OPEN-SOURCE SCRIPT
AWC-ATR-AYNET
Summary of the Script
The script calculates and plots a dynamic stop-loss level based on a modified ATR (Average True Range). This stop level adapts to market volatility and price action, providing traders with potential trailing stop levels or trend-following guidance.
Key Features
Dynamic Stop Calculation:
The stop level (c1) is determined based on the ATR and user-defined parameters for period, multiplier, and adjustment (p, m, and a).
The stop switches dynamically between a support (below the price) and resistance (above the price) level.
Color-Coded Visualization:
The stop line is color-coded:
Green: When the stop is below the price (bullish trend).
Red: When the stop is above the price (bearish trend).
Inputs:
p: ATR period for volatility measurement.
m: Multiplier to adjust the stop distance.
a: Fine-tuning factor for the stop calculation.
Plotting:
The calculated stop level is plotted on the chart with dynamic colors and adjustable thickness.
Alerts:
Alerts are triggered when the price crosses the stop level:
Uptrend Alert: When the stop moves below the price.
Downtrend Alert: When the stop moves above the price.
Use Case
Trailing Stop:
Traders can use the stop level as a trailing stop-loss for long or short trades.
Trend Confirmation:
The color-coded stop level helps visually confirm whether the market is in an uptrend or downtrend.
This script provides an adaptive stop-loss strategy that dynamically adjusts to price movement and volatility, making it useful for traders looking to minimize risk or follow trends.
The script calculates and plots a dynamic stop-loss level based on a modified ATR (Average True Range). This stop level adapts to market volatility and price action, providing traders with potential trailing stop levels or trend-following guidance.
Key Features
Dynamic Stop Calculation:
The stop level (c1) is determined based on the ATR and user-defined parameters for period, multiplier, and adjustment (p, m, and a).
The stop switches dynamically between a support (below the price) and resistance (above the price) level.
Color-Coded Visualization:
The stop line is color-coded:
Green: When the stop is below the price (bullish trend).
Red: When the stop is above the price (bearish trend).
Inputs:
p: ATR period for volatility measurement.
m: Multiplier to adjust the stop distance.
a: Fine-tuning factor for the stop calculation.
Plotting:
The calculated stop level is plotted on the chart with dynamic colors and adjustable thickness.
Alerts:
Alerts are triggered when the price crosses the stop level:
Uptrend Alert: When the stop moves below the price.
Downtrend Alert: When the stop moves above the price.
Use Case
Trailing Stop:
Traders can use the stop level as a trailing stop-loss for long or short trades.
Trend Confirmation:
The color-coded stop level helps visually confirm whether the market is in an uptrend or downtrend.
This script provides an adaptive stop-loss strategy that dynamically adjusts to price movement and volatility, making it useful for traders looking to minimize risk or follow trends.
Script open-source
In pieno spirito TradingView, l'autore di questo script lo ha pubblicato open-source, in modo che i trader possano comprenderlo e verificarlo. Un saluto all'autore! È possibile utilizzarlo gratuitamente, ma il riutilizzo di questo codice in una pubblicazione è regolato dal nostro Regolamento. Per aggiungerlo al grafico, mettilo tra i preferiti.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.