The trailing stop has two parameters: Activation Price (Trailing Stop Activation) and Trailing Stop (Trailing Stop Execute).
The first parameter determines the level after which your trailing stop becomes active. The second parameter is the actual trailing stop.
To activate the trailing stop, the price must first reach the activation level, meaning the price must move in the direction of your trade by the percentage you entered in the Activation Price field.
Once the activation price is reached, it becomes the starting point for your trailing stop. If the price continues to increase, the trailing stop will move in the same direction, maintaining a fixed distance (based on the percentage you entered in the Trailing Stop parameter).
If the price drops after reaching the activation price, the stop becomes active and remains at a fixed distance from the activation price (based on the trailing stop percentage entered). If the activation price is not reached, your strategy will not have a stop level.