ATR Stop-Loss & Targets

Apr 13

ATR and Supertrend-based SL/TP & Trailing System

This indicator combines Average True Range (ATR) and Supertrend logic to help traders define precise stop-loss, first target, and trailing stop-loss (TSL) levels.

⚙️ Key Features:
📏 ATR-based Stop-Loss & Target Lines:

Uses ATR (default period: 5) based on the previous day's candle for more stable risk management.

• Traders can choose the price source: Close, Open, or enter a manual price.
  
• SL and first target are calculated using multipliers:
  

Multiplier 1 = Stop Loss

Multiplier 2 = First Target

• 📉 Supertrend for Trailing Stop:
  
• Built-in Supertrend logic for trailing stop-loss management.
  

Uses ATR(10) with a multiplier of 2.1, based on HL2.

Supertrend can be toggled ON/OFF from the settings.

Apr 26

Release Notes

Overview: This free indicator combines ATR-based Stop Loss and Targets with a Supertrend-based Trailing Stop Loss, giving traders an all-in-one system for defining their risk, entry size, and managing trailing exits automatically.

It is designed to help traders quickly determine:

1. Optimal Stop-Loss and Target levels based on volatility (ATR)
   
2. Correct position size based on maximum loss they can afford
   
3. Dynamic trailing stop-loss using a Supertrend
   

⚙️ How It Works:
1️⃣ ATR-Based Stop-Loss and Target Levels

• The indicator calculates ATR (Average True Range) with a default period of 5.
  
• You can choose if ATR is calculated based on the current candle or the previous candle.
  
• Two multipliers are applied:
  

• Multiplier 1: For Stop-Loss
  
• Multiplier 2: For First Target
  

Input Options Available:

• Price Source: Choose from Close, Open, or manually enter a custom price. Default value is Close
  
• ATR Source Candle: Select Current or Previous. Default is Previous candle
  
• ATR Period: Default is 5 (modifiable).
  
• Multipliers: Set your desired levels for Stop-Loss and Target individually.
  

✨ Visualization:

• Horizontal lines are drawn for both Stop-Loss and First Target levels.
  
• Color and style of the lines are customizable (solid, dashed, dotted).
  
• Labels at the end of each line show exact price values.
  

2️⃣ Maximum Loss Control (Position Size Calculation)

• You can input a Max Loss Amount (default: 10,000).
  
• The system automatically calculates:
  

• Risk per share = difference between entry price and stop-loss.
  
• Position Size = (Max Loss) ÷ (Risk per share).
  
• Actual Calculated Loss = (Position Size × Risk per share).
  

✨ Visualization:

• A floating label below the candles displays:
  
• Position Size (rounded to nearest whole number)
  
• Actual Calculated Loss (based on real size, not estimation)
  
• Toggle ON/OFF the label using settings.
  

3️⃣ Supertrend Trailing Stop-Loss

• Built-in Supertrend using:
  

ATR Period = 10
ATR Multiplier = 2.1
Source = HL2 (High + Low / 2)

• You can choose to:
  

Enable or disable Supertrend
Highlight background based on trend direction
Show Buy/Sell Signals

• Alerts are available when Supertrend switches direction.
  

✨ Visualization:

• Uptrend = Green Supertrend Line
  
• Downtrend = Orange Supertrend Line
  
• Optional: Highlight background colors depending on trend.
  

Apr 26

Release Notes

Overview: This free indicator combines ATR-based Stop Loss and Targets with a Supertrend-based Trailing Stop Loss, giving traders an all-in-one system for defining their risk, entry size, and managing trailing exits automatically.

It is designed to help traders quickly determine:

1. Optimal Stop-Loss and Target levels based on volatility (ATR)
   
2. Correct position size based on maximum loss they can afford
   
3. Dynamic trailing stop-loss using a Supertrend
   

⚙️ How It Works:
1️⃣ ATR-Based Stop-Loss and Target Levels

• The indicator calculates ATR (Average True Range) with a default period of 5.
  
• You can choose if ATR is calculated based on the current candle or the previous candle.
  
• Two multipliers are applied:
  

• Multiplier 1: For Stop-Loss
  
• Multiplier 2: For First Target
  

Input Options Available:

• Price Source: Choose from Close, Open, or manually enter a custom price. Default value is Close
  
• ATR Source Candle: Select Current or Previous. Default is Previous candle
  
• ATR Period: Default is 5 (modifiable).
  
• Multipliers: Set your desired levels for Stop-Loss and Target individually.
  

✨ Visualization:

• Horizontal lines are drawn for both Stop-Loss and First Target levels.
  
• Color and style of the lines are customizable (solid, dashed, dotted).
  
• Labels at the end of each line show exact price values.
  

2️⃣ Maximum Loss Control (Position Size Calculation)

• You can input a Max Loss Amount (default: 10,000).
  
• The system automatically calculates:
  

• Risk per share = difference between entry price and stop-loss.
  
• Position Size = (Max Loss) ÷ (Risk per share).
  
• Actual Calculated Loss = (Position Size × Risk per share).
  

✨ Visualization:

• A floating label below the candles displays:
  
• Position Size (rounded to nearest whole number)
  
• Actual Calculated Loss (based on real size, not estimation)
  
• Toggle ON/OFF the label using settings.
  

3️⃣ Supertrend Trailing Stop-Loss

• Built-in Supertrend using:
  

ATR Period = 10
ATR Multiplier = 2.1
Source = HL2 (High + Low / 2)

• You can choose to:
  

Enable or disable Supertrend
Highlight background based on trend direction
Show Buy/Sell Signals

• Alerts are available when Supertrend switches direction.
  

✨ Visualization:

• Uptrend = Green Supertrend Line
  
• Downtrend = Orange Supertrend Line
  
• Optional: Highlight background colors depending on trend.