Trailing ATR Stops

This script plots a trailing stop of the ATR multiplied by a user-defined number. Since it is meant to be used as a trailing stop, the value doesn't fluctuate with the price as a normal ATR indicator does, but stays fixed unless price moves away from it. In that case it follows the price. If price crosses the stop level, it resets itself based on current price and starts trailing all over again.

User Settings:

Support - Use for a trailing stop while long
Resistance - Use for a trailing stop while short
Both - Acts like a channel and can spot periods of lower volatility

릴리즈 노트

Giving additional credit to SimpleCryptoLife as it seems like some of the code is similar to one of his indicators. Was an unintentional omission.

오픈 소스 스크립트

In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.

For quick access on a chart, add this script to your favorites — learn more here.