Decreasing the Trailing Stop Level every Trading Bar

When you set up a trailing stop for your strategy, you have the ability to define a fixed threshold or a variable one that depends on a custom formula. However, you cannot specify a trailing stop level that depends on the position or trade settings (Example: position return, number of bars held, current drawdown...)

This money management script gets a numeric value from you (decrease trailing stop by) and automatically decrease the trailing stop level by this value each trading bar.

The trailing stop decrease logic is applied to both long and short trades and only if you have enabled trailing stop in the trading system editor (Simulator -> Update)

Let us say that you specified a value of 0.5 and that your trailing stop is fixed at 30%. After the first trading bar, the trailing stop level becomes 29.5% and after 20 days, this level decreases to 20% and so on until it reaches the minimum level that is also specified by you (Minimum trailing stop level).

The script can be easily updated to adjust the stop loss instead of the trailing stop. To perform these updates, change the variable "TrailingStopOption" by "StopLossOption" and the variable "TrailingStop" by "StopLoss".

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