Thanks SH....this is great...how do we use this 3 bar swing high/low to trail our SL...could you kindly explain? thanks
Below is a chart showing the 3-bar Swing Hi and Lows. The Green Down Arrows show the Swing High and Yellow Up arrows show the swing Low. The Green Step-like line is the trailing Stoploss for Short trades. It start at the same level as the Swing High on the previous bar and continues horizontally till a new swing high is formed. Similarly the Yellow step-like line is Trailing stoploss for Long trades. It starts at the same level as the previous swing Low and continues horizontally till a new swing Low is formed. I hope now you can understand how to apply the trailing stoploss based on Swing High and Low.
-Anant