1Copy the scriptPress Copy script above, or the copy button on the code below.
2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
43 lines of Pine Script v5 from TradeGuardTrailingFloor.pine, published under MIT. Keep the author's credit and licence lines when you reuse it.
TradeGuardTrailingFloor.pine
//@version=5
indicator("TradeGuard Trailing Floor & Account Shield", overlay=true)
// User Inputs
drawdown_buffer = input.float(2000.0, title="Trailing Drawdown Buffer ($)")
tick_value = input.float(20.0, title="Dollar Value per 1.0 Price Point ($)", tooltip="Per contract/lot. NQ = 20, MNQ = 2, ES = 50, MES = 5")
contract_size = input.float(1.0, title="Position Contracts / Lots")
reset_daily = input.bool(true, title="Reset Anchor Each Session/Day")
// State Tracking
var float high_water_mark = na
var float trailing_floor = na
// Dollar buffer conversion to chart price points
buffer_points = (drawdown_buffer / (tick_value * contract_size))
// Session boundary check (Daily reset)
is_new_session = reset_daily and ta.change(time("D")) != 0
if barstate.isfirst or is_new_session
high_water_mark := high
trailing_floor := high - buffer_points
else
if high > high_water_mark
high_water_mark := high
calc_floor = high_water_mark - buffer_points
if calc_floor > trailing_floor
trailing_floor := calc_floor
// Plots
plot(high_water_mark, title="High-Water Mark (Peak)", color=color.new(color.blue, 20), style=plot.style_circles, linewidth=1)
plot(trailing_floor, title="TradeGuard Drawdown Floor", color=color.new(color.red, 0), style=plot.style_line, linewidth=2)
// Floor breach: shade the chart and expose an alert
breached = close < trailing_floor
bgcolor(breached ? color.new(color.red, 85) : na, title="Floor Breach Shading")
alertcondition(ta.crossunder(close, trailing_floor), title="Price crossed below TradeGuard floor", message="{{ticker}} closed below the TradeGuard trailing floor")
// Point value reminder on non-futures charts (defaults assume NQ at $20 per point)
var table warn_table = table.new(position.bottom_right, 1, 1)
if barstate.islast and syminfo.type != "futures"
warn_text = "Not a futures chart: set 'Dollar Value per 1.0 Price Point' for " + syminfo.ticker + " (symbol point value: " + str.tostring(syminfo.pointvalue) + ")"
table.cell(warn_table, 0, 0, warn_text, text_color=color.white, bgcolor=color.new(color.orange, 20), text_size=size.small)
Overview
A dollar drawdown buffer is converted to price points using the dollar value per point and the number of contracts. The floor only moves up, and the high-water mark can reset each day. The background turns red when the close is below the floor, and an alert is available. It follows chart price, not account equity.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Trailing Drawdown Buffer ($)
float
2000.0
drawdown_buffer
Dollar Value per 1.0 Price Point ($)
float
20.0
tick_value
Position Contracts / Lots
float
1.0
contract_size
Reset Anchor Each Session/Day
bool
true
reset_daily
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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