Advanced Pinescript Second Stop Loss Development

Job ID: 37825956

Budget: $10 – $30 USD

I require an experienced Pinescript developer to implement a secondary stop loss (SL) into my existing strategy. This SL should be compared with the original SL, with the closer one always selected.

Per my specifications, the secondary SL should be based on momentary drawdown and must never exceed defined parameter SSL without triggering an action. If the momentary drawdown does exceed SSL, this should cause the current position to be entirely sold off.

Ideal Abilities:

- Pinescript proficiency
- Stop loss functionality understanding
- Previous experience in financial trading scripts

Brief Summary:

- Design a second SL based on momentary drawdown
- Secondary SL compared with an original, the closest one picked
- Momentary drawdown must not exceed SSL parameter
- Current position completely sold if the drawdown surpasses SSL.
Related categories: Coding Programming Pine Script