This script demonstrates how to do trailing take profit. With this approach instead of setting a limit order, when you hit the target you just follow the price upwards (for long positions) and you sell when the price drops by a small percentage. This approach will increase the profits (slightly) in every strategy! Be aware that the simulated data may produce unrealistic results.
Catatan Pelepasan:
- Add min and max input val
- Simplify the strategy order commands
- Simplify long Take profit price plot command
Catatan Pelepasan:
- Use close source to define the profit price
- Set offset to the plot of TP price
Catatan Pelepasan:
- Check if time is within backtest period to prevent unecesary calculation and print inside the area of interest
- Replace deprecated transp argument with color.new
Catatan Pelepasan:
- Use strategy.percent_of_equity
- Draw lines with width 1
Catatan Pelepasan:
- Update pinescript to V5
- Take profit step to 0.05 deviation to 0.01
- Transparency deprecation fix
Catatan Pelepasan:
- Let's face it a Green-Red color model is more intuitive!
Catatan Pelepasan:
- Happy New Year!
- Many code refactorings and optimizations to better use this script as a template and plug your own strategy at ease
Catatan Pelepasan:
- (minor) refactoring
Catatan Pelepasan:
- Use time_filters library
Catatan Pelepasan:
- Minor revision update
Catatan Pelepasan:
- Replace deprecated "when=" with if statements in strategy calls
Catatan Pelepasan:
- Change fastMA default color to yellow
Catatan Pelepasan:
- Increase max labels to 150
- Increase max lines to 150
- Minor refactoring
Catatan Pelepasan:
- Update time_filters library
Catatan Pelepasan:
- Some minor label/color changes