ATR Stop Loss v4
This indicator plots the current ATR value, and the Long and Short stop losses. Watch the indicator and move your stop loss to the Long or Short as necessary.
Unlike other ATR indicators this one allows the user to customize the table placement of the ATR calculations, and the colors of each row on the table, and the text. The ATR factors can also be edited.
Unlike other ATR indicators this one allows the user to customize the table placement of the ATR calculations, and the colors of each row on the table, and the text. The ATR factors can also be edited.
Versionsinformation:
So a couple of big changes for this Indicator.
1) Originally when I built this indicator, it displayed a long string of decimals out to 10 places that filled the entire screen, so I used the math.round() function to round the decimals out to two decimal places. While this worked for the time, if that ATR is small (less than .15 cents or so), it can produce significant round errors. Because precision is more important for an ATR, I recoded the script to only display the first two decimal places, this introduces a more precise number.
2) I changed the default multiplier to 1.5 to be in line with commonly used ATR calculations. They typical multiplier is usually somewhere between 1.5 to 2. But you can set the value to anything you choose.
1) Originally when I built this indicator, it displayed a long string of decimals out to 10 places that filled the entire screen, so I used the math.round() function to round the decimals out to two decimal places. While this worked for the time, if that ATR is small (less than .15 cents or so), it can produce significant round errors. Because precision is more important for an ATR, I recoded the script to only display the first two decimal places, this introduces a more precise number.
2) I changed the default multiplier to 1.5 to be in line with commonly used ATR calculations. They typical multiplier is usually somewhere between 1.5 to 2. But you can set the value to anything you choose.
Versionsinformation:
Updated the chart preview. Does not effect the chart.
Versionsinformation:
Just a visual update to the chart preview screen. My old screens were muddied with lots of indicators, and I wanted people to clearly see what indicator they were adding.
Versionsinformation:
This is a significant upgrade of the trailing stop loss indicator with some enhancements that can be disabled.
First, there is a new row that shows the Trailing Stop Loss if you want to use the indicator as a Trailing Stop instead of specific long and short values.
Second, the rounding function has been updated for decimals again for rounding accuracy.
Third, the indicator also charts the long and short lines on the chart. These can be disabled.
Cheers!
First, there is a new row that shows the Trailing Stop Loss if you want to use the indicator as a Trailing Stop instead of specific long and short values.
Second, the rounding function has been updated for decimals again for rounding accuracy.
Third, the indicator also charts the long and short lines on the chart. These can be disabled.
Cheers!