OPEN-SOURCE SCRIPT
Updated Progressive Profit Taking with Trailing Stop
This is version 2 of 
Special features:
To incorporate into your algo, turn the plotshape functions into alertcondition.
Special features:
- Added partial profit taking as price rises. Profit taking is triggered by price crossing an EMA.
- After profit taking, price has to rise by a user-specified percent before taking profits again.
- Also includes condition for fully closing position after meeting specified profit target.
To incorporate into your algo, turn the plotshape functions into alertcondition.
Release Notes
Fixed line 39Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.