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Volatility Stop MTF

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This is a multi-timeframe version of our Volatility Stop, an ATR-based trend detector that can be used as a stop.

► Timeframe selection
The higher timeframe can be selected using 3 different ways:
• By steps (60 min., 1D, 3D, 1W, 1M, 1Y).
• As a multiple of the current chart's resolution, which can be fractional, so 3.5 will work.
• Fixed.
Note that you can also use this indicator without the higher timeframe functionality. It will then behave as our normal Volatility Stop would.

► Stop breaches
Two modes of stop-breaching logic can be selected.
• In the default, Early Breach mode, the stop is considered breached when a bar at the chart's current resolution breaches the higher timeframe stop.
• You may also choose to calculate breaches on the higher timeframe information only.

Choosing the Early Breach mode has the advantage of generating faster exits. It will create a state of limbo where the stop has been breached but the Volatility Stop trend has not yet reversed. The impact of detecting earlier exits to minimize losses comes, as is usually the case, at the cost of a compromise: if the stop is breached early in a long trend, the indicator will then spend most of that trend in limbo. Sizeable portions of a trend can thus be missed.

A few options are provided when you use Early Breach mode:
• A red triangle can identify early breaches (default).
• You can color bars or the background to identify limbo states.
When in limbo, the color used to plot the indicator's line or shapes will always be darker.

► Alerts
Five pre-defined alerts are supplied:
• #1: On any trend change.
• #2: On changes into an uptrend.
• #3: On changes into a downtrend.
• #4: Only on breaches of the uptrend by the chart's bars (Early Breach mode). Will not trigger on a trend change.
• #5: Only on breaches of the downtrend by the chart's bars (Early Breach mode). Will not trigger on a trend change.
As usual, alerts should be configured to trigger Once Per Bar Close. When creating alerts, you will see a warning to the effect that potentially repainting code is used, even if the indicator's default non-repainting mode is active. The warning is normal.

► Other features
• You can color bars using the indicator's up/down state. When bars are colored, up bars are more brightly colored.
• The HTF line is non-repainting by default, but you can allow it to repaint.
• You can confirm the higher timeframe used by displaying it at a selectable distance from the last bar on the chart.
• Choice of 2 color themes.
• Choice of display as a line, circles, diamonds or arrows. The line can be used with the other shapes. If no line is required, set its thickness to zero.

Enjoy!
Jan 27
Release Notes: Fixed a typo.
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Comments

I want to add a specific time to start and specific time to end the indicator so that if there is a continuation of trend from previous day.. i wont miss the signal..

eg.if the stock is uptrend from yesterday and i decided to enter the market today..there wont be any signal at the start of the market ..please guide me how to code
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beside the concept of the MTF stops - I love who clean and structured the code is :) - thanks for sharing!
more please
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TradingView RedKTrader
@RedKTrader, Thank you! We appreciate.
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How I apply to my chart pls
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@Natostark, Use the Indicators & Strategies button at the top of your chart.
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How can I place it on my chart
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thanks for share
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very awesome
also can use it for enter?
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@whoostyle, You can, but that's for you to decide.
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Thanks for the information
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