ATR From the Lows help

[zciwtrades]

Hello traders! I was looking if anyone could modify this code that plots 1.5 ATR from the lows so that it is like a trailing stop style, as in it flattens out until a higher low is made. Ideally if i could also set it to start at a certain date (like an anchored VWAP) that would be amazing!

Thanks!!!


Code:
input length = 20;
input factor = 1.5;

input averageType = AverageType.SIMPLE;

def ATR = MovingAverage(averageType, TrueRange(high, close, low), length);

plot ATRTrail = low - (ATR *factor);

 

[halcyonguy]

Hello traders! I was looking if anyone could modify this code that plots 1.5 ATR from the lows so that it is like a trailing stop style, as in it flattens out until a higher low is made. Ideally if i could also set it to start at a certain date (like an anchored VWAP) that would be amazing!

Thanks!!!


Code:
input length = 20;
input factor = 1.5;

input averageType = AverageType.SIMPLE;

def ATR = MovingAverage(averageType, TrueRange(high, close, low), length);

plot ATRTrail = low - (ATR *factor);

this plots a trail line.
it uses max() to create a line that doesn't drop.
the if-then checks if close crosses the line. if it does then it stops drawing.
this starts a trail line at bar #1 and a bar after each time the previous one ends.

#trail_atr_from_low

#https://usethinkscript.com/threads/atr-from-the-lows-help.19720/
#ATR From the Lows help
#zciwtrades  10/7

# I was looking if anyone could modify this code that plots 1.5 ATR from the lows so that it is like a trailing stop style, as in it flattens out until a higher low is made. Ideally if i could also set it to start at a certain date (like an anchored VWAP) that would be amazing!


def na = double.nan;
def bn = barnumber();

input length = 20;
input factor = 1.5;
input averageType = AverageType.SIMPLE;
def ATR = MovingAverage(averageType, TrueRange(high, close, low), length);

def ATRTrail = low - (ATR *factor);

def trail_line = if bn == 1 then ATRTrail
 else if close < trail_line[1] then 0
 else max(trail_line[1] , ATRTrail );

plot z = if trail_line > 0 then trail_line else na;


addchartbubble((trail_line[1] > 0 and trail_line == 0), low,
"sell"
, color.yellow, no);
#

other posts about trailing
https://usethinkscript.com/threads/trailing-stop-loss-help-needed.16492/#post-133724
https://usethinkscript.com/threads/having-trouble-with-stop-loss-code.16083/#post-129176