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Pivot Points Trailing Stop Helper

69 USD

Demo downloaded: 1

Published: 8 January 2025

Current version: 1.2

Pivot Points Trailing Stop Helper

Utilities
Juergen Limmer
Juergen Limmer
Germany

535
I am a professional software developer with more as 30 years of practical experience.
Trading and investing is one of my hobbies. Since 2019 I have also been using MetaTrader5 and have programmed various indicators and EA's for this purpose.

19 topics 108 comments
Version: 1.2
Updated: 12 January 2025
Activations: 5

Pivot points are calculated based on the previous day's values - according to the most common formulas on the web - and serve as an important tool for many traders, especially in day trading.

They indicate possible resistance and support where increased buyer and seller interest can be expected.

This Pivot-Points-Trailing-Stop-Helper includes my Pivot Points Collection indicator and, based on your settings, gradually moves the SL to the corresponding pivot levels as soon as the current price exceeds a higher (long position) or
lower (short position) level.
The SL can be set to the last or penultimate level - from the perspective of the current price.

If desired, a distance between the SL and the desired level can be set. This distance can be changed step by step depending on the tick size of the corresponding symbol.

Changes to the settings can only be made when the Pivot-Points-Trailing-Stop-Helper is not in "Running" mode.
Changed settings only have an effect on an SL that has already been set if it moves the SL closer in the trading direction!

If no corresponding SL can be set automatically due to the settings and the current price, the trader should set an initial SL manually!

Important: The Pivot-Points-Trailing-Stop-Helper cannot be used properly in the strategy tester because there are no entries automatically!

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Screenshot #1 Pivot Points Trailing Stop Helper

Screenshot #2 Pivot Points Trailing Stop Helper

Screenshot #3 Pivot Points Trailing Stop Helper

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Pivot Points Trailing Stop Helper

Juergen Limmer