1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
Average True Range Stop Loss Finder smooths true range with a selectable moving average, multiplies it by a factor, and adds that distance to the high and subtracts it from the low. The upper plot is labeled as a short stop and the lower plot as a long stop. A bottom table shows the ATR distance and both stop prices on the last bar. Length, smoothing method, multiplier, sources, colors, and optional price lines are adjustable. It does not place trades or exits.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Length
int
14
length
Smoothing
string
RMA
smoothing
Multiplier
float
1.5
m
src1
source
high
src1
src2
source
low
src2
Show Price Lines
bool
true
pline
ATR Text Color
color
color.blue
col1
Low Text Color
color
color.teal
col2
High Text Color
color
color.red
col3
Low Line Color
color
color.teal
collong
High Line Color
color
color.red
colshort
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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