TRAILING

The TRAILING instruction in ProBuilder language is used to set a trailing stop order, which is a dynamic stop order set at a specific number of price units away from the current market price. This type of stop adjusts as the price of the asset moves, providing a flexible approach to managing risk while allowing potential profits to grow.

Syntax:

SET STOP TRAILING x

Where x represents the number of points the trailing stop should be set away from the current market price.

Example:

// Define moving averages
i1 = average(close)[100]
i2 = average(close)[5]

// Define entry and exit conditions
tradeinitiate = Close > i1 AND Close < i2 AND Low[3] > Low[2] AND Low[2] > Low[1] AND Low[1] > Low
tradeclose = Close > Close[1]

// Execute trade
IF NOT LongOnMarket AND tradeinitiate THEN
    BUY 1 CONTRACTS AT MARKET
ENDIF

IF LongOnMarket AND tradeclose THEN
    SELL AT MARKET
ENDIF

// Set a trailing stop loss
SET STOP TRAILING 10

In this example, a trailing stop is set to maintain a distance of 10 points from the current market price. This stop will adjust as the market price moves, securing profits while limiting potential losses.

• The trailing stop is particularly useful in volatile markets where price swings can occur rapidly.
• It allows traders to stay in the market as long as the price is moving favorably, but exits the trade if the price changes direction by a specified amount.

This instruction is essential for traders who want to manage their risk dynamically, adapting their strategies to market conditions without needing to manually reset their stop levels.