The average true range (ATR) is a technical analysis indicator that measures market volatility . The ATR indicator is easy to use and gives an accurate reading about an ongoing trend that very effective.
I. Signals are used for entry
- Entry your long position (buy) when price crosses above the ATR trailing stop line. - Entry your short position (sell) when price crosses below the ATR trailing stop line.
II. ATR Trailing Stops Setup
- The ATR period is used to adjust the sensitivity of the ATR trailing stop line. With larger period, the ATR will "smoother" but will signal slower than the price. - ATR multiplier is a multiple of ATR trailing stop. - If you want to backtest with trailing take profit, you can tick the box “test with trailing?”. It will affect 2 parameters which are: Trailing point and trailing offset. Where: Trailing Point is the trigger point, the distance from the entry price. Trailing Offset is the take-profit price, which is the distance from the Trailing Point.
III. A few ATR trailing stop configurations, you can use for backtesting:
Hi, this is a great working. Is it possible for you to share the script, I want to make some changes to accommodate the intraday trading options, like session hours Thanks
yannis_antypas
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Hello,
thank you for your indicator.
do you mind posting somewhere the source code?
It would shed light to a shady part of a strategy I'm planning.
Thanks