OPEN-SOURCE SCRIPT
WAHIDAL ATR
This TradingView script calculates the Average True Range (ATR) and uses it to determine a stop percentage based on a user-defined multiplier. The ATR is a popular volatility indicator that measures the degree of price movement over a given period, providing insight into market volatility.
Key Features:
ATR Calculation:
The script calculates the Average True Range over a specified period (default is 14 days).
It calculates the ATR as a percentage of the opening price, offering a normalized measure of volatility.
Stop Percentage:
The script then multiplies the ATR percentage by a user-defined multiplier to compute a stop percentage. This is useful for setting dynamic stop-loss levels based on market volatility.
Customizable Inputs:
Users can customize the ATR period length and the multiplier to tailor the indicator to their specific trading strategy.
Visual Outputs:
The ATR percentage is plotted in orange, while the stop percentage is plotted in red, providing a clear visual representation of both metrics on the chart.
This indicator is useful for traders looking to assess market volatility and establish stop-loss levels that adapt to changing market conditions.
Key Features:
ATR Calculation:
The script calculates the Average True Range over a specified period (default is 14 days).
It calculates the ATR as a percentage of the opening price, offering a normalized measure of volatility.
Stop Percentage:
The script then multiplies the ATR percentage by a user-defined multiplier to compute a stop percentage. This is useful for setting dynamic stop-loss levels based on market volatility.
Customizable Inputs:
Users can customize the ATR period length and the multiplier to tailor the indicator to their specific trading strategy.
Visual Outputs:
The ATR percentage is plotted in orange, while the stop percentage is plotted in red, providing a clear visual representation of both metrics on the chart.
This indicator is useful for traders looking to assess market volatility and establish stop-loss levels that adapt to changing market conditions.
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.