My exit strategy to reduce risk via tracking price and ATR. Sets new STOP price based on how many ATR is current price above from the entry price.
I only check 5 and 20 EMAs for entry strategy. I intentionally used a simple entry strategy to further test the impact of this exit strategy.
First sets STOP at 1.5 ATR below the entry price. If there is a 2 ATR increase, pulls STOP to the entry point to eliminate the possibility of loss. If there is a 3 ATR increase, takes a 50% profit and moves STOP to 1 ATR above the entry price. If there is a 4 ATR increase, moves STOP to 2 ATR above the entry price. If there is a 5 ATR increase, moves STOP to 3 ATR above the entry price. . . .
This is my first strategy attempt so I am open to any recommendations. I am planning to update this strategy overtime when I get better at pinescript and trading in general
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publications is governed by House rules. Bir grafikte kullanmak için favorilere ekleyebilirsiniz.
Bu komut dosyasını bir grafikte kullanmak ister misiniz?
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.