Rajandran R Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in and Co-Creator of Algomojo (Algorithmic Trading Platform for DIY Traders)

Bollinger Band Based Trailing Stop Loss – Amibroker

53 sec read

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.

Indications
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

DLF Futures
[DLF Futures 10min charts] [wp_ad_camp_5]

Features
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.

Recommended Timeframes
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.

Compatibility
Amibroker 5.5 and above

Rajandran R Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in and Co-Creator of Algomojo (Algorithmic Trading Platform for DIY Traders)

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17 Replies to “Bollinger Band Based Trailing Stop Loss – Amibroker”

  1. Hi Rajandran,

    Do we have back tested results for this, how have you found them, if you could please share.

    Thanks for your efforts.

  2. Hi Rajendra,

    I am not able to do the backtest with the given AFL code. If possible can u please do the needful changes to AFL to do the back testing.

    Thanks
    Ravi

    1. Hi,

      Try adding the following code to the top of afl if you wanna test with 100 shares every time. Very the numbers and make sure you understand the backtesting with futures correctly.
      setpositionsize(100,spsshares);

    1. Hi Ajay,

      Most of the Graphics functions are not supported by 5.2 and it is quite meanigless to implement this indicator without dashboard. If you want to build the indicates remove all the codes below the plotshapes function. That makes the indicator to work but not the dashboard functions and timeleft features.

  3. hi rajandran, i don’t understand why my comments are not accepted by you but this is for the third time i’m asking you the same question. on your eod signals page, hourly chart shows “intra trend afl code”. so, can you please tell me is it different than “super trend afl”? thanks!

  4. Dear Sir,
    Whenever you done new post for AFLs then please notify me by email given above

  5. Hi Rajendra,

    I am not able to do the custom indicator save with won password in amibroker with the given AFL code. If possible can u please do the halp this matter.

    Thanks
    Subhankar

  6. Dear Rajendran , just now i saw ur site. tomorrow i wll see live. But any how thank u vry much dear.
    May God bless u and ur family too.

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