Hello traders
Here we go again.... with another strategy snippet.
Reminder: it's an alternative of this Trailing Stop strategy script
Entry logic
The entry is based on a Simple Moving Averages ( SMA ) cross.
This part doesn't matter here - as I wanted to focus on the ATR multiple stop loss component.
ATR STOP
This strategy snippet uses an entry stop loss defined based on a multiple of the average true range value.
The soure code detects ATR value at entry price, applies the multiplier and will set a static (= non trailing) stop-loss to each position
A pinescript v4 label will appear for each new signal displaying the ATR*multiplier value at signal time
All the BEST
Dave
Here we go again.... with another strategy snippet.
Reminder: it's an alternative of this Trailing Stop strategy script
Entry logic
The entry is based on a Simple Moving Averages ( SMA ) cross.
This part doesn't matter here - as I wanted to focus on the ATR multiple stop loss component.
ATR STOP
This strategy snippet uses an entry stop loss defined based on a multiple of the average true range value.
The soure code detects ATR value at entry price, applies the multiplier and will set a static (= non trailing) stop-loss to each position
A pinescript v4 label will appear for each new signal displaying the ATR*multiplier value at signal time
All the BEST
Dave
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⏩ Signals/Pricing: https://best-trading-indicator.com/pages/pricing
🐦 Twitter: https://twitter.com/bti_trading
👉 Get a $30 discount on TradingView: https://bit.ly/2UM5OA0
📺 Youtube: https://bit.ly/3bKvnZu