OPEN-SOURCE SCRIPT
Updated Adaptive Moving Average with ATR bands
This is script is essentially "AMA" and was originally developed by Alex Everget , I just added half ATR as a band to AMA to reduce the false breakouts and
use it to confirm hidden divergence with it.
use it to confirm hidden divergence with it.
Release Notes
Just added an input from user to use it for Stop loss.basically x*ATR is going to be used for stop loss.
you have to add/subtract it from closing price yourself.
Release Notes
The previews version ruined the scale and actually plotted the stop loss line which was not intended to do that.
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.
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