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ChamodSachin

PluePhantom's Trailing Stop Loss Multiple of ATR

ChamodSachin  
Average True Range (ATR)
20
0
averagetruerange
This is a simple trailing stop loss line for long and short positions, made by Bluephantom using PS v2. I converted it onto v5

It is calculated as a multiple of the ATR instead of a percentage.

You are able to change the multiple and the ATR length.

It can be used as a guide to where you should consider putting in your stop loss on a trade and to where you should move your stop loss to as the days go by.

This indicator is experimental. Use at your own risk.
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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