Volatility Stop

This is a new version of the classic Volatility Stop originally published in 2014 by admin and written in Pine v1. While the code has evolved, its logic is identical. It is an ATR-based trend detector that can also be used as a stop. It belongs to the same family of indicators as:
• Charles Le Beau's Chandelier Exit,
• Olivier Seban's Super Trend, and
• Sylvain Vervoort's Average True Range Trailing Stop.
Unlike the Chandelier Exit, Volatility Stop will not move against the trend.

This new version is written in Pine v4. The indicator can be used as a chart overlay, like the original. The calculations have been functionalized for easier reuse, so it is now easier to lift the logic out of the script and use it in others.

• Choice of 2 color themes.
• Choice of display as a line, circles, diamonds or arrows. The line can be used with the other shapes. If no line is required, set its thickness to zero.
• Same default of length=20 and ATR factor=2 used in the original Volatility Stop .
• 3 alerts: on any trend change, or on changes into up or downtrends only. Alerts should be configured to trigger Once Per Bar Close.

Original version:

Jan 22
Versionshinweise: Improved behavior in the "Length" first bars of the dataset, until ATR can be calculated. Whereas the original version shows no stops on these first bars, this one will.
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how Can I have 120 timefrime?
@whoostyle, For the moment you can't, unless your chart is at that resolution. We are working on an MTF version.
whoostyle TradingView
what is MTF version?
you are tradingview?? what a joke?
whoostyle whoostyle
@whoostyle, I found
@whoostyle, ) np, and yes, we are the real thing.
Superbly built, thanks for sharing!
@allanster, Thank you for the comment!
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