OPEN-SOURCE SCRIPT
Binque's Stop Loss Indicator
Binque's Stop Loss Indicator is a great way to visualize a trailing stop loss based on a percent from the high. i.e. If the high was $10 of a trading day and your stop loss was set at 5% (percent) then your chart would show a small dot 5% below the high of the day. This is a great way to quickly see a trailing stock idea. Change the color to match your back ground. Adjust your trailing stop loss to fit your trading style.
Note: This indicator is calculated off of the daily high.
Note: This indicator is calculated off of the daily high.
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 publication is governed by House rules. You can favorite it to use it on a chart.
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