Script Addon - Stepped TP with trailing TP
This is a proof of concept for a Trading View Script Addon for stepped and trailing Take Profit levels. A great risk management tool.
It will give you 3 TakeProfit levels and one StopLoss that will rise as TP targets are hit. You can set the TP levels as % of the price as is common for many trading tools. The additional trailing for the third TP level is an extra that will give your strategy a little advantage when there are big moves in the price action.
This is not giving you better entries, just moderating your exits.
With this addon you can make more out of your entries, while not having to get stuck in it with your full position.
This works best in sideways markets, but due to the trailing addon it can profit from bigger moves as well.
Let me know if you want this added to your strategy or indicator.
Cheers,
Robert
It will give you 3 TakeProfit levels and one StopLoss that will rise as TP targets are hit. You can set the TP levels as % of the price as is common for many trading tools. The additional trailing for the third TP level is an extra that will give your strategy a little advantage when there are big moves in the price action.
This is not giving you better entries, just moderating your exits.
With this addon you can make more out of your entries, while not having to get stuck in it with your full position.
This works best in sideways markets, but due to the trailing addon it can profit from bigger moves as well.
Let me know if you want this added to your strategy or indicator.
Cheers,
Robert
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