HPotter

Average True Range Trailing Stops Colored

Average True Range Trailing Stops Strategy, by Sylvain Vervoort
The related article is copyrighted material from Stocks & Commodities Jun 2009
Remove from Favorite Scripts Add to Favorite Scripts
////////////////////////////////////////////////////////////
//  Copyright by HPotter v2.0 13/10/2014
// Average True Range Trailing Stops Strategy, by Sylvain Vervoort 
// The related article is copyrighted material from Stocks & Commodities Jun 2009 
////////////////////////////////////////////////////////////
study(title="Average True Range Trailing Stops Strategy, by Sylvain Vervoort", overlay = true)
nATRPeriod = input(5)
nATRMultip = input(3.5)
xATR = atr(nATRPeriod)
nLoss = nATRMultip * xATR
xATRTrailingStop = iff(close > nz(xATRTrailingStop[1], 0) and close[1] > nz(xATRTrailingStop[1], 0), max(nz(xATRTrailingStop[1]), close - nLoss),
                    iff(close < nz(xATRTrailingStop[1], 0) and close[1] < nz(xATRTrailingStop[1], 0), min(nz(xATRTrailingStop[1]), close + nLoss), 
                        iff(close > nz(xATRTrailingStop[1], 0), close - nLoss, close + nLoss)))
pos =	iff(close[1] < nz(xATRTrailingStop[1], 0) and close > nz(xATRTrailingStop[1], 0), 1,
	    iff(close[1] > nz(xATRTrailingStop[1], 0) and close < nz(xATRTrailingStop[1], 0), -1, nz(pos[1], 0))) 
color = pos == -1 ? red: pos == 1 ? green : blue 
plot(xATRTrailingStop, color=color, title="ATR Trailing Stop")

DONATE/TIP

BTC: 1Lo1GoTNsPbrjGAgPgF4MYZPhBFdoVHaTm
Hey! Thanks for the script!
Question: Is it repainting?
Reply
HPotter PRO TraderPavlos
@TraderPavlos, You are welcome. Should be.
Reply
Hi thanks for the script, it's very useful!

Is it possible to use it with "//@version=2" parameter?

best regards, Luca
Reply
LucaManghi LucaManghi
Never mind, I have adapted my script, now it works without the "//@version=2".

Thanks again for sharing the script, Luca
Reply
HPotter PRO LucaManghi
You are welcome.
Reply
Hi, Thank you for posting this. I am very new to this concept and wish to ask what may be a stupid question. Here goes anyway:

Example: I have a max risk goal of not to lose more than 2% on any given trade.

1.) How would I set the inputs for this?

I have read some stuff on what is called an Average True Range Dynamic Stop.

2.) Is your script an ATR Dynamic Stop or something else?

Thanks

+1 Reply
HPotter PRO Codetrader
Hi, codetrader
1) I can`t recomendet to you anything. I don`t use this script, I just coding it from magazine Stocks & Commodities Jun 2009. Sorry.

2) This script recalculated on the realtime and make changes in the stoploss level dynamically.
+1 Reply
Codetrader HPotter
Okay, thanks you
Reply
HPotter PRO christopherbrecher
You are welcome.
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out