BBand TSL or Bollinger Band based Trailing stop loss trading is once again a mechnaical trend trading system for lower timeframes inspired from mql4 (metatrader). The trailing stoploss method is completly built using bollinger bands and completely fits for stop and reverse strategy.
1)The green line indicates trailing stop for longs
2)The Red line indicates trailing stop for shorts
3)The Green Arrow indicates longs
4)The Red Arrow indicates shorts
1)Trailing Stoploss Lines
2)Buy/Sell Signal Added
3)Magnified Market Price at the right top corner
4)Timeleft counter to idenfity the end of the candle
5)Non Repainting – Arrows will form only after the end of the candle. No arrows will disappear once the signal formed.
5min/10min,15min. Dont try with higher timeframes as increase in timeframe will increase the risk in this particular trading strategy. And moreover it is a carryforward strategy and not a perfect intraday strategy though. But work pretty good in high volatile environment.
Steps to Install
1)Download BBand TSL Trading System for Amibroker
2)Unzip BBand TSL Trading System to local folder
3)Copy Bollinger-Band-Trailing-Stop-Loss-Trading-System.afl file to \program files\amibroker\formula\basic folder
5)Open Amibroker and Open a New Blank Chart
6)Goto Charts->Basic Charts and apply/drag-and-drop the BBand TSL Trading System code into the blank chart
7)Bingo you are done. Now you will be able to see the BBand TSL Trading System indicator with Buy and Sell signals.
Amibroker 5.5 and above