Trailing Drawdown Line Futures PropFirmsSee the exact price where your trailing drawdown gets hit — before it happens.
Built for futures prop-firm traders (Apex, Topstep, MyFundedFutures, Tradeify, BluSky and similar). Enter your firm's trailing DD size, your buffer at entry and your contract count, then click your entry point on the chart. The indicator draws your liquidation line — the price where the account would breach the trailing max drawdown — and ratchets it the way the firm actually does: it trails the implied equity peak at the FULL drawdown distance, and if you enter below your prior peak the line starts closer but does not move until price beats that peak.
Features
• Works on any futures symbol automatically — the contract's point value is read from the symbol (ES, NQ, MNQ, MES, GC, CL, ZB, …). Non-USD contracts (e.g. FDAX) display in their quote currency.
• Three trailing models: Intraday (trails every new high/low — real-time-trailing firms), Bar close, and End of day (EOD-trailing firms; needs an intraday or 1D chart).
• Live buffer readout — dollars and points left before the line — in a dark info table and an on-chart label.
• Breach is latched: once the line is touched the status stays BREACHED, because a trailing max-DD hit is terminal, not a temporary state. On historical bars the intraday model errs toward flagging (the path inside a bar is unknowable) — confirm on a lower timeframe.
• Lock support: enter the price where your firm freezes the DD (breakeven lock), or let the script derive it from your start balance + equity at entry. Status flips to LOCKED.
• Exit time: set it when you close the trade — the line and buffer freeze, because real DD levels stop moving while you're flat.
• Two alert conditions: buffer below warning level, and line touched.
How to use: add to chart → click your entry point → set contracts, firm DD size and buffer at entry (from your firm dashboard) → pick the trailing model that matches your firm → optionally create the two alerts. Re-anchor for every new trade.
Honest limitations: models ONE fixed-size position on THIS symbol. Scaling in/out or holding other instruments changes your real equity path and is not modeled. Anchor on a low timeframe (1–5 min) for precision. Educational risk-visualization tool — always confirm your firm's exact drawdown rule on their own site. مؤشر
Efficiency Trailing Stop LossEfficiency TSL is an adaptive trailing stop framework designed to dynamically follow market movement while continuously adjusting stop behavior based on changing price efficiency and directional conditions.
Unlike traditional trailing stop systems that rely on static ATR values or fixed structure levels, Flip TSL evaluates how effectively price is moving and uses that information to expand, tighten, or aggressively reduce risk as market behavior evolves.
The objective is not simply to trail price, but to adapt risk management according to changing market conditions beneath the surface.
By combining market efficiency analysis, directional state detection, adaptive stop expansion logic, and automatic long/short transition behavior into a unified framework, the indicator is designed to provide additional context for trade management and evolving market structure.
Features
• Single adaptive trailing stop line
• Automatic Long ↔ Short transition system
• Dynamic stop expansion and tightening engine
• Market efficiency analysis
• Improvement / deterioration detection
• Automatic direction logic modes:
• Stop Cross
• SMA Direction
• Candle Direction
• Structure Step stop logic
• Swing High / Low fallback logic
• Multi-timeframe calculations
• Adjustable timeframe selection
• Wait-until-close confirmation option
• Dynamic ATR stop sizing
• Real-time dashboard
• Fully customizable colors and display settings
Dashboard Includes
• Current direction mode
• Auto direction method
• Efficiency score
• Market state
• Stop mode
• Active ATR multiplier
• Current trailing stop value
Alerts Included
• Flipped Long
• Flipped Short
• Efficiency crossed below threshold
• Long Mode Activated
• Short Mode Activated
Potential Use Cases
• Dynamically manage open positions
• Adapt stop placement to changing conditions
• Reduce risk during deteriorating environments
• Hold stronger trends longer
• Filter lower-quality market conditions
• Add confluence to existing systems
• Study changing market behavior
Interpretation
Expanded
Market efficiency is elevated and conditions remain supportive of directional continuation.
The trailing stop expands and provides additional room for price movement.
Tightening
Market conditions begin slowing or losing efficiency.
The trailing stop contracts and moves closer to price action.
Cut / Take Profit
Market efficiency falls beneath the defined threshold.
The stop may aggressively tighten or move toward current price to reduce exposure and protect gains.
Direction Modes
Stop Cross
Direction flips when price crosses the active trailing stop.
SMA Direction
Direction follows price relative to moving average positioning.
Candle Direction
Direction adapts based on bullish and bearish candle behavior.
About TrendGenY Indicators
TrendGenY indicators are built from market experience, creative concepts, and a constant pursuit of unique perspectives. Rather than following conventional ideas, the focus is on uncovering alternative insights and viewing market behavior through different angles to reveal information that traditional tools may overlook and help traders build a more meaningful edge in the market. مؤشر
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VWAP Price ChannelVWAP Price Channel cuts the crust off of a traditional price channel (Donchian Channel) by anchoring VWAPs at the highs and lows. By doing this, the flat levels, characteristic of traditional Donchian Channels, are no more!
Author's Note: This indicator is formed with no inherent use, and serves solely as a thought experiment.
> Concept
I would be hesitant to call this a "predictive" indicator, however the behavior of it would suggest it could be considered at least partially predictive
Essentially, the Anchored VWAPs creates something from otherwise nothing.
While the DC upper or lower values are staying flat, the VWAPs improvise based on price and volume to project a level that may be a better representation of where future highs or lows may settle.
Visually, this looks like we have cut off the corners of the Donchian Channel.
Note: Notice how we are calculating values before the corners are realized.
> Implementation
While this is only a concept indicator, The specific application I've gone with for this, is a sort of supertrend-ish display (A Trend Flipping Trailing Stop Loss).
The script uses basic logic to create a trend direction, and then displays the Anchored VWAPs as a form of trailing stop loss.
While "In Trend", the script fills in the area between the VWAP and Price in the direction of trend.
When new highs or lows are made while in trend, the opposite VWAP will start to generate at the new highs or lows. These happen on every new high or low, so they are not indicating the trend shift, but could be interpreted as breakout levels for the current trend direction in order for continuation.
Note: All values are drawn live, but when using higher timeframes, there is a natural calculation discrepancy when using live data vs. historical.
> Technicals
In this script, I'm simply detecting new highs or lows from the DC and using those as the anchor frequency on the built-in VWAP function.
So each time a new high or low is made based on DC, the VWAP function re-anchors to the high or low of the candle.
Past that, I have implemented some logic in order to account for a common occurrence I faced during development.
Frequently, the price would outpace the anchored VWAP, so we would end up with the VWAP being further from price than the actual DC upper or lower.
Due to this, what I have ended up with was a third value which, rather than switching between raw VWAP values and DC values, it adjusts the value based on the change in the VWAP value.
This can be simply thought of as a "Start + Change" type of setup.
By doing this, I can use the change values from the actual anchored VWAP, and under normal conditions, this will also be the true VWAP value.
However, situationally, I am able to update the start value which we're applying the VWAP change to.
In other words, when these situations happen, the VWAP change is added to the new (closer to price) DC value.
The specific trend logic being used is nothing fancy at all, we are simply checking if a new high or low is created and setting the trend in that direction.
This is in line with some traditional DC Strategies.
To those who made it here,
Just remember:
The chart may be ugly, but it's the fastest analysis of the data you can get.
Nicer displays often come at the hidden cost of latency.
You have to shoot your shot to make it.
Choose 2: Fast, Clean, Useful
Enjoy! مؤشر
Strategy Builder With IndicatorsThis strategy script is designed for traders who enjoy building systems using multiple indicators.
Please note: This script does not include any built-in indicators. Instead, it works by referencing the plot outputs of the indicators you’ve already added to your chart.
For example, if you add a MACD and an ATR indicator to your chart, you can assign their plot values as inputs in the settings panel of this strategy.
• MACD as a trigger
• ATR as a filter
How Filters Work
Filters check whether certain conditions are met before a trade can be opened. For instance, if you set a filter like ATR > 30, then no trade will be executed unless that condition is true — even if the trigger fires.
All filters are linked, meaning every active filter must be satisfied for a trade to occur.
How Triggers Work
Triggers are what actually fire a trade signal — such as a moving average crossover or RSI breaking above a specific level. Unlike filters, triggers are independent. Only one active trigger needs to be true for the trade to execute.
Thanks to its modular structure, this strategy can be used with any indicator of your choice.
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Risk Management Features
In the settings, you’ll find flexible options for:
• Stop Loss (SL)
• Trailing Stop Loss (TSL)
• Multi Take-Profit (TP)
These features enhance trade safety and let you tailor your risk management.
SL types available:
• Tick-based SL
• Percent-based SL
• ATR-based SL
Once you select your preferred SL type, you can fine-tune its distance using the offset field.
Trailing SL allows your stop to follow price as it moves in your favor — helping to lock in profits.
Multi-TP lets you take profits at two different levels, helping you secure gains while leaving room for extended moves.
Breakeven option is also available to automatically move your SL to entry after reaching a profit threshold.
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How to Build a Solid Strategy
Let’s break down a good setup into three key components:
1. Trend Filter
Avoid trading against the trend — that’s like swimming against the current.
Use a filter like:
• Supertrend
• Momentum indicators
• Candlestick bias, etc.
Example: In this case, I used Supertrend and filtered for trades only if the price is above the uptrend line.
2. Trigger Condition
Once we confirm the trend is on our side, we need a trigger to execute at the right moment. This can be:
• RSI cross
• Candlestick patterns
• Trendline breaks
• Moving average crossovers, etc.
Example: I used RSI crossing above 50 as the entry trigger.
3. Risk Management
Even in the right trend at the right time — anything can happen. That’s why you should always define Stop Loss and Take Profit levels.
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And there you have it! Your strategy is ready to backtest, refine, and deploy with alerts for live trading.
Questions or suggestions? Feel free to reach out استراتيجية
Trailing Stop Loss [TradingFinder] 4 Machine Learning Methods🔵 Introduction
The trailing stop indicator dynamically adjusts stop-loss (SL) levels to lock in profits as price moves favorably. It uses pivot levels and ATR to set optimal SL points, balancing risk and reward.
Trade confirmation filters, a key feature, ensure entries align with market conditions, reducing false signals. In 2023 a study showed filtered entries improve win rates by 15% in forex. This enhances trade precision.
SL settings, ranging from very tight to very wide, adapt to volatility via ATR calculations. These settings anchor SL to previous pivot levels, ensuring alignment with market structure. This caters to diverse trading styles, from scalping to swing trading.
The indicator colors the profit zone between the entry point (EP) and SL, using light green for buy trades and light red for sell trades. This visual cue highlights profit potential. It’s ideal for traders seeking dynamic risk management.
A table displays real-time trade details, including EP, SL, and profit/loss (PNL). Backtests show trailing stops cut losses by 20% in trending markets. This transparency aids decision-making.
🔵 How to Use
🟣 SL Levels
The trailing stop indicator sets SL based on pivot levels and ATR, offering four options: very tight, tight, wide, or very wide. Very tight SLs suit scalpers, while wide SLs fit swing traders. Select the base level to match your strategy.
If price hits the SL, the trade closes, and the indicator evaluates the next trade using the selected filter. This ensures disciplined trade management. The cycle restarts with a new confirmed entry.
Very tight SLs, set near recent pivots, trigger exits early to minimize risk but limit profits in volatile markets. Wide SLs, shown as farther lines, allow more price movement but increase exposure to losses. Adjust based on ATR and conditions, noting SL breaches open new positions.
🟣 Visualization
The indicator’s visual cues, like colored profit zones, simplify monitoring, with light green showing the profit area from EP to trailed SL. Dashed lines mark entry points, while solid lines track the trailed SL, triggering new positions when breached.
When price moves into profit, the area between EP and SL is colored—light green for longs, light red for shorts. This highlights the profit zone visually. The SL trails price, locking in gains as the trade progresses.
🟣 Filters
Upon trade entry, the indicator requires confirmation via filters like SMA 2x or ADX to validate momentum. Filters reduce false entries, though no guarantee exists for improved outcomes. Monitor price action post-entry for trade validity.
Filters like Momentum or ADX assess trend strength before entry. For example, ADX above 25 confirms strong trends. Choose “none” for unfiltered entries.
🟣 Bullish Alert
For a bullish trade, the indicator opens a long position with a green SL Line (after optional filters), trailing the SL below price. Set alerts to On in the settings for notifications, or Off to monitor manually.
🟣 Bearish Alert
In a bearish trade, the indicator opens a short position with a red SL Line post-confirmation, trailing the SL above price. With alerts On in the settings, it notifies the potential reversal.
🟣 Panel
A table displays all trades’ details, including Win Rates, PNL, and trade status. This real-time data aids in tracking performance. Check the table to assess trade outcomes instantly.
Review the table regularly to evaluate trade performance and adjust settings. Consistent monitoring ensures alignment with market dynamics. This maximizes the indicator’s effectiveness.
🔵 Settings
Length (Default: 10) : Sets the pivot period for calculating SL levels, balancing sensitivity and reliability.
Base Level : Options (“Very tight,” “Tight,” “Wide,” “Very wide”) adjust SL distance via ATR.
Show EP Checkbox : Toggles visibility of the entry point on the chart.
Show PNL : Displays profit/loss data for active and closed trades.
Filter : Options (“none,” “SMA 2x,” “Momentum,” “ADX”) validate trade entries.
🔵 Conclusion
The trailing stop indicator, a dynamic risk management tool, adjusts SLs using pivot levels and ATR. Its confirmation filters reduce false entries, boosting precision. Backtests show 20% loss reduction in trending markets.
Customizable SL settings and visual profit zones enhance usability across trading styles. The real-time table provides clear trade insights, streamlining analysis. It’s ideal for forex, stocks, or crypto.
While filters like ADX improve entry accuracy, no setup guarantees success in all conditions. Contextual analysis, like trend strength, is key. This indicator empowers disciplined, data-driven trading.
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Trailing Stop ProTrailing Stop Pro is a sophisticated TradingView indicator designed to enhance your trading strategy by dynamically managing trailing stops based on market volatility. This tool leverages the Average True Range (ATR) to adjust stop levels, providing traders with a robust mechanism to protect profits and minimize losses.
Key Features:
Dynamic Trailing Stops: Automatically adjusts stop levels using ATR, allowing for responsive and adaptive risk management.
Customizable Inputs: Tailor the indicator to your trading style with adjustable parameters such as ATR Length, ATR Multiplier, and Source Vector.
Visual Clarity: Distinct color settings for long and short stops, with adjustable line thickness and transparency, ensuring clear visualization on your charts.
Professional Grade: The "Pro" designation signifies advanced features suitable for both novice and experienced traders seeking reliable and efficient stop management.
How It Works:
To set up the indicator, begin by defining the Chrono Point, which specifies the exact time you want the trailing stop mechanism to activate. This allows for precise control over when your stops begin to trail. Next, set the Credit Unit as the initial entry price for your trade, serving as the baseline from which the trailing stops will adjust.
The indicator uses ATR-based adjustments to determine stop levels. Customize the sensitivity of the trailing stop by adjusting the ATR Length (default is 14) and ATR Multiplier (default is 0.5). A longer ATR length smooths out volatility, while a higher multiplier increases the distance of the stop from the price.
Select your Source Vector from "High/Low," "Close," or "Open" prices as the basis for stop calculation. This flexibility allows you to align the indicator with your preferred trading strategy. The indicator plots trailing stops directly on the chart, with color-coded lines indicating long (teal) and short (red) positions. You can adjust the line thickness and transparency for optimal visibility.
The Mission Status feature automatically detects whether the trade is long or short and adjusts the trailing stop accordingly. If the price hits the trailing stop, the trade is considered exited, and the indicator calculates the profit or loss percentage.
Benefits:
Risk Management: Protect your trades from adverse market movements while locking in profits as prices move favorably.
Automation: Reduce manual intervention with automatic stop adjustments, allowing you to focus on strategic decision-making.
User-Friendly Interface: Intuitive settings and clear visual cues make it easy to integrate into your existing trading workflow.
Conclusion:
Trailing Stop Pro is an essential tool for traders looking to enhance their risk management strategies with precision and ease. By automating the trailing stop process and providing clear visual feedback, this indicator empowers you to navigate the markets with confidence. Whether you're a seasoned trader or just starting, Trailing Stop Pro offers the functionality and flexibility needed to optimize your trading performance.
The Trailing Stop Pro indicator is a tool designed to assist traders in managing risk and optimizing their trading strategies. However, it should not be considered as financial advice or a guarantee of profitability. Trading involves significant risk, and it is possible to lose more than your initial investment. Users are encouraged to thoroughly test the indicator in a demo environment and consider their own financial situation and risk tolerance before using it in live trading. Past performance is not indicative of future results, and users should seek advice from a qualified financial advisor if needed. مؤشر
Market Structure Trailing Stop [BigBeluga]The Market Structure Trailing Stop indicator is an advanced tool for identifying market structure shifts, liquidity sweeps, and potential trend reversals using comprehensive volume analysis. This indicator combines the analysis of market structure pivots (CHoCH - Change of Character) with a sophisticated volume-based trailing stop logic. By evaluating delta volume at key structural points, it allows traders to identify high-probability trend continuations or reversals and manage their trades more effectively.
🔵 KEY FEATURES
● Market Structure Analysis
Pivot-Based Market Structure : The indicator identifies high and lows using user-defined periods, allowing traders to spot key market structure shifts.
Change of Character (CHoCH) : The first significant break of a market structure is marked as a CHoCH, indicating a potential trend reversal.
Break of Structure (BoS) : The indicator highlights subsequent breaks of structure after CHoCH, providing traders with crucial insights into trend strength.
● Advanced Volume Analysis
Delta Volume Evaluation : The indicator calculates delta volume (difference between up and down volume) at each ChoCh or BoS market structure point to assess the strength of the move. Identify Delta Volume from break point back to Pivot
● Trailing Stop Logic
Volume-Validated Trailing Stop : The indicator automatically plots a trailing stop if the delta volume at the UP CHoCH is positive and above the defined threshold and vice versa for Down CHoCH , allowing traders to protect their profits while riding the trend.
Trend Weakness Detection : If a subsequent BoS occurs with negative delta volume or lower volume than the input threshold, the trailing stop disappears, indicating potential trend exhaustion or reversal.
Dynamic Stop Placement : The trailing stop is dynamically adjusted based on market structure and volume, providing traders with a more adaptive stop-loss strategy.
Up Trend Trailing Stop:
Down Trend Trailing Stop:
● Liquidity Sweep Detection
Liquidity Sweep (X) Labels : The indicator identifies liquidity sweeps—points where the price temporarily reverses to sweep liquidity above or below a key level—marked with an “X” label.
Potential Reversal Zones : These liquidity sweeps are potential reversal zones, especially when accompanied by significant delta volume changes, providing traders with early warnings of potential trend reversals.
🔵 HOW TO USE
● Identifying Market Structure Shifts
Change of Character (CHoCH) : When a CHoCH occurs, the indicator calculates the total volume from the high point to the break point. If the delta volume is positive and exceeds the input threshold, a trailing stop is plotted, signaling potential trend continuation.
Break of Structure (BoS) : If BoS is enabled, subsequent breaks of structure are highlighted. If these BoS points show weaker volume or negative delta volume, the trailing stop will disappear, indicating that the trend may be losing strength.
● Using the Trailing Stop Feature
Protecting Profits : Once a CHoCH occurs and the delta volume validates the trend, the trailing stop will be plotted below (or above) the price to protect profits while allowing the trend to run.
Trend Reversal Signals : If the trailing stop disappears due to weak volume at subsequent BoS points, it may signal that the trend is losing momentum, and traders may consider closing their positions or tightening their stops manually.
● Liquidity Sweep Interpretation
Spotting Reversal Zones : Liquidity sweeps, marked with an “X” label, indicate zones where the price has swept liquidity. These areas can serve as potential reversal zones, especially when significant delta volume is observed at these points.
Early Reversal Warnings : Traders can use these liquidity sweep labels as early warnings for potential trend reversals, particularly in conjunction with other technical analysis methods.
🔵 CUSTOMIZATION
Highs and Lows Calculation : Customize the number of bars to the left and right for identifying pivots and market structure shifts.
Volume Threshold : Define the volume threshold to filter out weaker moves and focus on significant market structure shifts.
BoS and Liquidity Sweep Labels : Toggle on or off the BoS and Liquidity Sweep labels to tailor the indicator to your trading style.
Trend Color : Enable or disable trend coloring for candles to visually highlight uptrends and downtrends on the chart.
🔵 CONCLUSION
The Market Structure Trailing Stop indicator combines advanced volume analysis with market structure detection to provide traders with a powerful tool for identifying and managing trends. By leveraging delta volume at key structure points, it helps traders validate trend strength and manage their positions with a dynamic trailing stop strategy. The addition of liquidity sweep detection further enhances its utility, offering early warnings of potential trend reversals. This indicator is ideal for traders who want to gain a deeper understanding of market structure while incorporating volume-based insights into their trading strategies. مؤشر
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Limit Order + ATR Stop-Loss [TANHEF]This indicator enables interactive placement of limit or stop-limit orders with a trailing ATR stop-loss and optional profit target (with alerts). Refer to the images below for further clarification.
Why use a trailing stop-loss?
A trailing stop-loss serves as an exit strategy when price moves against you, while also allowing you to adjust the exit point further into profit when price moves favorably. The ATR (Average True Range), a reliable measure of volatility, acts as an effective risk management tool, functioning as a trailing stop-loss.
Indicator Explanation
Initial indicator placement: Select Long Limit or Long-Stop Limit order.
Change Entry Type: Switch between Long and Short within settings.
Modify entry price: Drag circle, adjust in settings, or re-add indicator to chart.
Optional Profit Target: Use Risk/Reward ratio or specify price.
Entry anticipation: Estimated ATR stop-loss and profit target as blue circles (fluctuates with volatility changes).
Entry triggered: Actual ATR stop-loss and profit target plotted.
Exit conditions: Stop-loss or profit target hit, exit entry.
Update Frequency: Continuously, Bar Open, or Bar Open on entry then continuously.
ATR Overlap: no entry occurs if the ATR overlaps with price (stop-loss 'hit' already on entry bar)
Table: Displays input settings selected.
Show Only On Ticker: Ability to hide indicator on other tickers.
Long Limit
Long Stop-Limit
Short Limit
Short Stop-Limit
Alerts
1. 'Check' alerts to use within indicator settings (entry, trailing stop hit, profit target hit, and failed entry).
2. Select 'Create Alert'
3. Set the condition to 'Limit Order + ATR Stop-Loss''
4. Select create.
Additional details can be added to the alert message using these words in between Curly (Brace) Brackets:
{{trail}} = ATR trailing stop-loss (price)
{{target}} = Price target (price)
{{type}} = Long or Short stop-loss (word)
{{traildistance}} = Trailing Distance (%)
{{targetdistance}} = Target Distance (%)
{{starttime}} = Start time of position (day:hr:min)
{{maxdrawdown}} = max loss
{{maxprofit}} = max profit
{{update}} = stoploss update frequency
{{entrysource}} = entry as 1st bar source (yes/no)
{{triggerentry}} = Wick/Close Trigger entry input
{{triggerexit}} = Wick/Close Trigger exit input
{{triggertarget}} = Wick/Close Trigger target input
{{atrlength}} = ATR length input
{{atrmultiplier}} = ATR multiplier input
{{atrtype}} = ATR type input
{{ticker}} = Ticker of chart (word)
{{exchange}} = Exchange of chart (word)
{{description}} = Description of ticker (words)
{{close}} = Bar close (price)
{{open}} = Bar open (price)
{{high}} = Bar high (price)
{{low}} = Bar low (price)
{{hl2}} = Bar HL2 (price)
{{volume}} = Bar volume (value)
{{time}} = Current time (day:hr:min)
{{interval}} = Chart timeframe
{{newline}} = New line for text
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Trail Blaze - (Multi Function Trailing Stop Loss) - [mutantdog]Shorter version:
As the title states, this is a 'Trailing Stop' type indicator, albeit one with a whole bunch of additional functionality, making it far more versatile and customisable than a standard trailing stop.
The main set of features includes:
Three independent trailing types each with their own +/- multipliers:
- Standard % change
- ATR (aka Supertrend)
- IQR (inter-quartile range)
These can be used in isolation or summed together. A subsequent pair of direction specific multipliers are also included.
Two separate custom source inputs are available, both feature the standard options alongside a selection of 'weighted inputs' and the option to use another indicator (selected via 'AUX'):
- 'Centre' determines the value about which the trailing sum will be added to define the stop level.
- 'Trigger' determines the value used for crossing of stops, initiating trend changes and triggering alerts.
A selection of optional filters and moving averages are available for both.
Furthermore there are various useful visualisation options available, including the underlying bands that govern the stop levels. Preset alerts for trend reversals are also included.
This is not really an 'out-of-the-box' indicator. Depending upon the market and timeframe some adjustments will be necessary for it to function in a useful manner, these can be as simple or complex as the feature-set allows. Basic settings are easy to dial in however and the default state is intended as a good starting point. Alternatively with some experimentation, a plethora of unique and creative configurations are possible, making this a great tool for tweaking. Below is a more detailed overview followed by a bunch of simple example settings.
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Lengthy Version :
DESIGN & CONCEPT
Before we start breaking this down, a little background. This started off as an attempt to improve upon the ever-popular Supertrend indicator. Of course there are many excellent user created variants available utilising some interesting methods to overcome the drawbacks of the basic version. To that end, rather than copying the work of others, the direction here shifted towards a hybrid trailing stop loss with a bunch of additional user customisation options. At some point, a completely different project involving IQR got morphed into this one. After sitting through months of sideways chop (where this proved to be of limited use), at the time of publication the market has began to form some near term trend direction and it appears to be performing well in many different timeframes.
And so with that out of the way...
INPUTS
The standard Supertrend (and most other variants) includes a single source input, as default set to 'hl2' (candle mid-range). This is the centre around which the atr bands are added/subtracted to govern the stop levels. This is not however the value which is used to trigger the trend reversal, that is usually hard-coded to 'close'. For this version both source values are adjustable: labelled 'centre' and 'trigger' respectively.
Each has custom input selectors including the usual options, a selection of 'weighted inputs' and the option to use another indicator (selected from the Aux input). The 'weighted inputs' are those introduced in Weight Gain 4000, for more details please refer to that listing. These should be treated as experimental, however may prove useful in certain configurations. In this case 'hl-oc2' can be considered an estimate of the candle median and may be a good alternative to the default 'centre' setting of 'hl2', in contrast 'cc-ohlc4' can tend to favour the extremes in the trend direction so could be useful as a faster 'trigger' than the default 'close'.
To cap them off both come with a selection of moving average filters (SMA, EMA, WMA, RMA, HMA, VWMA and a simple VWEMA - note: not elastic) aswell as median and mid-range. 'Centre' can also be set to the output of 'trigger' post-filter which can be useful if working with fast/slow crosses as the basis.
DYNAMICS
This is the main section, comprised of three separate factors: 'TSL', 'ATR' and 'IQR'. The first two should be fairly obvious, 'TSL' (trailing stop loss) is simply a percentage of the 'centre' value while 'ATR' (average true range) is the standard RMA-based version as used in Supertrend, Volatility Stop etc.
The third factor is less common however: 'IQR' (inter-quartile range). In case you are unfamiliar the principle here is, for a given dataset, the greatest 25% and smallest 25% of samples are removed. The remainder is then treated as a set and the range is calculated by highest - lowest. This is a commonly used method in statistical analysis, by removing the extremes it is less prone to influence by outliers and gives a good representation of the main dispersion around the median. In practise i have found it can be a good alternative to ATR, translating better across multiple time-frames due to it representing a fraction of the total range rather than an average of per-candle range like ATR. Used in combination with the others it can also add a factor more representative of longer-term/higher-timeframe trend. By discarding outliers it also benefits from not being impacted by brief pumps/volatility, instead responding only to more sustained changes in trend, such as rallies and parabolic moves. In order to give an accurate result the IQR is calculated using a dataset of high, low and hlcc4 values for all bars within the lookback length. Once calculated this value is then halved which, strictly speaking, makes it a semi-interquartile range.
All three of these components can be used individually or summed together to create a hybrid dynamics factor. Furthermore each multiplier can be set to both positive and negative values allowing for some interesting and creative possibilities. An optional smoothing filter can be applied to the sum, this is a basic SWMA-4 which is can reduce the impact of sudden changes but does incur a noticeable lag. Finally, a basic limiter condition has been hard-coded here to prevent the sum total from ever going below zero.
Capping off this section is a pair of direction multipliers. These simply take the prior dynamics sum and allow for further multiplication applied only to one side (uptrend/lo-stop and downtrend/hi-stop). To see why this is useful consider that markets often behave differently in each direction, we've all seen prices steadily climb over several weeks and then abruptly dump in the process of a day or two, shorter time frames are no stranger to this either. A lack of downside liquidity, a panicked market, aggressive shorts. All these things contribute to significant differences in downward price action. This function allows for tighter stops in one direction compared to the other to reflect this imbalance.
VISUALISATIONS
With all of these options and possibilities, some visual aids are useful. Beneath the dynamics' section are several visual options including both sources post-filter and the actual 'bands' created by the dynamics. These are what govern the stop levels and seeing them in full can help to better understand what our various configurations actually do. We can even hide the stop levels altogether and just use the bands, making this a kind of expanded Keltner Channel. Here we can also find colour and opacity settings for everything we've discussed.
EXAMPLES
The obvious first example here is the standard %-change trailing stop loss which, from my experience, tends to be the best suited for lower time frames. Filtering should probably minimal here. In both charts here we use the default config for source inputs, the top is a standard bi-directional setup with 1.5% tsl while the bottom uses a 2.5% tsl with the histop multiplier reduced to 0 resulting in an uptrend only stoploss.
Shown here in grey is the standard Supertrend which uses 'hl2' as centre and 'close' as trigger, ATR(10) multiplied by 3. On top we have the default filtered source config with ATR(8) multiplied by 2 which gives a different yet functionally similar result, below is the same source config instead using IQR(12) multiplied by 2. Notice here the more 'stepped' response from IQR following the central rally, holding back for a while before closing in on price and ultimately initiating reversal much sooner. Unlike ATR, the length parameter for IQR is absolute and can more significantly affect its responsiveness.
Next we focus on the visualisation options, on top we have the default source config with ATR(8) multiplied by 2 and IQR(12) multiplied by 1. Here we have activated the switch to show 'bands', from this we can see the actual summed dynamics and how it influences the stop levels. Below that we have an altogether different config utilising the included filters which are now visible. In this example we have created a basic 8/21 EMA cross and set a 1% TSL, notice the brief fakeout in the middle which ordinarily might indicate a buy signal. Here the TSL functions as an additional requirement which in this case is not met and thus no buy signal is given.
Finally we have a couple of more 'experimental' examples. On top we have Lazybear's 'Variable Moving Average' in white which has been assigned via 'aux' as the centre with no additional filtering, the default config for trigger is used here and a basic TSL of 1.5% added. It's a simple example but it shows how this can be applied to other indicators. At the bottom we return to the default source config, combining a TSL of 8% with IQR(24) multiplied by -2. Note here the negative IQR with greater length which causes the stop to close in on price following significant deviations while otherwise remaining fairly wide. Combining positive and negative multiples of each factor can yield mixed results, some more useful than others depending upon suitable market conditions.
Since this has been quite lengthy, i shall leave it there. Suffice to say that there are plenty more ways to use this besides these examples. Please feel free to share any of your own ideas in the comments below. Enjoy.
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