LeMogwai

Parabolic Stop

Parbolic Stop is a mix between the indicator Parabolic SAR , Volatility Stop and an SMA .

The goal of this indicator is to place your stop loss in an optimized spot. You can also combine the indicator switch from different timeframes to get buy or sell signal.
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study(title="Parabolic Stop", shorttitle="StopAR", overlay=true)
start = input(0.02)
increment = input(0.05)
maximum = input(0.2)
sar = sar(start, increment, maximum)
length = input(20)
smaclose= sma(close, 3*length)
smahigh = sma(high, 3*length)
smalow = sma(low, 3*length)
mult = input(4)
atr_ = atr(length)
max1 = max(nz(max_[1]), close)
min1 = min(nz(min_[1]), close)
is_uptrend_prev = nz(is_uptrend[1], true)
stop = is_uptrend_prev ? max1 - mult * atr_ : min1 + mult * atr_
vstop_prev = nz(vstop[1])
vstop_prev2 = nz(vstop[2])
vstop1 = is_uptrend_prev ? min(max(vstop_prev, stop), sar): max(min(vstop_prev, stop), sar)
is_uptrend = close - vstop1 >= 0
is_trend_changed = is_uptrend != is_uptrend_prev
max_ = is_trend_changed ? close : max1
min_ = is_trend_changed ? close : min1
vstop = is_trend_changed ? is_uptrend ? max(max_ - mult * atr_, sar) : min(min_ + mult * atr_, sar) : vstop1
p1 = plot(vstop, color = is_uptrend ? aqua : fuchsia, style = line, linewidth=2)
sma = is_uptrend?smaclose : smaclose
p2 = plot(sma, color = white, linewidth=2)
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