OPEN-SOURCE SCRIPT
Updated ATR-Based Dynamic Stop Loss (Displays on Price Scale)
This indicator calculates a dynamic stop loss based on the Average True Range (ATR) and displays it directly on the price scale.
🔹 Key Features:
✅ Stop loss updates automatically with price movement.
✅ Visible on the price scale for easy reference.
✅ Uses ATR multiplier for flexible stop loss adjustment.
✅ Works across all timeframes & assets.
📌 How It Works:
The script calculates ATR (Average True Range) over a user-defined period.
The stop loss is set at (Close - ATR * Multiplier).
The value updates dynamically and appears on the right-side price scale.
🔧 Settings:
ATR Length: Defines the calculation period.
Multiplier: Adjusts the distance of the stop loss from the price.
💡 Best Use Case:
Helps traders manage risk efficiently.
Ideal for trend-following & volatility-based stop loss strategies.
🚀 How to Use:
1️⃣ Add the script to your chart.
2️⃣ Adjust ATR length & multiplier as needed.
3️⃣ Monitor the stop loss value on the price scale.
🔹 Key Features:
✅ Stop loss updates automatically with price movement.
✅ Visible on the price scale for easy reference.
✅ Uses ATR multiplier for flexible stop loss adjustment.
✅ Works across all timeframes & assets.
📌 How It Works:
The script calculates ATR (Average True Range) over a user-defined period.
The stop loss is set at (Close - ATR * Multiplier).
The value updates dynamically and appears on the right-side price scale.
🔧 Settings:
ATR Length: Defines the calculation period.
Multiplier: Adjusts the distance of the stop loss from the price.
💡 Best Use Case:
Helps traders manage risk efficiently.
Ideal for trend-following & volatility-based stop loss strategies.
🚀 How to Use:
1️⃣ Add the script to your chart.
2️⃣ Adjust ATR length & multiplier as needed.
3️⃣ Monitor the stop loss value on the price scale.
Release Notes
This indicator calculates a dynamic stop loss based on the Average True Range (ATR) and displays it directly on the price scale.🔹 Key Features:
✅ Stop loss updates automatically with price movement.
✅ Visible on the price scale for easy reference.
✅ Uses ATR multiplier for flexible stop loss adjustment.
✅ Works across all timeframes & assets.
📌 How It Works:
The script calculates ATR (Average True Range) over a user-defined period.
The stop loss is set at (Close - ATR * Multiplier).
The value updates dynamically and appears on the right-side price scale.
🔧 Settings:
ATR Length: Defines the calculation period.
Multiplier: Adjusts the distance of the stop loss from the price.
💡 Best Use Case:
Helps traders manage risk efficiently.
Ideal for trend-following & volatility-based stop loss strategies.
🚀 How to Use:
1️⃣ Add the script to your chart.
2️⃣ Adjust ATR length & multiplier as needed.
3️⃣ Monitor the stop loss value on the price scale.
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.
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.