Volatility Stop

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The Volatility Stop Indicator is able to define the current trend. When a downward trend is determined a red line above the prices bars is plotted; when an upward trend is determined a green line below the prices bars is plotted. These lines are generally used as trailing stops. The Volatility Stop Indicator is more used as an exit tool than an entry tool. When the price crosses the VStop value, the trend reverses and VStop moves to the other side of price.

We'd like to present you VStop indicator written in Pine Script. Please notice new Pine Script features used in this indicator: variables max_, min_, is_uptrend, vstop. We may refer to previous values of the indicator in the source code (e.g. vstop, is a vstop value on the previous bar) before the actual vstop variable definition. Enjoy and leave your comments!
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study("Volatility Stop", shorttitle="VStop", overlay=true)
length = input(20)
mult = input(2)
atr_ = atr(length)
max1 = max(nz(max_[1]), close)
min1 = min(nz(min_[1]), close)
is_uptrend_prev = nz(is_uptrend[1], true)
stop = is_uptrend_prev ? max1 - mult * atr_ : min1 + mult * atr_
vstop_prev = nz(vstop[1])
vstop1 = is_uptrend_prev ? max(vstop_prev, stop) : min(vstop_prev, stop)
is_uptrend = close - vstop1 >= 0
is_trend_changed = is_uptrend != is_uptrend_prev
max_ = is_trend_changed ? close : max1
min_ = is_trend_changed ? close : min1
vstop = is_trend_changed ? is_uptrend ? max_ - mult * atr_ : min_ + mult * atr_ : vstop1
plot(vstop, color = is_uptrend ? green : red, style=cross, linewidth=2) :)
I happened to add a compiler directive "//@version=3" prior to the "study" line and it won't compile.
When I removed the compiler directive, it works!
Just wondering why ... the inquiring mind would like to know ...
Trailing Stops? Over the last 4 months he was quite the "leading" indicator for the top currency pairs, including DYX. Whatever you're doing, do not stop!
what's a strategy for using this ind?
Thank you!!!
+1 Reply
Wasnt vstop already provided in TV for some time as builtin indicator?
+5 Reply
My question as well. What's the difference between this Vstop and the one already built-in to TradingVew?
+5 Reply
@Shepard, the built-in source code isn't available, you can't do any customisation.
Great indicator!

You can spot break out with VStop! <3
+1 Reply
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