Trailing SL Strategy [QuantNomad]

I'm a big fan of simple strategies.
This one is a very simple one . So it consists only from one Trailing SL. When SL is hit, the position is reversed and SL is tracked for a new position.
You can choose one of 3 types of SL:
  • % of your price
  • ATR - it is calculated as current ATR * multiplier
  • Absolute
As you can see even this simple strategy can show pretty good results.
Open-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 a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?
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Sir that's not working no so singnal on chart
+8 Reply
QuantNomad Choudhary122
@Choudhary122, What symbol/timeframe are you using? I bet default params are too big for your stuff. Try to switch to ATR, should work on anything.
+5 Reply
The script works pretty good. Can also please add alerts?
+3 Reply
QuantNomad SIO34trade
@SIO34trade, here are alerts for this strategy:
+2 Reply
Hey looks pretty good! Thanks for share! Any recommend about TF, 1h and above?
+1 Reply
QuantNomad WallStSpecter
@WallStSpecter, Yep, it seems to work pretty good at 1-4H. I think it might work pretty good and on other time-frames with different settings.
+2 Reply
WallStSpecter QuantNomad
@QuantNomad, thanks for respond. Have a good day!
Thank you for your special help for my question on mail system... Also for sharing... Good job
+1 Reply
Dear author, please do not leave my question to you without attention. Since the indicator of this strategy is a classic risk management (stop loss - transfer to breakeven - profit control), I had an idea to use these qualities for another strategy, for example, the RSI oscillator (you have this RSI strategy for NIKE). It seems to me that combining the two indicators would be more correct. For example, the RSI will be a signal to enter a position, and the Trailing indicator will be responsible for risk control (stop-loss-transfer to breakeven-profit control). Is there anything like that in the community space? I notice that the trailing strategy in this post has a lot of false signals in the sideways movement, and the RSI has its own bad property to go uncontrollably ... Based on these observations, this idea came to me. Please answer, what do you think? And could you help me in the implementation of this idea in any way that is not difficult for you, since I am not a programmer
QuantNomad navyreal7
@navyreal7, Hi, interesting ideas. Of course you can add a filter to this strategy to make it more profitable. You can try simple stuff as RSI or ADX for example. I’ll try to take a look at it. But I’m super busy these days so I can’t promise anything.
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