ATR Trailing Stop Strategy by ceyhun

// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © ceyhun
//@version=4
strategy("ATR Trailing Stop Strategy by ceyhun", overlay=true)
/////////notes////////////////////////////////////////
// This is based on the ATR trailing stop indicator //
// width addition of two levels of stops and        //
// different interpretation.                        //
// This is a fast-reacting system and is better     //
// suited for higher volatility markets             //
//////////////////////////////////////////////////////
SC = input(close, "Source", input.source)
// Fast Trail //
AP1 = input(5, "Fast ATR period", input.integer)  // ATR Period
AF1 = input(0.5, "Fast ATR multiplier", input.float)  // ATR Factor
SL1 = AF1 * atr(AP1)  // Stop Loss
Trail1 = 0.0
Trail1 := iff(SC > nz(Trail1[1], 0) and SC[1] > nz(Trail1[1], 0), max(nz(Trail1[1], 0), SC - SL1), iff(SC < nz(Trail1[1], 0) and SC[1] < nz(Trail1[1], 0), min(nz(Trail1[1], 0), SC + SL1), iff(SC > nz(Trail1[1], 0), SC - SL1, SC + SL1)))
// Slow Trail //
AP2 = input(10, "Slow ATR period", input.integer)  // ATR Period
AF2 = input(3, "Slow ATR multiplier", input.float)  // ATR Factor
SL2 = AF2 * atr(AP2)  // Stop Loss
Trail2 = 0.0
Trail2 := iff(SC > nz(Trail2[1], 0) and SC[1] > nz(Trail2[1], 0), max(nz(Trail2[1], 0), SC - SL2), iff(SC < nz(Trail2[1], 0) and SC[1] < nz(Trail2[1], 0), min(nz(Trail2[1], 0), SC + SL2), iff(SC > nz(Trail2[1], 0), SC - SL2, SC + SL2)))
// Bar color for trade signal //
Green = Trail1 > Trail2 and close > Trail2 and low > Trail2
Blue = Trail1 > Trail2 and close > Trail2 and low < Trail2
Red = Trail2 > Trail1 and close < Trail2 and high < Trail2
Yellow = Trail2 > Trail1 and close < Trail2 and high > Trail2
// Signals //
Bull = barssince(Green) < barssince(Red)
Bear = barssince(Red) < barssince(Green)
Buy = crossover(Trail1, Trail2)
Sell = crossunder(Trail1, Trail2)
TS1 = plot(Trail1, "Fast Trail", style=plot.style_line,color=Trail1 > Trail2 ? color.blue : color.yellow, linewidth=2, display=display.none)
TS2 = plot(Trail2, "Slow Trail", style=plot.style_line,color=Trail1 > Trail2 ? color.green : color.red, linewidth=2)
fill(TS1, TS2, Bull ? color.new(color.green,90) : color.new(color.red,90))
plotcolor = input(true, "Paint color on chart", input.bool)
bcl = iff(plotcolor == 1, Blue ? color.blue : Green ? color.lime : Yellow ? color.yellow : Red ? color.red : color.white, na)
barcolor(bcl)
if Buy
    strategy.entry("Buy", strategy.long, comment="Buy")
    
if Sell
    strategy.entry("Sell", strategy.short, comment="Sell")
Expand (59 lines)