I use supertrend for for trailing stops. One of the problem of trailing stops in long term trend trading is we get stopped too early and then trend continues. To avoid this problem, we can limit or delay our trailing.
In this modified version of supertrend, we can delay trailing by two methods:
Bars : Trail after certain bars. Input DelayBars says after how many bars it should trail.
Steps : Trail after reaching equivalent stop on the other side.
ConsiderWicks option reverse direction upon high reaching trailing Sell stop or low reaching trailing buy stop (instead of close) ConsiderWicksForDelayByStep does the same thing for calculating if the steps have reached.
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Added separate multiplier for stop and target.
Lesser value of target multiplier leads to more often trailing. Higher value of target multiplier lead to less often trailing.
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Added alertcondition on demand :)
Notas de prensa
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Added new type of delay based on breakouts. Breakouts are based on breakout candles logic present here: