Trail stop plot

[aptrader]

Greetings All,
I’m trying to plot the trail stop strategy ( available on thinkorswim platform) but not clear on the logic. The variable to be plotted is “trailStopPrice”. Would like to get some help !

Thank you in advance!
AP

#
# TD Ameritrade IP Company, Inc. (c) 2011-2024
#

input trailStop = 1.0;
input offsetType = {default percent, value, tick};

def entryPrice = entryPrice();
def price = if IsNaN(entryPrice[1]) then entryPrice else if !IsNaN(entryPrice) then Max(high, price[1]) else entryPrice;

def mult;
switch (offsetType) {
case percent:
mult = price / 100;
case value:
mult = 1;
case tick:
mult = tickSize();
}

def trailStopPrice = price - trailStop * mult;

addOrder(OrderType.SELL_TO_CLOSE, low <= trailStopPrice, tickColor = GetColor(0), arrowColor = GetColor(0));

 

[halcyonguy]

Greetings All,
I’m trying to plot the trail stop strategy ( available on thinkorswim platform) but not clear on the logic. The variable to be plotted is “trailStopPrice”. Would like to get some help !

Thank you in advance!
AP

#
# TD Ameritrade IP Company, Inc. (c) 2011-2024
#

input trailStop = 1.0;
input offsetType = {default percent, value, tick};

def entryPrice = entryPrice();
def price = if IsNaN(entryPrice[1]) then entryPrice else if !IsNaN(entryPrice) then Max(high, price[1]) else entryPrice;

def mult;
switch (offsetType) {
case percent:
mult = price / 100;
case value:
mult = 1;
case tick:
mult = tickSize();
}

def trailStopPrice = price - trailStop * mult;

addOrder(OrderType.SELL_TO_CLOSE, low <= trailStopPrice, tickColor = GetColor(0), arrowColor = GetColor(0));

that code looks for a trade, reads the buy price, and calculates from that.
no trade, no buy , no line
it only has a code line to close a trade,
addOrder(OrderType.SELL_TO_CLOSE,
there is nothing in the code to start a trade.
log into paper mode and buy something , a fake trade with fake money and see what shows up.

otherwise, add code to the beginning of that code, to describe your buy rule,
and add a code line to buy, addorder(ordertype.buy_to_open,...