One of the most valuable stop losses (Based on Ichimoku and ATR) for ProRealTime

This indicator is using the mean of Ichimoku Kijun of periods 9 and 26. That value is smoothed with a triangular average. Then 89% of the ATR 14 periods is added and subtract to create the long and short stoploss lines you can see on the picture.

//Zigo

//Written in One-Note 26/11/2014 (10:07)
//Published in PRT 8/01/2021
//Calculation the Stop losse Long and Short
c1=(highest[9](high)+lowest[9](low))/2
C2= (highest[26](high)+lowest[26](low))/2
c3=(c1+c2)/2

//Dynamic for Long positionsx
//Dynamic stop for Short positions
stlong=TriangularAverage[5](c3- 0.89*AverageTrueRange[14](close))
stshort=TriangularAverage[5](c3+0.89*AverageTrueRange[14](close))

Return stLong coloured(0,255,0) as"StopLong", Stshort coloured(255,0,0) as "StopShort"

Download

Filename: Ichimoku-and-ATR-stoploss.itf

Downloads: 361

Comments

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Thierrycz

8 months ago

thanks

DimKar

6 years ago

Dear Zigo thank you very much for your answer !!!

DimKar

6 years ago

Dear Zigo please can you help me ? it must be easy for you ... I need to plot a mid line between these 2 lines ...For example if the red line is at 1300 and the green line is at 1250 then the mid line = (1300+1250)/2=1275 The mid line should be very thick and different color So PLEASE can you tell me what line should i add to your code ? Many Thanks Best Regards Dimitris ( from Greece )

Zigo

6 years ago

@ DimKar Midline = (stlong + stshort)/2 Return stLong coloured(0,255,0) as"StopLong", Midline coloured (100,255,255,175)style (line ) as " MeanLine", Stshort coloured(255,0,0) as "StopShort"

Zigo

6 years ago

Zou je graag helpen, maar mijn computer is in onderhoud. Einde deze week, kan ik hopelijk terug werken!

DimKar

6 years ago

Thank you very much for sharing great job !!!!

Zigo

6 years ago

Depending the timeframe, a variable could be built in as factor (f) to varies the weight of the ATR. Replace 0.89 in the code at line 12 and 13 to (f).