Trailing Profit at extremes
under review
Денис Романцов
I suggest making another type of Take Profit. I have experience in developing trading robots, and when testing them, this Take Profit showed me the best results.
A position is closed using the William Fractal indicator, which has two variables: period and timeframe. Let's say a long position was opened. After the low appears on the indicator, the stop loss is placed just below the low of the candle at which the indicator signal appeared. After the next higher low appears on the indicator, the stop loss moves below this candle. Thus, the deal can be trailed as long as possible, according to the trend. You can enter another variable: the distance in% from the candle's minimum to the stop loss.
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Dimmac
By the way, if you're trawling through fractals, I have some clarifications.
I don't know how fractals are formed using the William Fractal indicator, but everything is easier without it.
The minimum is determined by 5 candles, where the lows -5 and -4 are above the minimum of -3, and the lows of -2 and -1 are also above the minimum of -3.
Similarly, highs.
When a long position is reached, when a new low is higher than the previous one, the stop does not move there until the previous high is broken.
The fact is that kickbacks often come in zigzags, and after one minimum is formed, a new one may appear even lower.
Of course, this can be solved by keeping a foot off the minimum, but here you have to guess.
And now everyone trawls like this, only after the maximum has been updated.
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Dimmac
For example, I don't use trailing right now because I think it's useless. If trailing is normal, many will start using it.
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Dimmac
I also think that normal trailing is not enough.
I've been making such an offer in the general chat for a long time.
As a percentage off the price, this is generally nonsense, in my opinion.
Unless it's on the news, and even then, the volatility can be crazy.
The best trailing is, of course, when it comes to fractals. And preferably with the indent setting, as the author of the request wrote.
But you can also make it easier, using candle lows or highs, depending on the direction of the position.
Just choose a timeframe.
For example, I trade 15 minutes within a day, but I can trawl using hourly candles or 4-hour candles. It turns out the same thing, almost like fractals in 15 minutes.
But it will be easier to implement.
And I think a lot of people will use it. Especially those who already use standard trailing.
Dmitry
Dimmac: or volatility trailing) https://ru.logs.finandy.com/feature-requests/p/trailing-stop-loss-atr
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Dimmac
Dmitry: I have a bot at TSLab with such a trawl, but I've never done one myself or even used it.
I can't say anything.
For me, something tested is better. I and many people have tested candles and fractals. It works fine.
And it's easier to implement.
But I would also be happy about ATR. I think anything is better than just a discount from the price, as it is now.
Finandy Exchange
marked this post as
under review
We know this strategy; we worked on it back in 2018. It's a good idea, but few people will use it. I'll write it down in the plan, but not for the near future.