exit490

SUPERTREND ATR WITH TRAILING STOP LOSS

## THIS SCRIPT IS ON GITHUB

## MORE BACKTEST

SuperTrend is a moving stop and reversal line based on the volatility (ATR).

The strategy will ride up your stop loss when price moviment 1%.

The strategy will close your operation when the market price crossed the stop loss.

The strategy will close operation when the line based on the volatility will crossed

The strategy has the following parameters:

+ **ATR PERIOD** - To select number of bars back to execute calculation
+ **ATR MULTPLIER** - To add a multplier factor on volatility
+ **INITIAL STOP LOSS** - Where can isert the value to first stop.
+ **POSITION TYPE** - Where can to select trade position.
+ **BACKTEST PERIOD** - To select range.

## DISCLAIMER

1. I am not licensed financial advisors or broker dealers. I do not tell you when or what to buy or sell. I developed this software which enables you execute manual or automated trades multiple trades using TradingView. The software allows you to set the criteria you want for entering and exiting trades.
2. Do not trade with money you cannot afford to lose.
3. I do not guarantee consistent profits or that anyone can make money with no effort. And I am not selling the holy grail.
4. Every system can have winning and losing streaks.
5. Money management plays a large role in the results of your trading. For example: lot size, account size, broker leverage, and broker margin call rules all have an effect on results. Also, your Take Profit and Stop Loss settings for individual pair trades and for overall account equity have a major impact on results. If you are new to trading and do not understand these items, then I recommend you seek education materials to further your knowledge.

**YOU NEED TO FIND AND USE THE TRADING SYSTEM THAT WORKS BEST FOR YOU AND YOUR TRADING TOLERANCE.**

**I HAVE PROVIDED NOTHING MORE THAN A TOOL WITH OPTIONS FOR YOU TO TRADE WITH THIS PROGRAM ON TRADINGVIEW.**

## NOTE

I accept suggestions to improve the script.

If you encounter any problems i will be happy to share with me.

+ Authors: @exit490
+ Revision: v1.0.0
+ Date: 5-Aug-2019
+ Pinescript version: 4

## LICENSE

Copyright 2019 Mauricio Pimenta / exit490

SuperTrend with Trailing Stop Loss script may be freely distributed under the (../LICENSE).
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Hello, I don´t undersatnd these lines of code:
133 direction = 1
134 direction := nz(direction, direction)
135 direction := direction == -1 and close>shortStopPrev?1:direction==1 and close< longStopPrev ? -1 : direction

I think is a key for change direction isn´t it? thanks
Reply
Shall I make alerts version of your script
Reply
nice strategy!! is there an "study" version with alerts available?
+1 Reply
exit490 TheNameIsMax
@TheNameIsMax, i'll note in my planning and make it available soon.
Reply
Loving this!
I'm going to start using your script together with my "PRISM Signals" (base on a scoring algorithm of pSAR-derived oscillator + pSAR-based RSI/Stochs & Momentum/Acceleration/Jerk analysis).

Here's an overlay of your strategy marked by "Buy" and "Sell" labels, vs. my PRISM Signals' "B" and "S" signals.


====

PRISM Signals


PRISM Oscillators
+1 Reply
exit490 cybernetwork
@cybernetwork, Nice! Your strategy is free?
+1 Reply
@exit490, Yeps, completely free. :)

I didn't code it as a strategy though. Just labels for possible buy/sell points. Still optimizing various parameters for now.
In the future, I might separately release one with alerts/strategy.
+1 Reply
exit490 cybernetwork
@cybernetwork, when you're ready show me if you can =)
+1 Reply
@exit490, Its available for use here :)
Reply
cybernetwork cybernetwork
@cybernetwork, The heat map and lines, etc, are disabled by default.
Reply
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