+1 888 340 6572

ATR Trgt & Trail LX

From MultiCharts

Definition

ATR Trgt & Trail LX calculates a market-based profit target and a delayed trailing stop.
The profit target is equal to NumATRs times the average true range of the last ATRLength bars above the entry.
The delayed trailing stop will become active when the number of bars in position exceeds NumBars.

Usage

Long exit based on the profit amount generated in relation to the market volatility.

Default Inputs

ATRLength - number of bars that should be included into the average true range calculation.
NumATR - average true range multiplier which is subtracted from the entry price and determines the stop value.
NumBars - number of bars after entering the position where the trailing stop is activated.


Note: Use ATR Trgt & Trail SX for exiting a short position.