Enter a long position when price break the highest within 4 bars

i use as filter “trend continuation factor” when the green line is over and adx

It provides a trailing stop and %stop loss

I suggest to download the strategy with the link below, to get the complete code (strategy + indicator at the same time when importing it).

bars = 21

barsback = 4
TcfL, TcfS = CALL "Trend Continuation Factor"[15]

if high = highest[bars](close)  then
bi = barindex
hh = highest[bars](close)
endif

//conditions long
l1 = close crosses over hh
l1 = l1 and barindex < bi + barsback
l1 = l1 and TcfL > TcfS
l1 = l1 and adx[10] > 16

//enter position
if not onmarket and l1 then
buy at market
//SET TARGET PPROFIT AverageTrueRange[14](close)*6.5
endif

trailingstart = tradeprice/315 //trailing will start @trailinstart points profit
trailingstep = 5 //trailing step to move the "stoploss"

//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)>=trailingstart*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

//stop order to exit the positions
IF newSL>0 THEN
SELL AT newSL STOP
EXITSHORT AT newSL STOP
ENDIF

SET STOP %LOSS 0.7

nuovo-opendocument-disegno-15239760838pl4c.jpg Breakout-Long-on-Dax-1-hour.itf