Trailing Stop level indicator
Posted: Wed Oct 09, 2013 11:31 amThe 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:
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.mq4- (1.72 KiB) Downloaded 993 times