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
Traders click to set the starting point, with the stop loss trailing dynamically based on price action. It triggers on wick or close breaches of the ATR bands and displays fill areas, shapes, and labels with the current ATR value and status. Optional profit target can be configured as a fixed price or risk-to-reward multiple. The main settings control ATR length, multiplier, source, and display options for fill, shapes, labels, and bands. It draws directly on the price chart for real-time stop loss management.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Start Point
price
0.0
yBarPrice
xBarTime
time
0
xBarTime
Trigger
string
Wick
closeType
Profit Target
bool
false
displayPriceTarget
priceTargetType
string
R:R
priceTargetType
priceTargetMult
float
1.5
priceTargetMult
Display ATR Trailing - Interactive
bool
true
displayTrailATR
Fill
bool
true
fillArea
Shape
bool
true
displayShapes
Label
bool
true
displayLabel
Display ATR Bands
bool
false
displayBandsATR
Length
int
14
length
Show all 26 settings
Setting
Type
Default
Variable
Multiplier
float
3.0
multiplier
MA Type
string
SMMA (RMA)
maTypeInput
Source (Upper band)
source
close
src1
Source (Lower band)
source
close
src2
Trailing
color
color.new(color.blue,0)
colTrailing
Loss Fill
color
color.new(color.red,20)
colLossFill
Profit Fill
color
color.new(color.lime,20)
colProfitFill
Upper Band
color
color.new(color.purple,20)
colShort
Lower Band
color
color.new(color.teal,20)
colLong
Label Size
string
size.normal
labelSize
Alert Trailing Stop Hit
bool
true
Alert_TrailingHit
- Message
string
o_trailing
Alert_TrailingHitText
Alert Price Target Hit
bool
false
Alert_PriceTarget
- Message
string
o_target
Alert_PriceTargetText
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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