OPEN-SOURCE SCRIPT
Updated Trailing Stop Loss
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 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.