FXCodeBase.COM: Forex Chart Indicators and Development

The indicator can be used to calculate the stop levels for trading.

Formulas:
TSL[i] = Max(TSL[i-1], Close[i]-loss), if Close[i]>TSL[i-1] and Close[i-1]>TSL[i-1],
TSL[i] = Min(TSL[i-1], Close[i]+loss), if Close[i]<TSL[i-1] and Close[i-1]<TSL[i-1],
TSL[i] = Close[i]-loss, if Close[i]>TSL[i-1],
TSL[i] = Close[i]+loss, if Close[i]<TSL[i-1], where
loss = Close[i]*Percent/100.



Download:


Trailing_Stop_Level.lua based strategy.
viewtopic.php?f=31&t=66878

looks good，thanks

The indicator was revised and updated.

Is there any way to incorporate a limit/take profits line into this indicator also?

If a take profit (TP) line component can be added to this indicator, it would then be possible to add a profit loss counter to the top right corner of the chart.

It would measure the pips accumulated in the chart by the continuous SL and TP events.

This would allow the operator to fine tune TP & SL levels to maximise profits and minimise losses

thank you

How we will calculated limit/take profits line?

simplest case would be to make it equal but opposite to SL amount of pips

Trailing_Limit_Level added.

ah ok TP never gets hit. Silly me.

Could you please turn the SL indicator into a strategy that can open a trade when SL is hit (a trade in the opposite direction).

Three trade modes
> trade longs only
> trade shorts only
> trade longs & shorts (continuous trading, opposite trade entered when previous trade closed)

Your request is added to the development list under Id Number 4288