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True Range Orginal

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📌 Description – True Range Original
This indicator calculates the range (price spread) of the last N candles and displays it directly on the chart, along with suggested dynamic stop-loss levels based on recent volatility. Ideal for scalpers and day traders working on short timeframes such as 1-minute charts.

🔍 Features:
Calculates the difference between the highest high and lowest low of the last N bars (default: 15).

Plots a floating label with the current range value, updated every 5 candles.

Displays 4 dynamic stop levels:

For long positions:

Stop at 1x range (green line)

Stop at 1.5x range (light green line)

For short positions:

Stop at 1x range (red line)

Stop at 1.5x range (dark red line)

⚙️ Inputs:
Range period (number of bars)

Stop multiplier 1 (default: 1.0)

Stop multiplier 2 (default: 1.5)

📈 Usage:
This tool helps you size your stop-loss dynamically based on recent price action instead of using fixed values. It can be used alone or in combination with other tools like support/resistance, volume, or aggression indicators.
Sürüm Notları
Fix Bugs.

Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.