ATRTrailingStop

Description

The ATR Trailing Stop study plots the trailing stop value, the calculation of which depends on the specified trail type.

If the trail type is "unmodified", this value is calculated as the Average True Range (ATR) over the defined period multiplied by the specified factor.

If the trail type is "modified", calculation mechanism involves using a long-period moving average, minimizing gaps between adjacent bars, and smoothing out sharp surges of price.

Input Parameters

Parameter Description
trail type Defines whether to use "modified" or "unmodified" trailing stop calculation mechanism.
atr period The number of bars used to calculate the Average True Range.
atr factor The multiplier of the ATR value.
first trade Defines whether to initialize ATR calculation at a short or a long position.

average type

The type of moving average to be used in calculations: simple, exponential, weighted, Wilder's, or Hull.

Plots

Plot Description
TrailingStop The ATR Trailing Stop plot.

Example*

*For illustrative purposes only. Not a recommendation of a specific security or investment strategy.

  Past performance is no guarantee of future performance.

You may also like
MomentumPercentDiff
The Momentum Percent Diff is a momentum-based technical indicator. Unlike the regular Momentum ...
thinkScript®: Q&A
What is thinkScript®? thinkScript® is a built-in programming language that gives you the ...
SlowRSI
The Slow Relative Strength Index is a version of the classic Relative Strength Index (RSI), ...