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Intelligent trailing targets - More profit per trade!
This package includes several different intelligent targets, aimed at helping you get the most out of your trade. This new way of profit-taking takes advantage of indicators in order to optimize the exit strategy for a trade. For example, in an unbroken trend, the profit targets are continuously shifted forward in an attempt to stay in the position for as long as possible and get the most out of it. Alternatively, they can be used to define important pivot points as targets and to exit there automatically.
And if that weren’t enough, the trailing targets are also taken into account when back testing!
The intelligent trailing targets in detail
This package includes:
- a trailing target based on the Bollinger bands
- a trailing target based on the Keltner channel
- a trailing target based on the moving average
- a trailing target based on the price channel
The indicator’s parameters can be freely set by the user and can also be optimized within the trading platform.
The package can be applied to all instruments (indices, forex, commodities...) and used in all time frame.
This example shows a profit target based on one of the Bollinger bands. As long as the short trend is intact, and the price is dropping slow and steady, the profit target is moved further away. In the case of an increase in volatility and an acceleration of the downtrend, the profit target is reached and profits are taken.
This example shows the profit target based on a Keltner channel. Similar to the Bollinger profit target, the target is pulled up until it comes to an extreme move, which will then cause the profits to be taken. Furthermore, the ATR of the previous periods is used in order to fine tune the target even further.
You believe that prices will move back to their mean/moving average? Then set the profit target to reflect just this. The MA will change almost each period and so does your profit target - completely automated with no action required on your part.
You prefer trading in a range? Why then not automatically place your target at the top or bottom end of the range. In this example you can see how the profit target uses the upper side of the price channel as its exit point and - by doing so - the trader gets an optimal price to close the position.
If you are not yet familiar with the NanoTrader Full platform, please visit the quick start page.
Tools, such as automated stops and targets when opening a position, require TradeGuard + AutoOrder to be activated prior to entering in a position. This can be done by clicking on the button in the top right corner of the chart.