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Takazudo

ATR trailing Stop Loss tight to slack [Takazudo]

Takazudo Updated   
Average True Range (ATR) stoploss trailingstop
152
6
averagetruerange stoploss trailingstop
This is a demo of ATR based trailing Stop Loss.

This SL strategy uses 2 types of ATR based SL.

  • tight SL as initial (ATR * 1.5)
  • slack SL as trailing (ATR * 4)

When any entry singal occurs by the buy/sell conditions, this SL strategy uses the "tight SL" as the initial SL.

Then the SL will chase the price as trailing SL. However, this strategy uses the "slack SL" in this trailing phase.

So you can set the tight SL first.
Then SL will chase the price as the slack one.

Note: The entry strategy in this script is not intented to win. Check the result. Be careful. Just a module of my strategy.
Release Notes:
updated PineScript version 4 to 5
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.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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