Guide
How does the Traling.SL.Target strategy work ?
The Trailing.SL.Target strategy uses a trailing stop-loss (SL) and target system to lock in profits and limit losses during trades. It operates on an EMA (Exponential Moving Average) crossover principle for trade entry points, establishing long positions when a fast EMA crosses above a slow EMA, and short positions when it crosses below. Traders can select between percentage-based or fixed-point methods for trailing the SL and target.
- For percentage-based trailing:
- Triggers are set for initial profit and SL as percentages of the trade price.
- Trailing begins when the trade profit exceeds a predefined percentage.
- Both the profit target and SL are then trailed by set percentages each step.
- For fixed-point trailing:
- Initial profit targets and SLs are established as fixed point values from the entry price.
- Trailing starts at a specified point gain from the initial profit target.
- The profit target and SL are then adjusted by predetermined points at each iteration.
Diverse shapes on the chart—diamonds, circles, and labels—provide visual cues and additional information through tooltips, such as trade details and trailing iterations. These help traders track the movement and modification of SL and target levels as the strategy progresses.