Patreon Trailing Stop

2020년 8월 15일

The Patreon trailing stop technical indicator can detect trends, find support and resistance points, filter out noise, and help users make informed decisions easily and in a timely manner. In order to provide an accurate and useful indicator most of the efforts during its development were directed toward the minimization of false signals, thus giving to the indicator the potential to further improve your trading strategies.

The trailing stop integrates visual elements for an easier interpretation of the indicator, and integrate alerts based on the buy/sell signals given by the trailing stop. All the outputs of the indicator can be used as input for other indicators.

Settings

In order to make it easier to use, the indicator only possess three user settings:

• Length: Control the sensitivity to price variations, with a higher value aiming to detect longer-term trends.
  
• Factor: A setting that aims to filter out false signals, with a higher value filtering more false signals.
  
• Src: Source input of the indicator, by default set to median price (hl2).
  

Easily Filter Out False Signals

The Factor setting was carefully implemented to filter out false signals without introducing significant delay.



In green/orange the indicator with a Factor setting of 1, in blue/red the indicator with a Factor setting of 10, both using Length = 50, we can see that increasing factor remove false signals.



The integrated support and resistance line can also help you spot potential false signals:



When the price cross the S/R line before the occurrence of a signal we could expect the upcoming signal to be false, better signals are given when the price cross the S/R at the same time a signal is produced.

Finally, the distance between the trailing stop and the price when a new signal occurs can also help out determine if this signal is false, as a higher distance between the trailing stop and the price suggest a ranging market.

Entering Trades At A Better Position

Indicators can give false signals at the top or bottom of a movement, the Patreon trailing stop can help you enter trades at a more profitable position thanks to the integrated support and resistance line.



When we have a signal but fear it might be false, we can wait for the price to reach the S/R and enter our trade at that point, this allows us to either make a profit or minimize a loss.

Integrated Adaptive Filter

The indicator integrates a trend adaptive filter (in orange), with it you can:

• Filter out noisy variations from the price.
  
• Use it as a fast-moving average in a moving average crossover system.
  
• Use it as input for other technical indicators.
  

Simple moving average with period 200 using the filter as input.

How To Access

The indicator is one of the "Patreon trend following indicators", and can only be used by my Patreons, you can become a Patreon by using the link on my signature.

2020년 8월 23일

릴리즈 노트

Added more alerts conditions.

2020년 8월 27일

릴리즈 노트

Added MTF feature

2020년 9월 5일

릴리즈 노트

Added a new alert

2020년 10월 8일

릴리즈 노트

Added all in one alert condition

2020년 11월 30일

릴리즈 노트

New trailing take profit feature [Beta]

2020년 12월 15일

릴리즈 노트

Get alerted when price cross the take profit

2021년 5월 1일

릴리즈 노트

Users can now use 'Any alert() function call'.

2021년 12월 13일

릴리즈 노트

- Added exit signals
- Minor changes

2021년 12월 13일

릴리즈 노트

Minor Changes