[TTI] ATR Trailing Stop Alerts

2023년 4월 15일

––––HISTORY & CREDITS 🏦
The [TTI] Trailing Stop Alert is a TradingView indicator developed by TintinTrading, which is designed to help traders manage their positions by updating and alerting them about their trailing stop levels. This tool is a valuable addition to a trader's arsenal, as it automates the process of maintaining trailing stop levels and alerts the user when they are updated or hit.

––––WHAT IT DOES 💡
The [TTI] Trailing Stop Alert indicator calculates trailing stop levels based on the Average True Range (ATR) of an asset over a specified lookback period. It takes user inputs for trail type (Long or Short), lookback period, ATR length, ATR multiplier, and bar time. The indicator can be applied to any financial instrument and will dynamically update the trailing stop level based on price action. When the trailing stop level is updated or hit, the indicator generates alerts to inform the user of these events.

––––HOW TO USE IT 🔧
1. Add the [TTI] Trailing Stop Alert indicator to your TradingView chart.
2. Configure the settings according to your preferred parameters:
👉Trail Type: Choose between "Long" or "Short" based on your trading position.
👉Lookback: Set the number of bars to look back for determining the highest high or lowest low.
👉ATR Length: Set the period for calculating the Average True Range.
👉ATR Multiplier: Set the multiplier to adjust the trailing stop distance.
👉Bar Time: Set the time at which the indicator starts updating the trailing stop levels.
3. The indicator will plot the trailing stop level on the chart, and update it as the price action unfolds.
4. When the trailing stop level is updated or hit, you will receive an alert in the form of a message with the new level or a notification that the stop has been hit.
5. Adjust your stop loss orders accordingly based on the trailing stop levels provided by the indicator.

By using the [TTI] Trailing Stop Alert indicator, you can effectively manage your positions and reduce the risk of giving back profits in a trade.