This library exports a Band type and functions that build a simple-moving-average basis with upper and lower envelopes from standard deviation. It classifies a source as above, below, or inside those envelopes, measures band width, and scales an imported z-sco
Library · Pine Script v6 · Library
CodonATRStop
This library exports a function that returns a dynamic trailing stop price based on Average True Range.
GitHub stars1on the repository
Pine versionv6current
Lines of code30
Settings0inputs
LicenceMIT
Last update10 months ago29 Dec 2025
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above, or the copy button on the code below.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new library, select all of the template text and paste. Press Save and give it a name.
- 4Publish or import itA library draws nothing. Publish it from the editor, then import its functions in your own scripts.
Source Code
30 lines of Pine Script v6 from Codon_ATR_Stop.pine, published under MIT. Keep the author's credit and licence lines when you reuse it.
// 🧬 Generated by Codon.pro | The AI Pine Script Builder
// Module: ATR Trailing Stop Logic
// Description: Returns the dynamic trailing stop price based on ATR.
//@version=6
library("CodonATRStop", overlay=true)
// @function Calculates Chandelier/ATR Trailing Stop level
// @param length ATR Period (e.g., 14)
// @param mult ATR Multiplier (e.g., 3.0)
// @param isLong Boolean, true for Long logic, false for Short logic
// @returns float The trailing stop price level
export getStopLevel(int length, float mult, bool isLong) =>
float atr = ta.atr(length)
float stopLevel = na
if isLong
float proposed = close - (atr * mult)
stopLevel := na(stopLevel[1]) ? proposed : math.max(stopLevel[1], proposed)
// Reset if price dips below
if close < stopLevel[1]
stopLevel := proposed
else
float proposed = close + (atr * mult)
stopLevel := na(stopLevel[1]) ? proposed : math.min(stopLevel[1], proposed)
// Reset if price goes above
if close > stopLevel[1]
stopLevel := proposed
stopLevel
Overview
For longs it subtracts an ATR multiple from the close and ratchets the level upward, resetting the stop when price closes below the previous level. For shorts it adds the ATR multiple and ratchets the level downward, resetting when price closes above the previous level. Callers supply the ATR length, multiplier, and direction. It does not place orders, size positions, or draw plots itself.
- Chandelier ATR trailing stop
- Long and short stop modes
- ATR length and multiplier parameters
- Ratcheting level that resets on a breach
Details
Published by
codon-pro on GitHub
Type
Library, Pine Script v6
Draws
Library (no plots)
Category
Volatility & bands
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
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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