Average True Range Trailing Stop


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Average True Range Trailing Stop

NOTE: This trailing stop along with 5 others have been incorporated into the Ultimate Trailing Stop indicator.

Description - Click here to view the full size chart

This indicator is referenced in the "Block the Noise" seminar.

Trailing stop loss indicator places plots on a chart based on distance between current price and average true range (ATR) times a multiplier.
When price breaks the stop loss line, an arrow indicating a direction change is plotted and the color of the indicator changes to Blue for LONG and Red for SHORT trades..

Key Features

Parameters are:
Includes option for aubible alert when price breaks the stop loss line
Direction CHange Arrows (default TRUE)
Use Close Price else use High/Low (TRUE) - When set to false, the indicator use the bar's LOW for Long trades, and HIGH for short trades.

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