Simple Trailing stop — Indicator by Damasta

TradingView

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movingaverage trailing stop trailingstop script alert

Since my exchange doesn't support trailing stop I made a script for it.

It is fully configurable, which means you can set the bars for calculation, the offset and sources for trigger and calculation.

The original purpose for me was to send a command to my bot. If you like it please comment and check out my other scripts.

Nov 14

Release Notes: somehow the alertcondition didn't make it into initial release. Thus added now.

You can have both integrated Trailing Stop and Trailing Take profit, and create alerts from it.

Cyatophilum Altcoins Trader [ALERTSETUP]

Hey Sir, can you explain what "Source Trailing Stop calculation" and "Source Trigger" are? i dont understand what these option do.

Any way to make this into a two-way stop? I.e. stops for closing longs.

cryptohan

Nevermind! It was as simple as changing (1-(offset/100) to (1+(offset/100).

Great work, very much appreciated!

wow exactly what i was looking for. Works great with trading view. THANK YOU!

this is very useful. Not only for the bot but for backtesting.
However, by adding this code to my simple script I get an error message "Add to Chart operation failed, reason: The script must have one study() or strategy() function call"
I'm new to pinescript, trying to learn step by step so I'd much appreciate some help :)
I believe there should be an exit() command in order to backtest with the trailing stop, right?
Here is my code, a simple EMA crossover.. I

short_ema = ema(close, 9)
long_ema = ema(close, 30)

plot(short_ema, color =red)
plot(short_ema, color =green)

entry() => crossover( short_ema, long_ema)
exit() => crossunder( short_ema, long_ema)

strategy.entry(id = "long_ma", long = true, when = entry())
strategy.close(id = "long_ma", when = exit())

what do you mean "send a command" to your bot?

How would this fix your exchange not supporting stop loss?

TheCryptoLabs

@TheCryptoLabs, you can use autoview to send alerts to whatever exchange you're using to buy and sell assets with certain triggers. This way you can completely automate an algorithmic strategy through tradingview

Kingii91

@Kingii91, not the only way at all. You can use email alerts to send order to many automated trading bot systems like gunbot haasbot and others

Kingii91

First, thank you @Damasta for the alert script.

@Kingii91, @theheirophant, there is much better version of AutoView - it's called ProfitView. Check it out. It has built in syntax testing, connection error handling and all sort of other cool stuff.