Bjorgum AutoTrail

The Bjorgum AutoTrail indicator provides an interactive one-time trailing stop management tool designed to protect profits and manage positional risk for active trades. It allows users to visually set a starting point for a trailing stop that automatically adjusts based on price action or volatility.

Usage

The Usage section describes how the script can be used. When the script is added to a chart, it activates an interactive mode where the user must click a specific point to define the starting time and price of the trail. For long positions, the user typically selects a point below current price action (such as a swing low), while for short positions, the user selects a point above price action (such as a swing high).

The script offers four distinct trailing methods:

• Price Based: Uses the initial distance between the selected crosshair and the current price action to set a fixed offset.
• Percent Based: Sets a hard stop at the selected price, which then trails the close price based on a user-defined percentage once the distance is exceeded.
• ATR Based: Projects a stop distance based on the Average True Range (ATR), adjusting the trail dynamically as market volatility changes.
• PSAR Based: Utilizes a modified Parabolic SAR calculation to provide a tighter, accelerating stop that follows the trend closely.

Details

The Bjorgum AutoTrail is built for "one-time" trade management. Once the trailing stop is triggered (price crosses the stop line), the script stops plotting, and any configured alerts are fired. Alerts are designed to trigger only once per instance to prevent duplicate orders in automated setups.

A significant technical detail involves the PSAR implementation. The script uses a modified version of the standard Parabolic SAR equation to ensure the SAR value remains on the "trigger candle" before it flips. This allows the trailing stop to maintain its value at the moment of exit rather than immediately disappearing or reversing, which is critical for accurate trade execution.

Settings

• Bar Time: The exact time coordinate used to start the trail (interactively selected).
• Price: The exact price coordinate used as the initial anchor for the trail (interactively selected).
• Trail Type: Selection between ATR, Percent, Price, or Sar methods.
• Stop Source: Determines which price point (High/Low, Close, or Open) is used to calculate the trail offset.
• ATR Length: The period used for the ATR volatility calculation.
• ATR Multiplier: Adjusts the distance of the ATR trail; higher values provide more "breathing room."
• Percent Trail: The percentage offset used when the Percent trail type is selected.
• Lookback: The number of bars the script looks back to find significant swing points for trailing.
• Start / inc / max: Standard Parabolic SAR parameters controlling the starting acceleration factor, the increment per new high/low, and the maximum acceleration.
• Quantity / Market / Broker: Inputs used to populate dynamic alert strings for webhook integration with external execution platforms.

FAQ

How do I restart the trail after a stop is hit?

Because the script is designed for one-time risk management, you must re-add the indicator to the chart or reset the interactive inputs to establish a new trailing stop for a new position.

Why doesn't the trail move backward?

The trailing stop is designed to only move in the direction of the trade (up for longs, down for shorts) to lock in gains. It will never move away from price action once established.

How can I access Bjorgum AutoTrail?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.