Volatility Based Trailing Stop for TOS

M

Miket

New member
This Thinkscript indicator is a volatility-based trailing stop, similar to the Chandelier Stop. When direction switches from short to long (or vice versa), the initial stop level is a specified number of multiples of the Average True Range (ATR) of the last ‘n’ bars. Then the value is trailed, getting tighter should volatility decrease or price move to new extremes. A close through the stop level signifies a trend change in this indicator; crossing the value and closing back on the other side does not.

http://tos.mx/mE3lJU

 
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BenTen

BenTen

Administrative
Staff
VIP
Thanks for that. Keep in mind that before sharing any indicators, please write a short description of what it does.

 
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