The ATR Trailing Stop (ATRS) is a protective stop level based on the Average True Range (ATR), a volatility indicator. It is a dynamic trailing stop that adjusts to price movements and market volatility.
The trailing stop moves only in the direction of the position. When the price crosses the stop level at candle close, the stop is repositioned on the following candle.
The indicator displays, depending on the selected options, two trailing stop lines :
Like any trailing stop, it only moves in the direction of the trade. When the stop is "broken" at candle's closing, it is repositioned at the next candle.
The parameters are adjustable so that everyone can set the ATR Trailing Stop according to their own criteria. All of these settings are made without modifying the code, very easily in the indicator's configuration menu.
Adjustable validation criteria:
Details of available settings:
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