Chaloke Simple Trailing Stop
Chaloke Simple Trailing Stop is an Amibroker AFL designed to incorporate a straightforward trailing stop mechanism into a trading strategy. Traders who prefer a basic approach to managing their trades use this AFL to minimize risk and secure profits. Amibroker Data Feeder provides real-time market data, allowing traders to implement the Chaloke Simple Trailing Stop AFL effectively while staying informed about price movements.
_SECTION_BEGIN("Chaloke Simple Trailing Stop");
///// Chaloke Simple Trailing Stop /////
Prd1=Param("ATR Period 1-20",4,1,20,1);//{Default = 4 Because most traders use 5}
Prd2=Param("LookBack Period 1-20",11,1,20,1);//{Default = 11 Because most traders use 10}
//{Green} {Start Long position when Close>Green}
Green=HHV(LLV(L,Prd1)+ATR(Prd1),Prd2);
//{Red} {Stop loss when Close<Red}
RED=LLV(HHV(H,Prd1)-ATR(Prd1),Prd2);
Color=IIf(C>Green ,colorBrightGreen,IIf(C < RED,colorRed,colorBlue));
Plot(Green,"Green",colorBrightGreen,styleLine);
Plot(RED,"Red",colorRed,styleLine);
Plot(C,"Chaloke Simple Trailing Stop System",Color,64);
Plot(LLV(HHV(H,5)-ATR(5),6),"",colorBlack);
Plot(LLV(HHV(H,5)-ATR(5),5),"",colorBlack);
Plot(LLV(HHV(H,5)-ATR(5),4),"",colorBlack);
Plot(LLV(HHV(H,5)-ATR(5),3),"",colorBlack);
_SECTION_END();