I have been looking for a while now for simple percentage trailing stop loss indicator and had almost given up until I stumbled on your script. Thanks for sharing it - simple and yet very powerful.
There is however one (major) issue that I really do not know how to address, that makes it unusable for a fair amount of stocks.
I see nowhere to input for the purchase date, only the actual “Position Entry Price”. If the script only uses the entry price it becomes impossible to use the trailing stop loss (%) for investments that are traded much lower today than they did years ago. (?)
An example maybe is best at explaining the situation I am referring to. Consider for example this stock – BEGR (BE Group AB). I bought it at 82 (SEK) on 13th of August 2021. I configure the indicator as such: 82 as entry price, “long” position, “%” method and “Percentage Value” 10. With this config the script will basically draw the SL line as a straight horizontal line at the price level 937 which occurred back in 2007!
Please let me know if I have misunderstood how to use your indicator.
Cheers,
Paul
mdeous
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@quattro7409, You are completely right, that's an issue I also encountered, I'll try to add an entry date setting whenever I can.
I have been looking for a while now for simple percentage trailing stop loss indicator and had almost given up until I stumbled on your script. Thanks for sharing it - simple and yet very powerful.
There is however one (major) issue that I really do not know how to address, that makes it unusable for a fair amount of stocks.
I see nowhere to input for the purchase date, only the actual “Position Entry Price”. If the script only uses the entry price it becomes impossible to use the trailing stop loss (%) for investments that are traded much lower today than they did years ago. (?)
An example maybe is best at explaining the situation I am referring to. Consider for example this stock – BEGR (BE Group AB). I bought it at 82 (SEK) on 13th of August 2021. I configure the indicator as such: 82 as entry price, “long” position, “%” method and “Percentage Value” 10. With this config the script will basically draw the SL line as a straight horizontal line at the price level 937 which occurred back in 2007!
Please let me know if I have misunderstood how to use your indicator.
Cheers,
Paul