
• Leverage variable is added that multiplies the initial amount of every trade
  
• Set minimum trade price that your exchange support
  
• Set max drawdown percentage to stop strategy
  

Feb 16, 2022

Release Notes

• Re-write the risk quantity formula to clamp the amount between minimum trade and the equity (multiplied by the leverage)
  
• Add the option for different leverage factors for long and short trades
  

Feb 26, 2022

Release Notes

This script development has gone far beyond my expectations and from a combination of trailing take profit and stop loss, had became a template for new strategies to develop. New interesting feature requests was implemented. However, I decided to create a separate script that will work as a template for new strategies and that can be found [here](tradingview.com/script/n8bgynWl-Template-Trailing-Strategy/) with even more features! The features that are irrelevant from the initial purpose of this script were removed to minimize the clutter. At this point I want to thank all those people in the community that helped this to become a robust implementation by reporting several bugs to me after an extensive testing and thoroughly checking edge cases in different market conditions!

Jul 3, 2022

Release Notes

• Use time_filters library
  

Jul 9, 2022

Release Notes

• Replace deprecated "when=" with if statements in strategy calls
  

Jul 13, 2022

Release Notes

• Change fastMA default color to yellow
  

Jul 29, 2022

Release Notes

• Increase max labels to 150
  
• Increase max lines to 300
  
• Minor refactoring
  

Aug 9, 2022

Release Notes

• Update time_filters library
  

Sep 2, 2022

Release Notes

• Some minor label/color changes
  
• Minor refactoring of the code
  

Jan 10, 2023

Release Notes

• small refactoring
  

Jan 17, 2023

Release Notes

• Update time_filters library version
  

Mar 19, 2023

Release Notes

• Update time_filters library version
  

Nov 24, 2023

Release Notes

• Use the 'chrono_utils' library for the date-time window filter
  

Sep 19

Release Notes

• Add different alert messages per event
  
• Update 'chrono_utils' library
  
• Use enums