The indicator / system was developed a few years ago.
Contains two ATR trailing stop lines, fast and slow.
The slow ATR SL line is the same as the one in a normal ATR trailing stop loss indicator.
The fast one is created to generate buy/sell signals
To use the signals, activate them from the indicator's settings (gear icon next to the indicator's name on the chart) and enable buy / sell arrows.
The system works well in high market.
I personally use this as the faster system in conhunction with my slower MA system to diversify portfolio performance.
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.
I dont have the ability to create as you do, would you consider adding another feature so each ATR can have a different data source?
Reason I ask is my exit strategy is start with a closing ATR stop loss and after the first correction (if Im not stopped out) is shifting over to a smaller multiple ATR on a highest high basis. Most times gets me out closer to the top. I trade on about a 2 week horizon
That way it will all be in one script! (Im open to any ideas to improve my exits)