Volatility Stop

This is a new version of the classic Volatility Stop originally published in 2014 by admin and written in Pine v1. While the code has evolved, its logic is identical. It is an ATR-based trend detector that can also be used as a stop. It belongs to the same family of indicators as:
• Charles Le Beau's Chandelier Exit,
• Olivier Seban's Super Trend, and
• Sylvain Vervoort's Average True Range Trailing Stop.
Unlike the Chandelier Exit, Volatility Stop will not move against the trend.

This new version is written in Pine v4. The indicator can be used as a chart overlay, like the original. The calculations have been functionalized for easier reuse, so it is now easier to lift the logic out of the script and use it in others.

• 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.
• Same default of length=20 and ATR factor=2 used in the original Volatility Stop .
• 3 alerts: on any trend change, or on changes into up or downtrends only. Alerts should be configured to trigger Once Per Bar Close.

Original version:

Release Notes: Improved behavior in the "Length" first bars of the dataset, until ATR can be calculated. Whereas the original version shows no stops on these first bars, this one will.
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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you are tradingview?? what a joke?
+6 Reply
whoostyle whoostyle
@whoostyle, I found
+1 Reply
TradingView whoostyle
@whoostyle, ) np, and yes, we are the real thing.
+3 Reply
Very good indicator for beginners and professinals too! Tks for share it!
+2 Reply
Thanks for that lovely indicator. Can you simply explain the difference between v-stop and super trend? Because when I apply the same parameters, calculations are different obviously.
how do i calculate this in excel?
Thanks for the cleanest official source!
can i use this on MT4?
Works well. Thanks
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