Scalping using RSI 2 indicator with TP and TSLThis study implements a simply scalping using the RSI (calculated on two periods), the slopes of two MAs (EMA or SMA) having different lengths (by default, I use 50 and 200).
A take profit (%) and a trailing stop loss (%) are used.
Entry conditions:
.) Fast MA > Slow MA and Price > Slow MA and RSI < Oversold Threshold ------> go Long
.) Fast MA < Slow MA and Price < Slow MA and RSI > Overbought Threshold ------> go Short
Exit conditions:
.) Long entry condition is true and (close >= TP or close <= TSL) ----> close short position
.) Short entry condition is true and (close <= TP or close >= TSL) ----> close long position
The strategy performed best on Bitcoin and the most liquid and capitalized Altcoins but works excellent on volatile assets, mainly if they often go trending.
Works best on 3h - 4h time frame.
There's also an optional Volatility filter, which opens the position only if the difference between the two slopes is more than a specific value, which can be set in the study inputs. The purpose is not opening positions if the price goes sideways and the noise is way > than the signal.
Note:
.) the RSI length is 2;
.) the oversold Threshold is 90%;
.) the overbought Threshold is 10%;
.) by default, the take profit per cent is 0.5%;
.) by default, the trailing stop loss per cent is 0.5%;
.) by default, the fast MA length is 50;
.) by default, the slow MA length is 200;
.) by default, the MA used is EMA.
Cheers.
Trailingstoploss
Fishing The Trend - SetupFishing The Trend - Setup
HOW Does it work ?
The name itself says we must have a trading setup for ease of trading for getting the most from the market.
i.e. Combining the most useful indicator under one roof...
Fishing The Trend - Setup have following ::-
1) IntraDay Range.
2) Four Friends.
3) Fishing The Trend.
4) Multi Time Frame - Custom VWAP.
5) RSI based SMA.
1) Intraday Range
HOW Does it work ?
For calculating the average most probable range for any plotted security, it plots 2 bands higher band and a lower band for a particular range using the default ADR. This indicator is on - as default.
# Upper and Lower band act as support and resistance , user may see a reversal in trend from these bands
# If the price breaks these bands, don't take a trade expecting a reversal
# These bands are calculated by averaging the previous x number of days' highs and lows of the security.
2) Four Friends
HOW Does it work ?
Plotting different EMA for finding the direction of Trend / Market, There are actually 5 EMAs- F1 = 20 EMA, F2 = 50 EMA, F3 = 100EMA, F4= 150, and Trend = 200-EMA. Usually 200 EMA is used to find the trend of market whether bearish / bullish, if market is above 200 ema than we may say its bullish and below 200 ema its bearish. The 50 EMA and 100 EMA works as best pullbacks in the trending market, user can configure as per his trading style and method. This indicator can be changed to multi timeframe as required. User can plot lower time frame data onto higher time or vice-versa for finding better opportunities for early trend detection, also the user have the option to use feature of non-repainting or vice versa. The default Color MA option is un=ticked, means plotting 5 different color EMAs, If the user ticks this feature, the whole 5 EMA color will change into red or orange as per direction of closing candle, user can change color as per his / her color combination. Default plotting time is of 1 min. This second indicator is off by default - user have to tick-it to activate it
3) Fishing The Trend
HOW Does it work ?
The code uses dynamic current levels to identify trend, This indicator is using SuperTrend, ATR and relatively Smoothened ATR for
early trend reversal detection to determine the trend and direction so that a fruitful decision can be made.
To Indicate the strength of the trendline, The standard calculations of SuperTrend, along with multiple smoothen ATR results are clubbed determine the direction, a step ahead. However, the indicator is not appropriate for all the situations. It works when the market is trending. Hence it is best to use for short-term technical analysis . SuperTrend uses only the two parameters of ATR and multiplier which are not sufficient under certain conditions to predict the accurate direction of the market. Here in this indicator ATR value is not editable and after long backtests the best ATR value is kept that helps the indicator working very well.
The default setting is best for use, but user can customize the Multiplier for his own fine tunings, So once the Levels are matched, a Long / Short suggestion is plotted. Best Time Frames to use : starting from 1, 3, 5, 15, 30 Mins and so on... to determine Trend.
Long = L and Short = S.
Where and how to use?
The main use of this indicator is quick scalping and Intra-day trading. The Indicator shows the option to show Long/Short Signals which the use can be turned on or off. The indicator shows a very useful option for early detection of the ongoing trend whether there will be reversal of trend or not ?
Stop Loss - That should be done by following ones risk appetite, Ideally the High of the Previous Candle should be the stop loss for
the Long / Short but everyone has their own Risk Management Strategies based on the capital deployed.
by default this comes on..
4) Multi Time Frame - Custom VWAP.
HOW Does it work ?
VWAP = The volume weighted average price (VWAP) is a trading benchmark used by traders that gives the average price a
security has traded at throughout the day, based on both volume and price. It is important because it provides traders with insight into both the trend and value of a security.
This indicator is programmed for using vwap for spot indices / securities not having volume calculations but have futures, specially banknifty and nifty of Indian markets. User has option to change the plotting timeframe as per his requirements for checking the trend under vwap or over vwap. The user have to type the equivalent script symbol in the space provided to calculate the vwap of that particular security and plot on the non-volume script. Seems confusing !!!! have a look
at example..
eg. - if you have chart of banknifty spot and u want to place vwap on in then just write security name in the blank field banknifty future of continuous contract running month " BANKNIFTY1! " Futures Chart... that's it and u will have futures vwap plotting on spot chart... this can give user a definite idea about the vwap line. User have option to change color of bar and change color of the
vwap line which is plotted.
By default this comes off..
Note = This indicator changes bar color
5) RSI based SMA
HOW Does it work ?
# This indicator is for user using RSI, The twist is that not only it uses RSI but also simple moving average, So this makes the user more safe as it is a combination of RSI and SMA.
# Multi-colored ----> Green/Red/Yellow user can change ..moving average of choice
# user can change overbought / over sold values of RSI as required. The time frame here is fixed.
* There is an On/Off Option for each Indicator.
Disclaimer : There could be scenarios when the candle is shown as a long or short and then the candle turns into opposite direction red/green. In such scenarios , Please refer to the just preceding candle and the early detection signal and if this candle is moving into positive direction only then go for long, Similarly opposite for Short, the value of multiplier 1.0 is determined using series of back test across various assets with different time frames.
User Options : Choice of turning on / off the Long / Short Labels and early detection/StopLoss Option can also be activated or deactivated.
Visual Checks - The user could manually validate the back test results on various assets they would like to use this strategy on before putting it live.
Usage/Markets : Index Trading / Equities and also well with Commodities and Currencies
How to get access
Please click on the link / email available in the signature or send me a private message to get access.
Feedback
Please click on the link/email in the signature or send me a private message for suggestions/feedbacks.
Percent Drop from Highest HighBuy and hold investors may decide to use trailing stops to protect profits and capital from market crashes, especially during bull markets.
The purpose of this indicator is to hep investors to identify a location to place them. The indicator plots the highest high from 'x' bars ago. It then plots a trailing stop loss 'y' percent below that line.
The indicator enables its users to input different 'x' and 'y' values to observe what they think works best for them in different markets.
Users might choose to pair the indicator with trend confirming indicators, such as moving average cross overs, to determine that the market is trending and not ranging.
There is no magic in this indicator, only maths. Like every indicator, it has no ability to predict anything. Just because the market is doing one thing now, it might do something different later. The past does not equal the present nor the future. Make your own decisions and be responsible for them.
All the best to you and your family.
Trail with Bar Time [NBL]Hello Everyone its Trailing stop loss Indicator with Bar Time if you want to Trail Your position with Specific Bar or time You can also Trail. Basically, its indicator we are using automation Trading
How to work its indicator?
➤ if you want to Trail Your Position according to Specific Bar or time
Indicator Feature
➤ Long Side TSL hit With Alerts
➤ Short Side TSL hit With Alerts
➤ Both Side TSL hit With Alerts
➤ You can also Select Specific Bar
➤ You Can Also add Trailing with Percentage or Point
➤ You Can Also Select Trailing calculate Bar Source Like Open, Close, High, Low etc More.
Important: This Indicator we are using for Automation Trading if You Want This Indicator Access Please Contact me PM on Tradingview
Ultimate Risk Management System 📈With this tool you can run multiple instances for Stop Loss, Take Profit, Trailing Stop or Trailing Take Profit.
Why use it?
> Some trading platforms don't offer special tools like Trailing Stop;
> In case they do, they don't have to know where you put your stops;
> TradingView offers high performance, you can see the tool working in real-time.
Main Features:
- Real-time;
- Long Order;
- Short Order;
- Stop Loss;
- Take Profit;
- Trailing Stop Loss;
- *Trailing Take Profit.
Disclaimer: This system may help you cut out your losses or lock in your profit, but it does not guarantee profit. Always use at your own risk.
Jackrabbit.modulus.TrailingThis is a full, true, and pure implementation of trailing buy/sell for the Jackrabbit suite and modulus framework.
This module is not a standalone and relies on previous modules to send a signal data in order to function properly. This module acts on buy and sell data from within the indicator on indicator framework that TradingView supports.
This module adds the ability to trail a buying position to its lowest value or if it breaks a retracement percentage (user defined). It also allows trailing a sell position with an user defined retracement. It can managing buy and selling or just buying or selling.
This module does NOT allow accumulation during the trailing process. If a buy signal is received while the module is already trailing a previous position, if the price is lower then the previous position, the current position is used, otherwise it is ignored. The same holds true for selling. Once the position is bought, accumulation will resume as normal for the next position.
The chart displays (for both buying and selling):
The current price, its retracement value, and the original price.
Note that the buy or sell does NOT actually take place until the price action crosses retracement.
The Jackrabbit modulus framework is a plug in play paradigm built to operate through TradingView's indicator on indicatior (IoI) functionality. As such, this script receives a signal line from the previous script in the IoI chain, and evaluates the buy/sell signals appropriate to the current analysis.
This script is by invitation only. To learn more about accessing this script, please see my signature or send me a PM. Thank you.
Trailing StopThis indicator is a simple trailing stop.
with this we can trail our price.
inputs that we can put with this indicator are:
1. Entry price: open, close, high, low, etc.
2. Position: Long, Short
3. Stop loss range: integer value only
4. Entry hour, Entry minute, Entry month, Entry Year, Entry Day
By taking all the above input this will work according to the input.
Thank You.
Profit Maximizer PMaxPMax is a brand new indicator developed by KivancOzbilgic in earlier 2020.
It's a combination of two trailing stop loss indicators;
One is Anıl Özekşi's MOST (Moving Stop Loss) Indicator
and the other one is well known ATR based SuperTrend.
Both MOST and SuperTrend Indicators are very good at trend following systems but conversely their performance is not bright in sideways market conditions like most of the other indicators.
Profit Maximizer - PMax tries to solve this problem. PMax combines the powerful sides of MOST (Moving Average Trend Changer) and SuperTrend (ATR price detection) in one indicator.
Backtest and optimization results of PMax are far better when compared to its ancestors MOST and SuperTrend. It reduces the number of false signals in sideways and give more reliable trade signals.
PMax is easy to determine the trend and can be used in any type of markets and instruments. It does not repaint.
The first parameter in the PMax indicator set by the three parameters is the period/length of ATR.
The second Parameter is the Multiplier of ATR which would be useful to set the value of distance from the built in Moving Average.
I personally think the most important parameter is the Moving Average Length and type.
PMax will be much sensitive to trend movements if Moving Average Length is smaller. And vice versa, will be less sensitive when it is longer.
As the period increases it will become less sensitive to little trends and price actions.
In this way, your choice of period, will be closely related to which of the sort of trends you are interested in.
We are under the effect of the uptrend in cases where the Moving Average is above PMax;
conversely under the influence of a downward trend, when the Moving Average is below PMax.
Built in Moving Average type defaultly set as EMA but users can choose from 8 different Moving Average types like:
SMA : Simple Moving Average
EMA : Exponential Movin Average
WMA : Weighted Moving Average
TMA : Triangular Moving Average
VAR : Variable Index Dynamic Moving Average aka VIDYA
WWMA : Welles Wilder's Moving Average
ZLEMA : Zero Lag Exponential Moving Average
TSF : True Strength Force
Tip: In sideways VAR would be a good choice
You can use PMax default alarms and Buy Sell signals like:
1-
BUY when Moving Average crosses above PMax
SELL when Moving Average crosses under PMax
2-
BUY when prices jumps over PMax line.
SELL when prices go under PMax line.
Buy/Sell/TP/SL/TSL Alerts ModuleThis tool is not a self-sufficient indicator, just an attachable module that allows you to enhance a specific indicator with risk management components without having a headache.
What you need to do, and actually this is the most important step, is to rewrite your indicator to a buy-sell signal form which will output only -1, 0, 1 values and then connect it to the module.
After that the module gives you a lot of possibilities to customize Take Profit, Stop Loss and Trailing Stop Loss levels through the settings window and to set all the alerts you need up.
Simple Buy/Sell setup for the RSI:
Now I am adding Stop Loss:
and Take Profit:
and finally Trailing Stop Loss:
Okay, I have shown how it works with RSI signals. Here is example for the MACD:
and example for the WaveTrend Oscillator:
If you have any questions don't hesitate to ask and contact me either via private messages on TradingView or via Telegram
Guppy Count Back LineThe Guppy Count Back Line was created by Daryl Guppy and is essentially a trailing stop indicator. I have color coded the indicator to tell you if you should go long or short.
This was a special request so let me know if you would like me to write more scripts for other indicators!
ST0PST0P is a kind of a TRAILING STOP LOSS INDICATOR in which users can set up LONG or SHORT trade versions and also can set up a STOP LOSS level by percent % or unit difference.
It tries to solve the problem of stop loss indicators' default BUY or SELL settings and non adjustable stop levels of % and difference change in price levels.
(Will try to make updates to add user defined start bars.)
Kıvanç Özbilgiç
MTF Trailing SL Alerts [QuantNomad]These are alerts for my MTF Trailing SL Strategy.
Entry Long position if all 4 time-frames agree on the long signal.
Exit Long positions when at least 2 time-frames disagree on the long signals.
Entry to Short position if all 4 time-frames agree on Short signal.
Exit from Short positions when at least 2 time-frames disagree on Short signal.
Use "Once Per Bar Close" when creating alerts.
Link to the strategy:
Williams Fractal Trailing StopsUnlike the built-in version, you can configure how many bars it takes to confirm a fractal. This indicator plots all Williams high and low fractals, and a stop line that trails the fractals up and down. Includes long and short stop alerts. You can choose whether the trail flips long-short based on the price being exceeded within a candle or on candle close. This indicator deals only with fractals and doesn't get into the Alligator or anything else.
I've commented it extensively, so that it might be useful for people learning Pinescript. Enjoy!
Trailing SL Alerts [QuantNomad]It's alerts version of my Trailing SL strategy:
Use "Once Per Bar" param when creating alerts.
[BT] - Manual TSSL [ALERTS] v1Manual TSSL - V1
Enter the market on your own, and use this script to alert you when to sell. I found myself many times in position but wanted a script to help automatically exit the market when I stepped away.
Directions
You must provide the timestamp and price in the settings. Adjust the TSSL settings, make sure you leave enough room so the market can breath. Once the price goes below the bottom TSSL red line, is when the alert will trigger. Added some labels to keep track of the buy/sell and when the bottom TSSL price moves up.
If you like this idea, but would like another indicator instead of TSSL, please feel free to message me directly.
Thanks for looking!
London Breakout with MDX Trailing StopThis indicator aims to aid in using the regular London Breakout strategy, as well as improve on it by adding a trailing stop based on the Mean Deviation Index.
The London Breakout strategy (according to my personal understanding) basically sees the morning before London open as the accumulation or distribution range for large buyers or sellers, and assumes the market will break either above that mornings high or below that mornings low when they start to move price. It is mostly used to trade stock indices and forex.
This indicator plots the morning high and low for each day. The green line is the morning high, and the red line is the morning low. If price moves above the green line (the morning high) it fills that area with a green color. If price moves below the green line (the morning low) it fills that area with a red color. This makes the breakouts easy to spot.
The background color of the chart turns green when the MDX is above 0 (price is more than X times ATR above the mean) and a breakout above the morning high has occurred, and stays green until the opposite happens.
The background color of the chart turns red when the MDX is below 0 (price is more than X times ATR below the mean) and a breakout above the morning high has occurred, and stays green until the opposite happens.
The default for X above is 1.0, but this can be changed in the settings by changing "ATR Multiplier".
The background is always neutral during the morning session since the morning high and morning low are not established yet.
A trailing stop is shown when price is more than X times away from the mean and a breakout has occured. The distance is set using the MDX. The trailing stop uses a separate ATR multiplier though, to make the signal and trailing stop MDX values different, if one likes. The default ATR multiplier for the trailing stop is 1.25, but this can be changed is the settings by changing "ATR multiplier for trailing stop".
When the high or low of a candle breaks the trailing stop, it is moved further away, indicating you have been stopped out, but gives opportunity to use it if you enter again (so it doesn't just disappear).
As an added bonus, take profit levels have been added based on the mornnig range. The take profit distance is set by multiplying the range with a factor. The levels are then plotted that distance from the morning high and morning low.
MDX:
Simple Moving Average - ATR Trailing StopThe old adage goes "Cut losers fast and let the winners run"
With this in mind, this will plot a dynamic trailing stop by subtracting any multiplier of the Average True Range (ATR) from the SMA of your choice.
Trailing % StopTrailing % Stop is a simple Stop Loss indicator which users have to define a % percent rate to trail the price like MOVING STOP LOSS "MOST" Indicator.
The main difference is MOST refers to exponential moving averages although Trail % Stop refers to source price.
Default price of source is CLOSE price which can be optimized by the user.
"What is a Trailing Stop-Loss?
A trailing stop-loss order is a special type of trade order where the stop-loss price is not set at a single, absolute dollar amount, but instead is set at a certain percentage or a certain dollar amount below the market price. A trailing stop-loss is sometime referred to simply as a trailing stop.
How a Trailing Stop-Loss Works
When the price goes up, it drags the trailing stop-loss along with it, but when the price stops going up, the stop-loss price remains at the level it was dragged to.
A trailing stop-loss is a way to automatically protect yourself from an investment's downside while locking in the upside.
For example, you buy Company XYZ for $10. You decide that you don't want to lose more than 5% on your investment, but you want to be able to take advantage of any price increases. You also don't want to have to constantly monitor your trades to lock in gains.
You set a trailing stop on XYZ that orders your broker to automatically sell if the price dips more than 5% below the market price.
The benefits of the trailing stop are two-fold. First, if the stock moves against you, the trailing stop will trigger when XYZ hits $9.50, protecting you from futher downside.
But if the stock goes up to $20, the trigger price for the trailing stop comes up along with it. At a price of $20, the trailing stop will only trigger a sale if the stock drops below $19. This helps you lock in most of the gains from the stock's rally.
In the example, you could also decide you don't want to lose more than $2 on your $10 investment. If the stock goes up to $20, the trailing stop-loss would drag along behind the price and only trigger a sale if the stock falls to $18.
Why a Trailing Stop-Loss Matters
A trailing stop-loss can be good for investors who may not have enough discipline to lock-in gains or cut losses. It removes some of the emotion from the trading process and offers some capital protection automatically.
There are some drawbacks to consider. First, you need to consider your trailing stop percentage or amount very carefully. If you're investing in a particularly volatile stock, you could find the stop level triggered fairly frequently."
Long Short signals and alarms are also included.
Ori Double-sided MOST MTFInspired by Anıl ÖZEKŞİ's Moving Stop Loss. This script using similar double sided trailing stoploss logic but i think MOST is not a truly double-sided since you can only select one value for percentage and it uses this value for calculating both sides. In this Double-sided MOST you can set each percentage seperately for uptrends and downtrends.
Toggle for Multi Time Frame
Hide/Show EMA
Toggle for candle colors
Toggle for filling between lines
Toggle for source
Can be applied to other indicators
ATR Trailing Stop Indicator [Chart]I rely on this script for both my live trading and my backtesting process. I couldn’t live without it. It’s extremely simple – all it does is calculate your trailing stop price.
How It Works
The first number in blue is the current ATR (pips). The second number in green is your trailing stop loss price for Long trades, and the third number in red is your trailing stop loss price for Short trades.
For short trades, the stop loss price is calculated by adding the current ATR value to the highest-high of the given lookback period.
For long trades, the stop loss price is calculated by subtracting the current ATR value from the lowest-low of the given lookback period.
Settings
ATR Length:
ATR period (how many candles to include in the calculation).
Use Structure?
If set to true, the script will use swing lows and highs in its calculation. If set to false, the script will ignore swing lows and highs and give you the distance of the ATR from the current candle close instead.
How Far To Look Back For High/Lows:
Candle lookback period for swing high/lows.
ATR X ?:
This controls your ATR multiplier. For example, if you want to use a 2x ATR stop, set this to 2.
Tool Companion:
Here is the tool companion script for this indicator:
Source Code:
Go to zenandtheartoftrading.com for the source code – it’s free!
ATR Trailing Stop Loss IndicatorI rely on this script for both my live trading and my backtesting process. I couldn’t live without it. It’s extremely simple – all it does is calculate your trailing stop price.
How It Works
The first number in blue is the current ATR (pips). The second number in green is your trailing stop loss price for Long trades, and the third number in red is your trailing stop loss price for Short trades.
For short trades, the stop loss price is calculated by adding the current ATR value to the highest-high of the given lookback period.
For long trades, the stop loss price is calculated by subtracting the current ATR value from the lowest-low of the given lookback period.
Settings
ATR Length:
ATR period (how many candles to include in the calculation).
Use Structure?
If set to true, the script will use swing lows and highs in its calculation. If set to false, the script will ignore swing lows and highs and give you the distance of the ATR from the current candle close instead.
How Far To Look Back For High/Lows:
Candle lookback period for swing high/lows.
ATR X ?:
This controls your ATR multiplier. For example, if you want to use a 2x ATR stop, set this to 2.
Chart Companion:
Here is the chart companion script for this indicator:
Source Code:
Go to zenandtheartoftrading.com for the source code – it’s free!
ATR + Trailing StopsSimple visualisation of Average True Range in Pinescript V4.
The script has two modes: Running and Trailing.
In Running mode, it continuously displays the ATR above and below the price. Specifically, it displays the High and Low price plus and minus the ATR times a user-supplied multiplier. This can be helpful for visualising volatility.
In Trailing mode, it displays the same ATR line, except the line trails until price crosses it. When price crosses it, it flips from long to short or vice-versa.
You could use trailing ATR as a stop loss. Adjust the multiplier and lookback period for your asset and preference.
ATR ChannelsATR Channels help you to identify where to place your stop-loss or trailing stop-loss based on price volatility, according to the Average True Range (ATR).
Adaptive Autonomous Recursive Trailing StopIntroduction
Trailing stop are important indicators in technical analysis, today i propose a new trailing stop A2RTS based on my last published indicator A2RMA (1), this last indicator directly used an error measurement thus providing a way to create enveloppes, which provide a direct way to create trailing stops based on highest/lowest rules.
The Indicator
If you need a more detailed explanation of this indicator i encourage you to check the A2RMA indicator post i made, parameters does not differ from the supertrend, thus having a length parameter and a factor parameter who is here described as gamma , gamma control how far away are the bands from each others thus spotting longer terms trends when gamma is higher.
On BTCUSD
Something worth mentioning is that the indicator sometimes behave like my MTA trailing stop indicator (2) who is closer to the price when a trend persist thus providing early exit points, however A2RTS behave a bit better.
Price can sometimes break the trailing stop, this can be interpreted as a support/resistance or just as an exit point, the support resistance methodology on trailing stop is not the most recommended.
Sometimes it is recommended to have an higher length rather than an high gamma like in this case for INTEL CORP, below gamma = 3 and length = 20
The microprocessor market like to use higher length's instead of higher gamma's , A2RMA is a non-linear filter, this would explain such behaviour.
Conclusion
Trailing stops might not suffer as much from whipsaw trades than MA crossovers but they still remain inefficient when market is not trending, results of the proposed indicator on major forex pairs are more than disappointing, but i hope this will serve as basis for other trailing stops that might act a little bit better. I conclude this post by thanking everyone who support my work and i encourage you to modify this indicator and share it with the community.
Thanks for reading !
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