This code snippet demonstrates how to implement trailing stops for both long and short trading positions in the ProBuilder language, with conditional logic to decide whether to exit the trade using a stop order, a limit order, or at the market price based on the current price’s relation to a defined distance.

//************************************************************************
//trailing stop function
trailingstartL = 20 //LONG trailing will start @trailinstart points profit
trailingstartS = 20 //SHORT trailing will start @trailinstart points profit
trailingstep = 5 //trailing step to move the "stoploss"
Distance = 6 * PipSize //reset the stoploss value

IF NOT ONMARKET THEN
    newSL=0
ENDIF

//manage long positions
IF LONGONMARKET THEN
    //first move (breakeven)
    IF newSL=0 AND close-tradeprice(1)>=trailingstartL*pipsize THEN
        newSL = tradeprice(1)+trailingstep*pipsize
    ENDIF

    //next moves
    IF newSL>0 AND close-newSL>=trailingstep*pipsize THEN
        newSL = newSL+trailingstep*pipsize
    ENDIF
ENDIF

//manage short positions
IF SHORTONMARKET THEN
    //first move (breakeven)
    IF newSL=0 AND tradeprice(1)-close>=trailingstartS*pipsize THEN
        newSL = tradeprice(1)-trailingstep*pipsize
    ENDIF

    //next moves
    IF newSL>0 AND newSL-close>=trailingstep*pipsize THEN
        newSL = newSL-trailingstep*pipsize
    ENDIF
ENDIF

//stop order to exit the positions
IF newSL>0 THEN
    IF LongOnMarket THEN
        IF (close - Distance) > newSL THEN
            SELL AT newSL STOP
        ELSIF (close + Distance) < newSL THEN
            SELL AT newSL LIMIT
        ELSE
            SELL AT Market
        ENDIF
    ELSIF ShortOnMarket THEN
        IF (close - Distance) > newSL THEN
            EXITSHORT AT newSL LIMIT
        ELSIF (close + Distance) < newSL THEN
            EXITSHORT AT newSL STOP
        ELSE
            EXITSHORT AT Market
        ENDIF
    ENDIF
ENDIF
//************************************************************************

This code snippet is structured to manage trading positions by adjusting the stop loss dynamically as the trade moves into profit. Here's a breakdown of its functionality:

• Initialization: Sets the parameters for when the trailing stop should start and the step size for moving the stop loss.
• Checking Market Position: Determines if the trader is not in the market, and if so, resets the stop loss variable.
• Long Position Management: For long positions, the code first checks if the profit has reached a specified start point to move the stop loss to a breakeven point, then continues to trail the stop loss as the price moves further into profit.
• Short Position Management: Similar to long positions but adjusted for short trades, moving the stop loss down as the trade gains profit.
• Conditional Exit Strategy: Depending on the price's relation to the stop loss and a defined distance, the trade is exited using a stop order, a limit order, or at the market price to optimize the exit based on market conditions.

This example is useful for understanding how to implement advanced trading strategies programmatically, focusing on maximizing profits and minimizing losses through dynamic stop loss adjustments.