One of the most valuable stop losses (Based on Ichimoku and ATR)
January 12, 2021, 2:31 PM
Indicators
7 Comments
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"
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Filename:
Ichimoku-and-ATR-stoploss.itf
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