ATR SL — Indicator by bahadirkisbet

Hi traders,

As you know, ATR trailing stop is very popular indicator. So I decided to make my own one.

The logic is simple.

If the price is above the RMA(src,len), then put a SL at OPEN - ATR value of that time period
otherwise, put a SL at OPEN + ATR value of that time period.

Stay safe ^^

Release Notes:

You now can choose which MA you want for your trend direction. Also you can show the MA.

Both side SL is added in case of taking a position against the trend.

Release Notes:

Typo mistake

Open-source script

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.

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.

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