OPEN-SOURCE SCRIPT
Updated Wx Stop Loss Beta
Wx Stop Loss Beta is an adaptive stop-loss overlay intended for discretionary entry management in medium- to long-term trades. It integrates a volatility filter, support-based logic, and capital protection constraints.
• Manual Entry Price: User inputs their actual entry point
• Volatility Anchor: Stop-loss adjusts using ATR (customizable length and multiplier)
• Support Reference: Based on swing low over a configurable lookback period
• Loss Cap: Maximum allowable loss percentage from entry price (hard floor)
• Trailing Logic: Stop-loss only moves upward (never lowers), adapting to favorable price action
• Output: Displays a horizontal line at the stop-loss level and renders its value in the data window
Warning: This tool is experimental and has not been formally backtested. It is provided as-is for manual strategy enhancement. Use at your own discretion, and validate thoroughly in a paper or sandbox environment before relying on it in live trading. Feedback and critique are encouraged.
• Manual Entry Price: User inputs their actual entry point
• Volatility Anchor: Stop-loss adjusts using ATR (customizable length and multiplier)
• Support Reference: Based on swing low over a configurable lookback period
• Loss Cap: Maximum allowable loss percentage from entry price (hard floor)
• Trailing Logic: Stop-loss only moves upward (never lowers), adapting to favorable price action
• Output: Displays a horizontal line at the stop-loss level and renders its value in the data window
Warning: This tool is experimental and has not been formally backtested. It is provided as-is for manual strategy enhancement. Use at your own discretion, and validate thoroughly in a paper or sandbox environment before relying on it in live trading. Feedback and critique are encouraged.
Release Notes
Wx Stop Loss Beta is an adaptive stop-loss overlay intended for discretionary entry management in medium- to long-term trades. It integrates a volatility filter, support-based logic, and capital protection constraints.• Manual Entry Price: User inputs their actual entry point
• Volatility Anchor: Stop-loss adjusts using ATR (customizable length and multiplier)
• Support Reference: Based on swing low over a configurable lookback period
• Loss Cap: Maximum allowable loss percentage from entry price (hard floor)
• Trailing Logic: Stop-loss only moves upward (never lowers), adapting to favorable price action
• Output: Displays a horizontal line at the stop-loss level and renders its value in the data window
Warning: This tool is experimental and has not been formally backtested. It is provided as-is for manual strategy enhancement. Use at your own discretion, and validate thoroughly in a paper or sandbox environment before relying on it in live trading. Feedback and critique are encouraged.
Release Notes
Wx Stop Loss Beta is an adaptive stop-loss overlay intended for discretionary entry management in medium- to long-term trades. It integrates a volatility filter, support-based logic, and capital protection constraints.• Volatility Anchor: Stop-loss adjusts using ATR (customizable length and multiplier)
• Support Reference: Based on swing low over a configurable lookback period
• Loss Cap: Maximum allowable loss percentage from entry price (hard floor)
• Trailing Logic: Stop-loss only moves upward (never lowers), adapting to favorable price action
• Output: Displays a horizontal line at the stop-loss level and renders its value in the data window
Warning: This tool is experimental and has not been formally backtested. It is provided as-is for manual strategy enhancement. Use at your own discretion, and validate thoroughly in a paper or sandbox environment before relying on it in live trading. Feedback and critique are encouraged.
Release Notes
Wx Stop Loss Beta is an adaptive stop-loss overlay intended for discretionary entry management in medium- to long-term trades. It integrates a volatility filter, support-based logic, and capital protection constraints.• Support Reference: Based on swing low over a configurable lookback period
• Loss Cap: Maximum allowable loss percentage from entry price (hard floor)
• Trailing Logic: Stop-loss only moves upward (never lowers), adapting to favorable price action
• Output: Displays a horizontal line at the stop-loss level and renders its value in the data window
Warning: This tool is experimental and has not been formally backtested. It is provided as-is for manual strategy enhancement. Use at your own discretion, and validate thoroughly in a paper or sandbox environment before relying on it in live trading. Feedback and critique are encouraged.
Release Notes
Wx Stop Loss Beta is an adaptive stop-loss overlay intended for discretionary entry management in medium- to long-term trades. It integrates a volatility filter, support-based logic, and capital protection constraints.• Manual Entry Price: User inputs their actual entry point
• Volatility Anchor: Stop-loss adjusts using ATR (customizable length and multiplier)
• Support Reference: Based on swing low over a configurable lookback period
• Loss Cap: Maximum allowable loss percentage from entry price (hard floor)
• Trailing Logic: Stop-loss only moves upward (never lowers), adapting to favorable price action
• Output: Displays a horizontal line at the stop-loss level and renders its value in the data window
This update removed the blue line connecting every candle.
Warning: This tool is experimental and has not been formally backtested. It is provided as-is for manual strategy enhancement. Use at your own discretion, and validate thoroughly in a paper or sandbox environment before relying on it in live trading. Feedback and critique are encouraged.
Release Notes
Wx Stop Loss Beta is an adaptive stop-loss overlay intended for discretionary entry management in medium- to long-term trades. It integrates a volatility filter, support-based logic, and capital protection constraints.• Manual Entry Price: User inputs their actual entry point
• Volatility Anchor: Stop-loss adjusts using ATR (customizable length and multiplier)
• Support Reference: Based on swing low over a configurable lookback period
• Loss Cap: Maximum allowable loss percentage from entry price (hard floor)
• Trailing Logic: Stop-loss only moves upward (never lowers), adapting to favorable price action
• Output: Displays a horizontal line at the stop-loss level and renders its value in the data window
Warning: This tool is experimental and has not been formally backtested. It is provided as-is for manual strategy enhancement. Use at your own discretion, and validate thoroughly in a paper or sandbox environment before relying on it in live trading. Feedback and critique are encouraged.
Release Notes
This version now caps the stop-loss at a maximum of 15% below the current price.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.
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
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.
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.