alexgrover

MTA-Traling Stop

Introduction

Based on my previous indicator , this indicator plot a trailing stop using classic conditions.

Using The Indicator

Like any trailing stop when price is higher than the trailing stop this imply a buy signals, when price is lower than the trailing stop this imply a sell signal. It is possible to use decimals instead of integers for length as shown here :


length = 14.7

The indicator tend to react faster to price movements when a trend has been really long, this methodology is similar to the one used by the parabolic sar .

Downsides

Lack of robustness with the length parameter, the behaviour of the trailing stop can be hard to predict. There is a real need for control.

Conclusion

The indicator can be adaptive, even if it already is in a certain way, by changing the alpha variable at the start considering that 0 < alpha < 1. Its not recommended to use it right now except for testing/coding purpose.

It is clear that i'm not enthusiast when it come to this script, there is a real lack of accuracy, i still hope it can be of use.
Информация о релизе: Updated to version 3
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Thank you for sharing.
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alexgrover tiamo3733
@tiamo3733, You are welcome.
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That a nice trailing stop script, thanks for your creations =D
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@ICEKI, Thanks for your support as always :)
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