ATR-Stop-Moon

ATR-Stop-Moon — ATR-Based Stop Indicator
The ATR-Stop-Moon is a visual indicator designed to help identify automatic dynamic stop-loss levels based on price volatility. It uses the Average True Range (ATR), a classic volatility metric, to define safe exit zones for both long and short positions.

How It Works
Long Stop-Loss (green): Represents the suggested stop level for buy trades.
Formula: close - (ATR × Multiplier)

Short Stop-Loss (red): Represents the suggested stop level for sell trades.
Formula: close + (ATR × Multiplier)

The ATR measures asset volatility. Thus, the more volatile the market, the wider the stops.

Visual Elements
Colored Lines:

Green: Stop-loss for long positions.

Red: Stop-loss for short positions.

Labels:
Display the percentage distance between the current price and the stop.
Example: "PL: 1.25%" means the long stop is 1.25% below the current price.

You can enable or disable labels in the settings.

Customizable Background:
Allows changing the chart background color with configurable offset — useful for aesthetic purposes or visual highlighting.

Customizable Parameters
Parameter Description
ATR Period Number of candles used in ATR calculation. Higher values smooth the stop.
ATR Multiplier Multiplier applied to ATR to set stop distance. Higher means wider stops.
Label Size Label size displayed on the chart: XS (extra small), S (small), M (medium), L (large).
Label Offset Number of candles ahead where labels are positioned.
Show Stop Percentage Enables or disables percentage display on labels.
Background Color Chart background color, can be used for visual emphasis.
Background Offset Offset applied to the background, useful to highlight specific historical areas.
Long/Short Label Colors Customization of label colors for long and short stops.

Usage Suggestions
Combine ATR-Stop-Moon with trend indicators (e.g., moving averages, Supertrend) to filter trades.

Use dynamic stops as a reference for trailing stops (adjust as price moves in favor of the position).

Adjust the ATR multiplier according to asset volatility or your risk profile.

Copyright
Original indicator created by Canhoto-Medium.
This script is protected to preserve order, respect authorship, and prevent plagiarism or unauthorized copying.