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Ask a Trainer - TC2000 version 12/18
20% trailing stop
I am new to TC2000 (a few days), I have been trying to find a percentage trailing stop that I can trail below price at 20% but that holds it's ground when price retreats.
I have been using the volatility stop but it just doesn't feel right.
I have no experience in writing code, can someone tell me if there is a way of getting this indicator on my charts in TC2000?
You could write a stop that is 20% below the high over X bars.
So something like the following could be plotted in the same pane and scale as price using a Custom PCF Indicator.
.8 * MAXH5
It will start retreating 5 bars after the high however, so the period used might be something you could play with a bit.