Trailing Stop Pro

The Trailing Stop Pro indicator provides a professional-grade risk management solution by dynamically calculating trailing stop-loss levels based on market volatility. It leverages the Average True Range (ATR) to help traders protect capital and lock in profits through automated, responsive price tracking.

Usage

The Usage section describes how the script can be used to manage active trades. To initialize the tool, users must define a specific starting point in time and an entry price. The indicator then tracks price movement and adjusts the stop level based on the selected volatility parameters.

The script is particularly useful for:

• Dynamic Profit Taking: Automatically trailing a stop behind a trending price to capture maximum gains without manual intervention.
• Volatility-Based Risk Management: Using ATR to ensure stops are wide enough to withstand market noise but tight enough to preserve capital during reversals.
• Trade Performance Tracking: The built-in dashboard displays entry prices, exit prices, and the total profit/loss percentage once a stop is triggered.

Entry and Direction

The indicator determines the trade direction (Long or Short) automatically based on the relationship between the "Credit Unit" (entry price) and the market price at the "Chrono Point" (start time). If the price is above the entry, it initiates a long trailing stop; if below, it initiates a short trailing stop.

Details

The Trailing Stop Pro utilizes a high/low orbit logic derived from the ATR. Unlike static stops, this script calculates a "Low Orbit" for long positions and a "High Orbit" for short positions using the highest or lowest price sources over a lookback period.

The core logic ensures that the trailing stop is "one-way." For long positions, the stop value can only move upward; for short positions, it can only move downward. If the price pierces the calculated trail level, the mission status is set to closed, and an alert is triggered to signal the trade exit.

Settings

Trade Settings

• Chrono Point: The specific date and time when the trade execution begins and the trailing stop activates.
• Credit Unit: The initial entry price of the trade used as the baseline for stop calculations and P/L tracking.
• Source Vector: Determines which price data is used for stop calculation (High/Low, Close, or Open).

Offset Parameters

• ATR Length: The lookback period used to calculate the Average True Range, determining how many bars of volatility are factored in.
• ATR Multiplier: A coefficient applied to the ATR value to define the distance between the price and the trailing stop.

Color Settings

• Long Stop Color: Customizes the color for the trailing stop line during long positions.
• Short Stop Color: Customizes the color for the trailing stop line during short positions.
• Line Thickness: Adjusts the visual width of the stop-loss line on the chart.
• Transparency: Controls the opacity of the plotted trailing stop line.

FAQ

How do I activate the trailing stop?

You must set the "Chrono Point" to the time your trade started and the "Credit Unit" to your entry price. The indicator will then begin plotting the stop from that specific point in time.

What happens when the price hits the stop line?

When the price crosses the trailing stop level, the indicator marks the trade as closed, stops updating the line, and calculates the final profit or loss percentage in the on-chart table.

How can I access Trailing Stop Pro?

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