OPEN-SOURCE SCRIPT
Trailing Stop Loss
Updated
Trailing stop loss indicator to determine when to exit a position.
Multiple trailing stop loss calculation techniques are implemented:
The script also implements alerting to be notified when the stop loss price is reached.
Multiple trailing stop loss calculation techniques are implemented:
- ATR: Determines stop loss using a gap from recent highest value, that gap is defined by the ATR value and a multiplier
- MA: Just a simple moving average used as a stop-loss
- Percentage: Uses a percentage of the price
The script also implements alerting to be notified when the stop loss price is reached.
Release Notes
Update to Pine Script v5Open-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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