The chart below illustrates this concept, demonstrating the use of a sell stop order entry (dotted red TL), a profit target (solid green TL) and a buy stop order as a stop loss (dotted green TL):

A detailed description of the technique, documentation for the code, and configuration recommendations may be found in the links below:

1. Defining Trend Lines
2. Trading Examples
3. Code Description
4. Configuration Settings
5. Usage Recommendations

Downloads:

Initial posted version: 04/24/09

Updated: 04/02/11

All Routines Bundled: TL_Trader.zip

Included *.ELD files are compiled for TS 9.0

Users of ealier versions of Tradestation may compile the code
from the text files included in the above *.zip file.