ATR+ (Stop Loss Indicator)

This script is designed to aid in back-testing and trade execution.

It displays three sets of values - the teal colored value is the current ATR, the green colored value is your stop loss distance (in pips) below the most recent swing low for long trades, and the red colored value is your stop loss distance (in pips) above the most recent swing high for short trades.

You can change the stop loss settings to base your stop loss on a set pip amount or by however many multiples of the current ATR as you wish (eg. 1.5x ATR).

Feel free to ask any questions or edit the script without permission :)

- Matt.

Release Notes

Minor improvements

Release Notes

Converted ATR and S/L into whole numbers.
Added optional T1 (Profit Target).

Release Notes

Minor improvements to display chart.

Release Notes

Minor improvements.

Release Notes

Converted to Pine Script v4 and cleaned up code to remove unnecessary lines.

Release Notes

Fixed to work on all markets (previously was bugged on some markets)

Release Notes

Updated to Pine Script v5

Release Notes

Updated to v6 pine script and v9 ZenLibrary

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.

ZenAndTheArtOfTrading

My Resources Hub: theartoftrading.com
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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

ZenAndTheArtOfTrading

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