This code snippet demonstrates how to implement a dynamic trailing stop loss and take profit mechanism in a trading strategy using ProBuilder language. The trailing stop adjusts as the market price moves, ensuring that the stop loss and take profit levels adapt to changing market conditions.

sl = 20 //Stop loss distance
slmove = 3 //Price move needed to move stop loss
slminstop = 5 //Minimum stop loss distance allowed
tp = 20 //Take profit distance
tpmove = 3 //Price move needed to move take profit
tpminstop = 5 //Minimum take profit distance allowed

sl = max(sl, slminstop)
tp = max(tp, tpminstop)

if longonmarket and adj then
    slprice = positionprice - sl
    tpprice = positionprice + tp
    adj = 0
endif

if shortonmarket and adj then
    slprice = positionprice + sl
    tpprice = positionprice - tp
    adj = 0
endif

if not onmarket and (your long entry conditions) then
    buy 1 contract at market
    slprice = close - sl
    tpprice = close + tp
    adj = 1
endif

if not onmarket and (your short entry conditions) then
    sellshort 1 contract at market
    slprice = close + sl
    tpprice = close - tp
    adj = 1
endif

if longonmarket and high - sl > slprice + slmove then
    slprice = min(high - sl, close - slminstop)
endif

if longonmarket and low + tp < tpprice - tpmove then
    tpprice = max(low + tp, close + tpminstop)
endif

if shortonmarket and low + sl < slprice - slmove then
    slprice = max(low + sl, close + slminstop)
endif

if shortonmarket and high - tp > tpprice + tpmove then
    tpprice = min(high - tp, close - tpminstop)
endif

sell at slprice stop
exitshort at slprice stop
sell at tpprice limit
exitshort at tpprice limit

Explanation of the Code:

• The variables sl, slmove, and slminstop define the stop loss distance, the price movement needed to trigger a stop loss adjustment, and the minimum stop loss distance, respectively.
• Similarly, tp, tpmove, and tpminstop define the take profit distance, the price movement needed to trigger a take profit adjustment, and the minimum take profit distance.
• The max function ensures that the stop loss and take profit do not fall below their respective minimum values.
• Conditional statements check whether the market is long or short and adjust the stop loss (slprice) and take profit (tpprice) prices accordingly.
• New positions are opened based on specific entry conditions (not detailed here), setting initial values for slprice and tpprice.
• Further conditions dynamically adjust the slprice and tpprice as the market price moves, ensuring the trailing functionality.
• The sell and exitshort commands are used to exit positions at the calculated stop loss and take profit levels.