This ProBuilder script is designed to manage a trading position by implementing a trailing stop loss and instantly reopening a trade when certain conditions are met. The code snippet below demonstrates how to set up these trading controls.

Once TriggerPips = 175 * pipsize
Once CloseTrigger = 100 * pipsize
Once TPflag = 0 //will be set to 1 when TP reaches 175 pips

If not OnMarket then
    TPflag = 0
    MyProfit = 0
Endif

If LongOnMarket then
    MyProfit = Close - PositionPrice
Elsif ShortOnMarket then
    MyProfit = PositionPrice - close
Endif

If MyProfit >= TriggerPips Then
    TPflag = 1
Endif

If TPflag And MyProfit <= CloseTrigger Then
    TPflag = 0
    MyProfit = 0
    NewSL = 0
    If LongOnMarket Then
        Sell at Market
        Buy 1 Contract at Market
    Elsif ShortOnMarket Then
        Exitshort at Market
        Sellshort 1 contract at Market
    Endif
Endif

The code operates as follows:

• Initialization: Variables TriggerPips and CloseTrigger are set to define the profit thresholds for the trailing stop and the reopening condition. TPflag is used as a flag to indicate whether the initial profit target has been reached.
• Market Entry Check: If the strategy is not currently in the market, it resets TPflag and MyProfit to ensure clean slate calculations for new entries.
• Profit Calculation: Depending on whether the position is long or short, MyProfit calculates the unrealized profit from the current position.
• Trailing Stop Activation: If the profit exceeds TriggerPips, TPflag is set to 1, activating the trailing stop mechanism.
• Position Management: If TPflag is active and profit drops below CloseTrigger, the position is closed at market price, and a new position is immediately opened in the same direction, effectively resetting the strategy.

This script is useful for traders looking to capitalize on favorable market movements while protecting gains with a trailing stop, and immediately re-entering the market upon retracement.