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  • ATR Trailing Stops With Arrow

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    melissial20
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    This document describes a TradingView script that plots an Average True Range (ATR) trailing stop indicator with colored arrows. It calculates the ATR over a user-specified period and multiplier, and uses this value to determine trailing stop levels. Plotted lines change color (red or green) depending on the direction of the trend/position. Buy and sell signals are also plotted as colored up/down arrows below/above the bars when the close crosses the trailing stop levels.

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    ATR Trailing Stops with Arrow

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    This document describes a TradingView script that plots an Average True Range (ATR) trailing stop indicator with colored arrows. It calculates the ATR over a user-specified period and multiplier, and uses this value to determine trailing stop levels. Plotted lines change color (red or green) depending on the direction of the trend/position. Buy and sell signals are also plotted as colored up/down arrows below/above the bars when the close crosses the trailing stop levels.

    Copyright:

    © All Rights Reserved
    Download as TXT, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    10 views1 page

    ATR Trailing Stops With Arrow

    Uploaded by

    melissial20
    This document describes a TradingView script that plots an Average True Range (ATR) trailing stop indicator with colored arrows. It calculates the ATR over a user-specified period and multiplier, and uses this value to determine trailing stop levels. Plotted lines change color (red or green) depending on the direction of the trend/position. Buy and sell signals are also plotted as colored up/down arrows below/above the bars when the close crosses the trailing stop levels.

    Copyright:

    © All Rights Reserved
    Download as TXT, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    -- https://www.tradingview.

    com/script/VP32b3aR-Average-True-Range-Trailing-Stops-
    Colored/
    instrument { name = "ATR Trailing Stops with Arrow", overlay = true,
    icon="indicators:ATR" }
    period = input (14, "front.period", input.integer, 1 )
    multiplier = input (2, "front.newind.multiplier", input.double, 1 )
    high_low = input (false, "HighLow", input.boolean)
    input_group {
    "front.newind.colors",
    up = input { default = "#2CAC40", type = input.color },
    down = input { default = "#DB4931", type = input.color },
    width = input { default = 1, type = input.line_width }
    }
    atr = rma (tr, period) * multiplier
    h = iff (high_low, high, close)
    l = iff (high_low, low, close)
    atr_ts = iff(close > nz(atr_ts[1], 0) and close[1] > nz(atr_ts[1], 0),
    max(nz(atr_ts[1]), h - atr),
    iff(close < nz(atr_ts[1], 0) and close[1] < nz(atr_ts[1], 0), min(nz(atr_ts[1]), l
    + atr),
    iff(close > nz(atr_ts[1], 0), h - atr, l + atr)))
    pos = iff(close[1] < nz(atr_ts[1], 0) and close > nz(atr_ts[1], 0), 1,

    iff(close[1] > nz(atr_ts[1], 0) and close < nz(atr_ts[1], 0), -1, nz(pos[1], 0)))
    plot (atr_ts, "", pos < 0 and down or up , width)

    buy = iff(close[1] < nz(atr_ts[1]) and close > nz(atr_ts[1]), true , false)
    sell = iff(close[1] > nz(atr_ts[1]) and close < nz(atr_ts[1]), true , false)

    plot_shape((buy == true), "buy", shape_style.triangleup, shape_size.large,


    "green",shape_location.belowbar, 0, "BUY","green")
    plot_shape((sell ==
    true),"sell",shape_style.triangledown,shape_size.large,"red",shape_location.aboveba
    r, 0, "SELL", "red")

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