I’m working on a new strategy that uses Trailing for both TP and SL.
I always wanted to have a strategy that does proper trailing, but instead of using a fixed percentage like 3Commas does, that it relies on ATR to move the trailing limits.
ATR stands for average true range and it’s a numeric representation of volatility.
The script provides separated multipliers so that you can adjust TTP and TSL independently.
This approach is widely used by profesional trades to place their stop losses and TP levels.
In this strategy they are not just placed statically but they “follow the price”. You can see that in the chart below.
It introduces the idea of a “waiting zone” to prevent the TTP to trigger when the price is inside that zone. This helps preventing the TTP to cause any damage.
It looks pretty promising so I wanted to share access with VIP members in case you are interested to try it on TradingView while it’s still in development.
If you are a VIP/Gold member you should be able to find it in your invite-only section on TradingView (as long as you ever filled the pine script form before)
I’ve been working hard trying to get this to work as accurate as possible but if you feel like giving it a try and have some feedback please let me know.
It currently supports:
- RSI strategy on any TF
- 3 trend confirmation EMAs
- Alerts to DCA bots
- TV Strategy: backtesting and stats
I’m planning to make a video asap.
https://www.tradingview.com/script/OQXsrYGb-TTP-Trailing-SL-TP-RSI-EMA-strat/
