OPEN-SOURCE SCRIPT
ATR Stop Loss Finder (Strict Breakout Mode)
Title: ATR Stop Loss Finder (Strict Breakout Mode)
Description:
Volatility-Based Risk Management: Generates dynamic trailing stop-loss lines for both Long (Lower Line) and Short (Upper Line) positions based on ATR volatility.
Strict Breakout Detection: Features a unique "Strict Breakout" logic that highlights trend acceleration. It visually marks whenever the Long SL breaks a historical high or the Short SL breaks a historical low over a user-defined lookback period (e.g., 50 bars).
Visual Signals: Automatically plots Red Circles for bullish SL breakouts (New Highs) and Blue Circles for bearish SL breakdowns (New Lows), making strong momentum shifts easy to spot.
Real-Time Dashboard: Includes an informative table displaying current ATR and SL price levels for quick reference.
Description:
Volatility-Based Risk Management: Generates dynamic trailing stop-loss lines for both Long (Lower Line) and Short (Upper Line) positions based on ATR volatility.
Strict Breakout Detection: Features a unique "Strict Breakout" logic that highlights trend acceleration. It visually marks whenever the Long SL breaks a historical high or the Short SL breaks a historical low over a user-defined lookback period (e.g., 50 bars).
Visual Signals: Automatically plots Red Circles for bullish SL breakouts (New Highs) and Blue Circles for bearish SL breakdowns (New Lows), making strong momentum shifts easy to spot.
Real-Time Dashboard: Includes an informative table displaying current ATR and SL price levels for quick reference.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.