How to create a Trailing Stop Loss that can go up or down but with a limit so as not to increase the risk of the trade?
That means you have no trailing SL. Makes no sense.
The project here is to create a trailing Stop Loss that can go in the direction of the trade but also in the opposite direction,
however, by setting the value of the initial Stop Loss (the first that was sent by the order) as a limit.
This means that, for example, if we take a Long position, the Stop Loss can remain at the initial level or go higher and then
if desired, go down to the level of the initial Stop Loss but not lower.
By doing this, it allows us to either lower the risk of the trade or leave it at the same level.
To achieve this, I had thought of making the value of the initial Stop Loss a variable that could be used later to limit the
change in the Stop Loss.
Or if you have another method to achieve this type of trailing Stop Loss, let us know !
Like for example you have an RSI or something in this equation, and leave trade to breathe when RSI is neutral, and tighten stoploss if RSI above 70 in a long trade
Make a tighter stop when reversal in imminent ?
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The project here is to create a trailing Stop Loss that can go in the direction of the trade but also in the opposite direction,
however, by setting the value of the initial Stop Loss (the first that was sent by the order) as a limit.
This means that, for example, if we take a Long position, the Stop Loss can remain at the initial level or go higher and then
if desired, go down to the level of the initial Stop Loss but not lower.
By doing this, it allows us to either lower the risk of the trade or leave it at the same level.
To achieve this, I had thought of making the value of the initial Stop Loss a variable that could be used later to limit the
change in the Stop Loss.
Or if you have another method to achieve this type of trailing Stop Loss, let us know !