// This work is licensed under a Attribution-NonCommercial-ShareAlike 4.
0 International (CC BY-NC-SA
4.0) https://creativecommons.org/licenses/by-nc-sa/4.0/
// © LuxAlgo
//@version=5
indicator("Market Structure Trailing Stop [LuxAlgo]", overlay = true, max_lines_count = 500)
//------------------------------------------------------------------------------
//Settings
//-----------------------------------------------------------------------------{
length = input(14, 'Pivot Lookback')
incr = input.float(100, 'Increment Factor %', minval = 0)
resetOn = input.string('CHoCH', 'Reset Stop On', options = ['CHoCH', 'All'])
showMS = input(true, "Show Structures")
//Style
bullCss = input(color.teal, 'Bullish MS' , group = 'Colors')
bearCss = input(color.red, 'Bearish MS' , group = 'Colors')
retCss = input(#ff5d00, 'Retracement' , group = 'Colors')
areaTransp = input.int(80, 'Area Transparency', minval = 0, maxval = 100, group = 'Colors')
//------------------------------------------------------------------------------
//Global variables
//-----------------------------------------------------------------------------{
var float ph_y = na , var int ph_x = na
var float pl_y = na , var int pl_x = na
var float top = na , var float btm = na
var ph_cross = false, var pl_cross = false
var float max = na
var float min = na
var float ts = na
var os = 0
ms = 0
//------------------------------------------------------------------------------
//Detect pivots and get coordinates
//-----------------------------------------------------------------------------{
n = bar_index
ph = ta.pivothigh(length, length)
pl = ta.pivotlow(length, length)
if ph
ph_y := ph
ph_x := n - length
ph_cross := false
if pl
pl_y := pl
pl_x := n - length
pl_cross := false
//-----------------------------------------------------------------------------}
//Bullish structures
//-----------------------------------------------------------------------------{
if close > ph_y and not ph_cross
if resetOn == 'CHoCH'
ms := os == -1 ? 1 : 0
else
ms := 1
ph_cross := true
//Highilight bullish MS
if showMS
line.new(ph_x, ph_y, n, ph_y
, color = bullCss
, style = os == -1 ? line.style_dashed : line.style_dotted)
os := 1
//Search for local minima
btm := low
for i = 0 to (n - ph_x)-1
btm := math.min(low[i], btm)
//-----------------------------------------------------------------------------}
//Bearish structures
//-----------------------------------------------------------------------------{
if close < pl_y and not pl_cross
if resetOn == 'CHoCH'
ms := os == 1 ? -1 : 0
else
ms := -1
pl_cross := true
//Highilight bearish MS
if showMS
line.new(pl_x, pl_y, n, pl_y
, color = bearCss
, style = os == 1 ? line.style_dashed : line.style_dotted)
os := -1
//Search for local maxima
top := high
for i = 0 to (n - pl_x)-1
top := math.max(high[i], top)
//-----------------------------------------------------------------------------}
//Trailing stop
//-----------------------------------------------------------------------------{
//Trailing max/min
if ms == 1
max := close
else if ms == -1
min := close
else
max := math.max(close, max)
min := math.min(close, min)
//Trailing stop
ts := ms == 1 ? btm
: ms == -1 ? top
: os == 1 ? ts + (max - max[1]) * incr / 100
: ts + (min - min[1]) * incr / 100
//-----------------------------------------------------------------------------}
//Plots
//-----------------------------------------------------------------------------{
css = ms ? na
: os == 1 ? bullCss
: bearCss
plot_price = plot(close, editable = false, display = display.none)
plot_ts = plot(ts, 'Trailing Stop', color = css)
css_area = (close - ts) * os < 0 ? retCss
: css
fill(plot_price, plot_ts, color.new(css_area, areaTransp))
//-----------------------------------------------------------------------------}
