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scolilay

DD ATR bands

scolilay  
Volatility stoploss
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volatility stoploss
The top band is ATR added to candle high (with given length and multiplication). The bottom one is analogic.

Created for finding initial stop loss for entry on low timeframes. Use band value at last major high/low to place the stop loss at.
It shows prices with acceptable risk and a reasonable margin for market volatility.
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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