Trailing SL Strategy [QuantNomad] by QuantNomad

TradingView

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parabolicsar volatilitystop averagetruerange stoploss trailingstop trailingstoploss trailingtakeprofit atr atrstop eth ethusd

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.

Courses:
PineScript Programming: https://qntly.com/pinepro
TradingView Essential: https://qntly.com/tve

Access to Pro Indic.: https://qntly.com/proind

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Comments

Sir that's not working no so singnal on chart

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.

The script works pretty good. Can also please add alerts?

SIO34trade

@SIO34trade, here are alerts for this strategy:

Hey looks pretty good! Thanks for share! Any recommend about TF, 1h and above?

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.

QuantNomad

@QuantNomad, thanks for respond. Have a good day!

ok so maybe a dumb question, but at what point are the buy and sell signals? I see sideways small triangles and the larger up/down triangles, which one are you using for the signal? A lot of the smaller triangles don't seem to be moneymakers and the buy/sell point doesn't show up until the candle has formed and the chart has moved a few bars. Is this where you just set an arbitrary take profit point and use the green or red line as the stop?

Hi @QuantNomad is it possible for you to add Take Profit and Trailing SL for backtesting in the strategy script please.

Thank you in advance.

If one wants to minimize draw down. Folks might think of it this way..instead of buy/sell criteria. Buy, exit long criteria. Then its either re enter long or short criteria. Same at the bottom Short, cover criteria, then either long and or reshort/sell criteria. The criteria for a long profit take exit are actually different than of a short. The criteria for a long are different than a short cover. One needs additional criteria to move past the exit. Usually needs two "indicators" or criteria, or more to re-commit.