OPEN-SOURCE SCRIPT
Updated MA Trailing Stop
A Trailing Stop indicator that uses a multiple of ATR below a SMA/EMA line. Support long positions only.
Configurables:
1. Use SMA or EMA
2. MA Period
3. ATR multiplier
4. ATR look back period
The bottom of the red area indicates the stop line. The top of the red area indicates the reference MA line.
Ideal use case is you find your a red area that covers most local lows.
The stop line moves up with MA, but does not move down if MA moves down.
If moves down (re-calculates itself) only when a low penetrates the stop line.
Configurables:
1. Use SMA or EMA
2. MA Period
3. ATR multiplier
4. ATR look back period
The bottom of the red area indicates the stop line. The top of the red area indicates the reference MA line.
Ideal use case is you find your a red area that covers most local lows.
The stop line moves up with MA, but does not move down if MA moves down.
If moves down (re-calculates itself) only when a low penetrates the stop line.
Release Notes
Added source as an input to choose from.Release Notes
Removed unnecessary indicatorsOpen-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.