OPEN-SOURCE SCRIPT
WAHIDAL ATR
This TradingView script calculates the Average True Range (ATR) and uses it to determine a stop percentage based on a user-defined multiplier. The ATR is a popular volatility indicator that measures the degree of price movement over a given period, providing insight into market volatility.
Key Features:
ATR Calculation:
The script calculates the Average True Range over a specified period (default is 14 days).
It calculates the ATR as a percentage of the opening price, offering a normalized measure of volatility.
Stop Percentage:
The script then multiplies the ATR percentage by a user-defined multiplier to compute a stop percentage. This is useful for setting dynamic stop-loss levels based on market volatility.
Customizable Inputs:
Users can customize the ATR period length and the multiplier to tailor the indicator to their specific trading strategy.
Visual Outputs:
The ATR percentage is plotted in orange, while the stop percentage is plotted in red, providing a clear visual representation of both metrics on the chart.
This indicator is useful for traders looking to assess market volatility and establish stop-loss levels that adapt to changing market conditions.
Key Features:
ATR Calculation:
The script calculates the Average True Range over a specified period (default is 14 days).
It calculates the ATR as a percentage of the opening price, offering a normalized measure of volatility.
Stop Percentage:
The script then multiplies the ATR percentage by a user-defined multiplier to compute a stop percentage. This is useful for setting dynamic stop-loss levels based on market volatility.
Customizable Inputs:
Users can customize the ATR period length and the multiplier to tailor the indicator to their specific trading strategy.
Visual Outputs:
The ATR percentage is plotted in orange, while the stop percentage is plotted in red, providing a clear visual representation of both metrics on the chart.
This indicator is useful for traders looking to assess market volatility and establish stop-loss levels that adapt to changing market conditions.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun das Script auch andere Trader verstehen und prüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden. Die Nutzung dieses Codes in einer Veröffentlichung wird in unseren Hausregeln reguliert. Sie können es als Favoriten auswählen, um es in einem Chart zu verwenden.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.