OPEN-SOURCE SCRIPT
ATR value for Stop Loss
The indicator is supposed to give you a quick look at the ATR multiple for the symbol you are trading. Say, you trade on two minute candle for Intra-day, you know, as soon as you took the trade, where your 2 or 3 times ATR stop loss should be, etc.
You can use this on any time interval, for a quick way to identify the stop loss based on the volatility.
Good luck.
YT @channeldaytrading
You can use this on any time interval, for a quick way to identify the stop loss based on the volatility.
Good luck.
YT @channeldaytrading
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Want to use this script on a chart?
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