It's possible to set how many times the ATR value will be applied to the closing price and
what trade type is used, Long or Short.
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.