Yes Brisvegas – I used to be very wary of trailing stops as they always seemed to be either too close or too far away – never just right. Now I am starting to see the benefits of letting trades run but sometimes the market just stops and goes sideways and you are still left with a trailing stop miles away from where you are. It would be nice in this scenario of a stopped/sideways market that the trailing stop moved up steadily locking in more profit or preventing further loss depending on how the trade was going.

Maybe the percentage amount the trailing stop reduces each time could be based on the historical ratio of red candles to green candles. A little more complicated to code but very possible.

Unfortunately like all good ideas it needs to be attached to a good strategy in the first place!