Trailing Take Profit (TTP) is a way to maximize profits on a trade by reaching a trigger value that will then follow the price up / down rather than exiting at a limit value.
In Prism strategies, you can enable TTP by selecting this box.
Trail TP Trigger %
This is the value between the entry value and the original profit target that will be used to start TTP. This value is a percentage difference between the entry and calculated profit target.
Trail TP Offset
This a percent value and is how far below (long) or above (short) the Trail TP Trigger % that will exit a trade. This value moves with the movement of the price. As the price moves in your favor, this offset value follows by the percent you input. This percentage is calculated as the percent difference between the entry price and the profit target. The tighter this value is, the more likely it is to be hit and exit a trade faster.
Backtesting with TTP
Backtesting with TTP is generally not recommended. Best practice is to find a viable strategy setup with set target in and out, and when you are happy with your setup, to then engage the TTP to allow for additional profit opportunities.