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OPEN-SOURCE SCRIPT

Trailing Sell

By jason5480
Updated
This script demonstrates how to do trailing sell. With this approach, given an exit signal, instead of selling directly, you just follow the price upwards (for long positions) and you sell when the price decreases by a small percentage. The order will be executed when the next bar is closed. This approach may increase the profits (slightly) in some strategies! This script can be used as a template for your own strategy. Be aware that the simulated data may produce unrealistic results.
Release Notes
  • Use stop orders when trailing instead of market orders at the start of the next candle (suggestion by freyadog)
  • Use time_filter library
Release Notes
  • Minor code clean up
  • Change color scheme
Release Notes
  • Update time_filters library
Release Notes
  • Replace deprecated "when=" with if statements in strategy calls
Release Notes
  • Change fastMA default color to yellow
Release Notes
  • Increase max labels to 150
  • Minor refactoring
Release Notes
  • Update time_filters library
Release Notes
  • Change the settings so the order type (market, stop-limit) is independent from the trailing
  • Make exit trailing to cancel on open signal
  • Some minor label/color changes
Release Notes
  • Added option for limit orders
Release Notes
  • small refactoring
Release Notes
  • Update time_filters library version
  • Fix settings broken layout
Release Notes
  • Update time_filters library version
Release Notes
  • Use the 'chrono_utils' library for the date-time window filter
Release Notes
  • Add different alert messages per event
  • Update 'chrono_utils' library
  • Use enum
Moving Averagestemplatetrailingtrailingsell

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 publication is governed by House rules. You can favorite it to use it on a chart.

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jason5480
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Telegram: @jason5480

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