I am guessing the PAN exit is profit take type exit or target? The narration says 'STALE'.
I also hate reading long-winded posts (my apologies in advance)
@investtrader the StaleStop exit is correct. My "StaleStop Exit" is a combination of 6 exit conditions being met & is extremely difficult for me to explain simply without explaining the complex coding involved.
Rapid changes in price
First off the "Stale Stop Exit Strategy" is to gauge when momentum is shifting, slowing, or reducing but there are other conditions that need consideration as well. There are multilayers to the "StaleStop Exit" as momentum needs to be calculated bar-by-bar from every angle as well as the relationship to previous bars.
Why is this so important?
For this very reason "spikes" in either direction, that fall outside the relationship to previous bars means something has shifted, something has changed that is usually only explained later. I'm saying these shifts can proceed an "official announcement" & my way of thinking it's better to be "safe" than "sorry". Traders hate uncertainty & I'm the same.
Clarification
Many moons ago I would have every StaleStop separated with their individual column in the "Exploration Analysis" for debugging purposes. Over the period I've become more minimalistic as far as reporting goes. Also, the "StaleStop Exit" does not use the Minimum, Maximum, or Average metric but more with the "Relationship" to previous bars.
The Exit condition
I now use only 3 coloured arrows as well as the wording printed on the chart to denote the exit application that has been used. Simplicity with visuals aids is so handy when looking at multiple charts. As they say "a picture paints a thousand words". A "StaleStop Exit" correctly implemented keeps all my strategies in rotation mode.
Colour Coding
1. (Green Arrow = Take Profit Stop Exit),
2. (Yellow Arrow = StaleStop Exit) &
3. (Red Arrow = Trailing Stop Exit)
The StaleStop (measured bar-by-bar)
(a) The StaleStop exits after a certain number of bars when there is a loss in momentum.
(b) The StaleStop also will execute after a percentile drop of the ROC filter over a "nPeriod" from the High of the entry price. (the buy price)
(c) A simple GMMA exit (simple & effective) without going into detail.
(d) An unhealthy relationship between MACD & StochD over a "nPeriod" to the most recent bar.
(e) The UlcerUp indicator falls out of range.
(f) The "GTFO" indicator has been activated.
The "Stale Stop Exit" I use appears complicated & it is
Well, using a standard stand-alone "Trailing Stop" exit doesn't cut it in many ways as a "Trailing Stop" will give back so much open profit & makes the drawdown look pathetic. I enter on a confirmed trend & when the trend loses steam I want to be off the ride. The only issue is when trading a weekly strategy you need to endure the "weekly volatility".
The Take profit Stop
The "take profit stop" is simply an ATR (4) profit stop. We are chart "experts in hindsight" but system trading picks the moves in real-time. Also using a "Take Profit Stop" these days is certainly a sign of the times adopting this feature allows you to take advantage of the shift in trading since COVID. I've spent endless hours trying to code a strategy to reduce the emotional stress of trading. Limiting drawdowns always come at a cost & integrating a "Take Profit Stop" has certainly helped in this regard. Using a "Take Profit Exit" locks in the profit allowing us to "immediately" look for the next ride.
It's prudent
I should point out at this stage that all trend-following systems need to trade when the markets are bullish to achieve good results. Conversely, trend trading systems will struggle to produce reasonable profits when markets are down-trending or going sideways which is on full display with "The Flying Bat Strategy" recently posted results, but at least it allows me to trade every week otherwise trading becomes boring.
Chart for PAN
For full disclosure, I have attached the chart with notations for clarification.
Also, to answer your other question
I trade the ASX All Ordinaries.
Skate.