A trailing stop limit order is similar to trailing stop market but rather, executes a limit order once the trailing stop price is met. The limit offset refers to the difference between the stop price and the limit price in which the order will be executed.
For example: The last price of ETH is PHP 100,000. For example, you created a trailing stop sell limit order with peg price based on last price and trailing amount of PHP 10,000, and limit offset of PHP 1,000. If the last price reaches PHP 115,000, then the trailing stop price would be at PHP 105,000 while the limit price will be PHP 104,000. If the market changes direction and goes back to PHP 105,000, then your order will automatically become a limit order at the last calculated limit price.