This structure is different from standard stop-losses. The base frame is based on "Market Adaptive Stop-Loss" script. For detailed information about Market Adaptive Stop-Loss:
This script uses the Relativity Autonomous Distribution Blocks as cross method.
Tradeable / Non Tradeable Region Detector : This script separates tradeable and non-tradeable regions with a coloring method. Plotting Rules : * Maroon : Uncorfirmed Short Positions * Teal : Unconfirmed Long Positions * Green : Confirmed Long Positions * Red : Confirmed Short Positions
This script can be used in only 1W time frame. (TF = 1W )
Does not repaint on 1W and larger time frames. ( Source = close )
*** Settings :
The only option here is the ATR multiplier. The default use value of this ATR multiplier, which is of the standard of stop-loss, is 2.You can set it from the menu.
No alert is set. Because the positive and negative regions are the same as Relativity Autonomous Distribution Blocks. Since the traders can trade according to the support and resistance outside the definite regions, the unnecessary signal was confused and the alerts were removed.
*** USAGE
The Stop-Loss indicator can slide on the chart. So you have to make sure you put it in right place.
Using this script in a new pane below will radically solve slip problems. Stop-Loss values do not slip definitely.The values can select from the alignment.
NOTE : Some structures (Market Adaptive Stop-Loss) and design in this script are inspired by everget's Chandelier Exit script :