Today we are going to cover the fixed trailing stop. This indicator is a very flexible approach to preserving profit, so let's have a look. Here we are charting the future symbol CL with a 10 point range bar. The trailing stop loss indicator places a plot on the chart based on the distance in price from the current price. When the price breaks the stop loss line and arrow indicating that direction changes bought it and the colors indicator will change from blue to red for a short trade, or to blue for a long trade. Lets have a look at the indicator settings
The fix trailing stop can be set to your preferences, I have mine at 0.20. I'm using a period of 14. I have my arrows set to true as I would like to see the arrows when the price direction does change. I am using the alert sound again so when my fixed trailing stop is hit and closed beyond my trailing stop, I will be alerted by not only the arrow but also sound
The great thing about this indicators you don't need to stay in the room during a nice move, and to your trade and let your fix trailing stop tell you when it's time to exit. Less emotion and more profit!
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