Sublime Trading | Trailing Stoploss

What kind of traders/investors are we?

We are trend followers. Our scripts are designed to be used on the higher timeframes (weekly/daily) to catch the large moves/trends in the market.

Most have heard of long-term trend following. Few know how to execute the strategy.

Our scripts are designed specifically to identify and invest in long-term market trends.

What does this script do?

The exit from a position is arguably more important than the entry.

Traders/Investors will regularly find themselves in an asset based on some logic, but the exit management is very much an afterthought.

Hence why traders often take profit too early and hold onto losing positions. It is emotionally driven.

The Trailing Stoploss script is designed to remove the guesswork and show you precise levels you will want to consider exiting a position when an asset reverses.

How is the trailing stoploss produced?

The script uses the formula ATR 15 x 4.

We use ATR as it produces a stoploss which is unique to the volatility of the asset. The more volatile the asset, the wider the stoploss.

We use ATR 15 as it brings an average reading across half a month, incorporating days of extreme volatility.

The multiplier 4 works well to avoid positions being stopped out prematurely on pullbacks.

When the trailing stoploss is hit, this is where you will want to consider taking profit.

What is the best timeframe to use the script?

We recommend the daily timeframe as this is where trend followers enter assets to maximise the potential of long-term trends.

The higher timeframes are where traders and investors take fewer positions and hold for longer time periods.

The trailing stoploss follows the price of the asset a distance away to give the trend structure enough space and time to develop.

A trend is ultimately a function of time. If you eliminate time, you eliminate the trend. If you eliminate the trend, you eliminate profit.

The Trailing Stoploss script is necessary for investors who appreciate that profit is accumulated by letting winning positions run and not taking profit too early.

What makes this script unique?

Exit management and knowing when to let go of an asset is one of the main struggles budding investors face. This script has been coded specifically for the daily timeframe to:

  • Create a trailing stoploss that is unique to the volatility of the asset.
  • Allow investors to stay in positions for the duration of the trend over many months.
  • To distinguish between a pullback and a market reversal, allowing for discretion.

This TSL script is designed to manage positions investors take in line with long-term market trends.

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