OPEN-SOURCE SCRIPT
ATR Trailing Stop by tactical trade 22 Oct 2024
Description:
The ATR Dual Trailing Stop indicator is a versatile and powerful tool designed to help traders visualize dynamic support and resistance levels based on the Average True Range (ATR). This indicator plots two separate ATR-based trailing stops with customizable settings, providing a comprehensive view of potential market reversals and trend strength.
Key features:
Two ATR Trailing Stops: The first stop uses customizable ATR settings (default: 10-period ATR with a 3x multiplier), while the second stop uses an alternate configuration (default: 21-period ATR with a 7x multiplier).
Multi-Timeframe ATR Calculation: Regardless of the chart's time frame, the ATR is calculated based on a user-selected time frame (e.g., daily), allowing for consistent stop-loss levels even in lower time frames like 5-minute or 15-minute charts.
Visual Cues: The indicator clearly plots two trailing stop lines in different colors, making it easy to track the market’s volatility-based support and resistance areas.
No Buy/Sell Signals: This is purely a trailing stop indicator with no embedded buy/sell signals, giving traders the flexibility to use it with their preferred entry/exit strategies.
This indicator is especially useful in highly volatile markets where precise trailing stop levels are essential for managing risk and maximizing profit potential. The dual ATR configuration helps traders adapt to changing market conditions by providing two levels of stop placement: a shorter-term and a longer-term trailing stop.
The ATR Dual Trailing Stop indicator is a versatile and powerful tool designed to help traders visualize dynamic support and resistance levels based on the Average True Range (ATR). This indicator plots two separate ATR-based trailing stops with customizable settings, providing a comprehensive view of potential market reversals and trend strength.
Key features:
Two ATR Trailing Stops: The first stop uses customizable ATR settings (default: 10-period ATR with a 3x multiplier), while the second stop uses an alternate configuration (default: 21-period ATR with a 7x multiplier).
Multi-Timeframe ATR Calculation: Regardless of the chart's time frame, the ATR is calculated based on a user-selected time frame (e.g., daily), allowing for consistent stop-loss levels even in lower time frames like 5-minute or 15-minute charts.
Visual Cues: The indicator clearly plots two trailing stop lines in different colors, making it easy to track the market’s volatility-based support and resistance areas.
No Buy/Sell Signals: This is purely a trailing stop indicator with no embedded buy/sell signals, giving traders the flexibility to use it with their preferred entry/exit strategies.
This indicator is especially useful in highly volatile markets where precise trailing stop levels are essential for managing risk and maximizing profit potential. The dual ATR configuration helps traders adapt to changing market conditions by providing two levels of stop placement: a shorter-term and a longer-term trailing stop.
نص برمجي مفتوح المصدر
قام مؤلف هذا النص البرمجي بنشره وجعله مفتوح المصدر، بحيث يمكن للمتداولين فهمه والتحقق منه، وهو الأمر الذي يدخل ضمن قيم TradingView. تحياتنا للمؤلف! يمكنك استخدامه مجانًا، ولكن إعادة استخدام هذا الرمز في المنشور يخضع لقواعدقوانين الموقع. يمكنك جعله مفضلاً لاستخدامه على الرسم البياني.
هل تريد استخدام هذا النص البرمجي على الرسم البياني؟
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.