ATR-Based Dynamic Stop Loss (Displays on Price Scale)

3 gün önce

This indicator calculates a dynamic stop loss based on the Average True Range (ATR) and displays it directly on the price scale.

🔹 Key Features:
✅ Stop loss updates automatically with price movement.
✅ Visible on the price scale for easy reference.
✅ Uses ATR multiplier for flexible stop loss adjustment.
✅ Works across all timeframes & assets.

📌 How It Works:

The script calculates ATR (Average True Range) over a user-defined period.
The stop loss is set at (Close - ATR * Multiplier).
The value updates dynamically and appears on the right-side price scale.
🔧 Settings:

ATR Length: Defines the calculation period.
Multiplier: Adjusts the distance of the stop loss from the price.
💡 Best Use Case:

Helps traders manage risk efficiently.
Ideal for trend-following & volatility-based stop loss strategies.
🚀 How to Use:
1️⃣ Add the script to your chart.
2️⃣ Adjust ATR length & multiplier as needed.
3️⃣ Monitor the stop loss value on the price scale.

3 gün önce

Sürüm Notları

This indicator calculates a dynamic stop loss based on the Average True Range (ATR) and displays it directly on the price scale.

🔹 Key Features:
✅ Stop loss updates automatically with price movement.
✅ Visible on the price scale for easy reference.
✅ Uses ATR multiplier for flexible stop loss adjustment.
✅ Works across all timeframes & assets.

📌 How It Works:

The script calculates ATR (Average True Range) over a user-defined period.
The stop loss is set at (Close - ATR * Multiplier).
The value updates dynamically and appears on the right-side price scale.
🔧 Settings:

ATR Length: Defines the calculation period.
Multiplier: Adjusts the distance of the stop loss from the price.
💡 Best Use Case:

Helps traders manage risk efficiently.
Ideal for trend-following & volatility-based stop loss strategies.
🚀 How to Use:
1️⃣ Add the script to your chart.
2️⃣ Adjust ATR length & multiplier as needed.
3️⃣ Monitor the stop loss value on the price scale.