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Assume the Once Price Moves value is 5% and the Trail Percent value is 6%.
Example 1:
For a long trade, assume the entry bar for the trade has a high of 20.0.
The financial instrument would have to move to 21.0 before the trailing stop would take effect:
20 + [20 * [5 / 100]] = 21.0
Assume the next bar has a high of 21.5 and a low of 20.5. Since the Once Price Moves value was hit, the trailing stop would be calculated as:
20.5 - [20.5 * [6 / 100]] = 19.27
If at any time the price for the instrument drops below 19.27, the trade would be exited.
Assume the next bar has a high of 22 and a low of 20. The stop would not be moved, since
20.0 - [20.0 * [6 / 100]] = 18.8, and 18.8 is not higher than 19.27.
Assume the next bar has a high of 23 and a low of 22. The stop would be moved to
22.0 - [22.0 * [6 / 100]] = 20.68, since 20.68 is higher than 19.27.
Assume the next bar has a high of 22 and a low of 20.5. The stop would be exited.
Example 2:
For a short trade, assume the entry bar for the trade has a low of 20.0.
The financial instrument would have to move to 19.0 before the trailing stop would take effect:
20 - [20 * [5 / 100]] = 19.0
Assume the next bar has a low of 18.5 and a high of 19.5. Since the Once Price Moves value was hit, the trailing stop would be calculated as:
19.5 + [19.5 * [6 / 100]] = 20.67
If at any time the price for the instrument rises above 20.67, the trade would be exited.
Assume the next bar has a low of 18 and a high of 20. The stop would not be moved, since
20.0 + [20.0 * [6 / 100]] = 21.2, and 21.2 is not less than 20.67.
Assume the next bar has a low of 17 and a high of 18. The stop would be moved to
18.0 + [18.0 * [6 / 100]] = 19.08, since 19.08 is less than 19.27.
Assume the next bar has a low of 18 and a high of 19.5. The stop would be exited.