TRENDSTOP-SMA
this is another version of my trendstop(stoploss) script
i made this stop loss indicator running according to simple moving average
it follows the sma line from a % distance determined by user
when sma is crossing up trendstop line means go long (buy)
when sma is crossing down trendstop line means go short (sell)
u can set alert on this indicator
(after u apply it on your chart, right click on indicator,
sma crossing down trend stop for sell, sma crossing up trendstop for buy alert)
i use settings 5 for sma and 1 for stoploss % and seems accurate for 1h and 4h for btc and others
u can adjust it for stocks and for forex as u wish
recommend to use with heiken ashi bars
i made this stop loss indicator running according to simple moving average
it follows the sma line from a % distance determined by user
when sma is crossing up trendstop line means go long (buy)
when sma is crossing down trendstop line means go short (sell)
u can set alert on this indicator
(after u apply it on your chart, right click on indicator,
sma crossing down trend stop for sell, sma crossing up trendstop for buy alert)
i use settings 5 for sma and 1 for stoploss % and seems accurate for 1h and 4h for btc and others
u can adjust it for stocks and for forex as u wish
recommend to use with heiken ashi bars