Specification
Development Brief: Dynamic Swing StopLoss Indicator with LuxAlgo Reset & Alert Integration
🎯 Goal
To build a Pine Script indicator that extends an existing Swing StopLoss system by adding dynamic trailing logic, reset trigger via LuxAlgo blue dot alerts, and manual or alert-based entry activation. The system must fully support Heikin Ashi candles and be visually intuitive for live trading.
📌 Base Code Reference
You’ll use my current indicator as a starting point. It already calculates fixed stop-loss levels based on swing highs/lows and applies an offset percentage:
//@version=5
indicator("Swing SL ±X% (LONG & SHORT) | HA Compatible", overlay=true)
length = input.int(50, minval=1, title="Swing Length")
longOffsetPercent = input.float(0.1, minval=0.01, step=0.01, title="LONG Offset (%)")
shortOffsetPercent = input.float(0.1, minval=0.01, step=0.01, title="SHORT Offset (%)")
useTruePrices = input.bool(true, title="Use true OHLC (for Heikin Ashi support)")
srcLow = useTruePrices ? request.security(syminfo.tickerid, timeframe.period, low) : low
srcHigh = useTruePrices ? request.security(syminfo.tickerid, timeframe.period, high) : high
swingLow = ta.lowest(srcLow, length)
swingHigh = ta.highest(srcHigh, length)
longStop = swingLow * (1 - longOffsetPercent / 100)
shortStop = swingHigh * (1 + shortOffsetPercent / 100)
plot(longStop, title="LONG Stoploss", color=color.green)
plot(shortStop, title="SHORT Stoploss", color=color.red)
plotshape(srcLow <= longStop[1], title="LONG SL Trigger", location=location.belowbar, color=color.green, style=shape.xcross)
plotshape(srcHigh >= shortStop[1], title="SHORT SL Trigger", location=location.abovebar, color=color.red, style=shape.xcross)
alertcondition(srcLow <= longStop[1], title="LONG SL Trigger", message="Price hit LONG stoploss")
alertcondition(srcHigh >= shortStop[1], title="SHORT SL Trigger", message="Price hit SHORT stoploss")
🛠️ Required Additions
1. Trade Activation Logic (based on alert messages)
⦁ Trade should be considered active only after a specific alert message is received.
⦁ Alert messages are sent via TradingView alerts (via external LuxAlgo signals):
- "LONG" → sets activeTrade = true, tradeSide = "long"
- "SHORT" → sets activeTrade = true, tradeSide = "short"
⦁ These are passed via alert_message.
2. Dynamic Swing Length Logic (fully user-configurable)
⦁ Add user input:
Initial Swing Length (default: 50)
⦁ Add user input:
Swing Tightening Frequency (default: every 3 bars)
⦁ Once a trade is active:
- After every N bars (user-defined), the swing length is reduced by 1.
- Minimum allowed swing length = 5.
⦁ This dynamically adjusts the SL calculation as trade matures.
3. Reset via LuxAlgo Blue Dot (via alert message)
⦁ When alert_message == "RESET":
⦁ - Trade is deactivated.
⦁ - Dynamic swing length is reset to the initial input value.
⦁ - Candle counter is reset.
⦁ - A visual label is drawn: "RESET DONE (Blue Dot)" in blue color.
4. Stop-Loss Calculation Logic (conditional on trade state)
⦁ LONG: swingLow * (1 - offset%)
⦁ SHORT: swingHigh * (1 + offset%)
⦁ These SL lines must be plotted only when a trade is active.
5. Visual Markers and Alerts
⦁ Show green ❌ below bar when LONG stop is hit.
⦁ Show red ❌ above bar when SHORT stop is hit.
⦁ Alert messages:
- 🔔 Price hit LONG stoploss
- 🔔 Price hit SHORT stoploss
6. Optional Manual Testing Inputs (for developer)
⦁ Add toggle inputs for manually triggering:
- LONG, SHORT, or RESET
⦁ These help verify the functionality without external alerts.
🧪 How the Indicator Should Work (Free-form Explanation)
This indicator dynamically adjusts stop-loss levels based on recent price swings and responds to external LuxAlgo signals. Once a 'LONG' or 'SHORT' message is received, the system activates a trade and begins calculating a progressive trailing stoploss. The swing length is initially user-defined (e.g., 50 candles), and after every N bars (e.g., 3), it tightens by 1, simulating dynamic risk management.
When a 'RESET' message is received (typically from a LuxAlgo blue dot alert), the system deactivates the trade, resets the swing parameters, and waits for the next entry. The script must work seamlessly on Heikin Ashi candles, using raw OHLC data when needed.
The entire system must not repaint, be cleanly structured, and provide visual clarity:
- SL lines
- Reset labels
- Stoploss trigger markers
- Alerts
📤 Output Files & Expectations
- Final `.pinescript` file (ready for TradingView)
- Code should be well-documented and structured
- Inputs must be clearly labeled
- Developer should provide a short usage summary (what alert messages trigger what)
🖼️ Visual Example: Custom Alert and StopLoss Structure
Below is a screenshot example illustrating the StopLoss levels, LuxAlgo blue dot behavior, and how alerts appear when the dynamic system is working live on the chart.
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