// This source code is subject to the terms of the Mozilla Public License 2.
0 at
https://mozilla.org/MPL/2.0/
// © ZenAndTheArtOfTrading / www.PineScriptMastery.com
// Last Updated: 21st December, 2021
// @version=5
indicator("Trailing Stop Alerts", overlay=true)
// Get user input
trailType = input.string(title="Trail Type", defval="Long",
options=["Long", "Short"], confirm=true)
structureLookback = input.int(title="Lookback", defval=7, confirm=true)
atrLength = input.int(title="ATR Length", defval=14)
multiplier = input.float(title="ATR Multiplier", defval=1.0, confirm=true)
barTime = input.time(title="Bar Time", defval=timestamp("01 Jan 2021
13:30 +0000"), confirm=true)
// Get the current ATR
atr = ta.atr(atrLength) * multiplier
// Declare trailing variables
var trailPrice = 0.0
t_trailPrice = trailType == "Long" ? ta.lowest(low, structureLookback) - atr :
ta.highest(high, structureLookback) + atr
alertType = -1
// Check for trailing stop update
if time >= barTime and barstate.isconfirmed
// Trail long stop
if (t_trailPrice > trailPrice or trailPrice == 0.0) and trailType == "Long"
trailPrice := t_trailPrice
// Trigger alert
alertType := 1
alert(message="Trailing Stop updated for " + syminfo.tickerid + ": " +
str.tostring(trailPrice, "#.#####"), freq=alert.freq_once_per_bar_close)
// Trail short stop
if (t_trailPrice < trailPrice or trailPrice == 0.0) and trailType == "Short"
trailPrice := t_trailPrice
// Trigger alert
alertType := 1
alert(message="Trailing Stop updated for " + syminfo.tickerid + ": " +
str.tostring(trailPrice, "#.#####"), freq=alert.freq_once_per_bar_close)
// If long stop is hit, reset trail stop
if trailPrice != 0.0 and low <= trailPrice and trailType == "Long"
trailPrice := na
// Trigger alert
alertType := 2
alert(message="Trailing Stop hit for " + syminfo.tickerid,
freq=alert.freq_once_per_bar_close)
// If short stop is hit, reset trail stop
if trailPrice != 0.0 and high >= trailPrice and trailType == "Short"
trailPrice := na
// Trigger alert
alertType := 2
alert(message="Trailing Stop hit for " + syminfo.tickerid,
freq=alert.freq_once_per_bar_close)
// Draw data to chart
plot(trailPrice != 0 ? trailPrice : na, color=color.red, title="Trailing Stop")
// Trigger alert conditions
alertcondition(alertType == 1, "Trailing Stop Update", "Trailing Stop updated for
{{ticker}}: {{plot_0}}")
alertcondition(alertType == 2, "Trailing Stop Hit", "Trailing Stop hit for
{{ticker}}")
