lmatl

ATR Trailing Stops S/R [LM]

Hello Traders,

I would like to introduce you ATR Trailing Stops S/R . The idea is to look for important levels that are identified by trailing stop line, where it usualy spents a lot of time without any move usualy turns out to be good level for bounces.

Script for atr trailing line is originaly taken from: script made by @dgmoon


It has various setting
Timeframe and atr settings
Show lines
Extend lines
Line count - how many lines will be rendered
Candle count - how many candles has to trailing line spend at the same level
Colors - controls color of plot and lines

I hope you will enjoy it, as I enjoyed to write it.

Lukas




Release Notes: Changing default setting for early detection of trend
Release Notes: version 5 update

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.

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