BEST ATR Stop Multiple Strategy

6 Apr 2020Hello traders

Here we go again.... with another strategy snippet.
Reminder: it's an alternative of this Trailing Stop strategy script

Entry logic

The entry is based on a Simple Moving Averages (SMA) cross.
This part doesn't matter here - as I wanted to focus on the ATR multiple stop loss component.

ATR STOP

This strategy snippet uses an entry stop loss defined based on a multiple of the average true range value.
The soure code detects ATR value at entry price, applies the multiplier and will set a static (= non trailing) stop-loss to each position
A pinescript v4 label will appear for each new signal displaying the ATR*multiplier value at signal time

All the BEST
Dave