Hidden Average True Range

Litecoin / U. S. DollarKraken

Description

⋅ Feb 15, 2019 4:19 AM

Script to help you find appropriate stop placement

ATR of Time frame you are in (HTF are better) * 1.55 = x

if short : x + close = STOP
of long : x - close = STOP

Release Notes

⋅ Feb 15, 2019 10:58 AM

noticed a scripting and display error!

Release Notes

⋅ Feb 21, 2019 8:51 PM

Less variables more concrete settings
One may change the period to 25 but 14 is standard :)

Release Notes

⋅ Aug 4, 2020 12:57 AM

Due to chart viewing errors i moved the ATR to its own pane.

Same idea

Stops is the ATR +/- the close !

Average True Range (ATR)moneymanagement

Comments

SatoshiHeavy

⋅ Feb 15, 2019 8:37 AM

Make sure to click the little "+" in the upper right hand corner to display the Hidden ATR value !
the value is in CYAN

for the best results you want to wait til the last moments of candle close
if you use this idea when a candle is newly forming the ATR will be thrown off as PA has yet to develop

this idea/strategy is best suited for timeframes H4+

SatoshiHeavy

⋅ Feb 15, 2019 8:38 AM

@SatoshiHeavy, UPPER LEFT
and you must go to settings and click "display indicator values"