Scribd
Upload
8 views2 pages

Thinkscript Trailing Stop

The document provides a Thinkscript code for implementing a trailing stop strategy in trading. It includes definitions for various variables and conditions to calculate the trailing stop based on price movements and averages. Additionally, it features code to color price bars based on their relation to moving averages.

Uploaded by

vsrkvnkumar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as TXT, PDF, TXT or read online on Scribd
8 views2 pages

Thinkscript Trailing Stop

The document provides a Thinkscript code for implementing a trailing stop strategy in trading. It includes definitions for various variables and conditions to calculate the trailing stop based on price movements and averages. Additionally, it features code to color price bars based on their relation to moving averages.

Uploaded by

vsrkvnkumar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as TXT, PDF, TXT or read online on Scribd
You are on page 1/ 2

## Trailing stop Thinkscript openly posted on Twitter

def a;
def b;
def z;
def c;
def l;
def s;
plot trail;
def lX = Lowest(low, 3);
def hX = Highest(high, 3);
def lM = Average(low, 3);
def hM = Average(high, 3);
if BarNumber() > 1 and a[1] == 1
{
b = Max(lX, b[1]);
z = if hM < b[1] and close < low[1]
then 1
else z[1];
a = if hM < b[1] and close < low[1]
then 0
else a[1];
c = if hM < b[1] and close < low[1]
then hX
else c[1];
}
else if a[1] == 0
{
c = Min(hX, c[1]);
z = if lM > c[1] and close > high[1]
then 0
else z[1];
a = if lM > c[1] and close > high[1]
then 1
else a[1];
b = if lM > c[1] and close > high[1]
then lX
else b[1];
}
else
{
b = b[1];
z = z[1];
a = a[1];
c = c[1];
}
if z == 0
{
l = if z[1] <> 0
then s[1]
else Max(b[1], l[1]);
s = 0;
}
else if z[1] <> 1
{
s = l[1];
l = 0;
}
else if z == 1
{
s = Min(c, s[1]);
l = l[1];
}
else
{
l = l[1];
s = s[1];
}
if l > 0
{
trail = l;
}
else
{
trail = s;
}
trail.SetDefaultColor(createcolor(250,150,100));
trail.SetLineWeight(1);
trail.hidebubble();

## Code to paint price bars and trailing stop

def SMA1 = Average(OHLC4, 8);


def SMA2 = Average(OHLC4, 20);
def avgSMA = (SMA1 + SMA2) / 2;
trail.assignvaluecolor(if OHLC4 > avgSMA then Color.GREEN else if OHLC4 < avgSMA
then Color.RED else color.black);
assignpricecolor(if OHLC4 > avgSMA then Color.GREEN else if OHLC4 < avgSMA then
Color.RED else color.black);

You might also like