ATR Trailing LX

Definition

ATR Trailing LX generates a stop order at the highest price since trade entry minus NumATRs times the average true range over the last ATRLength bars. The stop goes upwards as the trade progresses.

Note: This strategy is not a strict trailing stop as the average true range increase can cause the stop to retrace.

Default Inputs

ATRLength - number of bars that should be included into the average true range calculation.
NumATRs - average true range multiplier which is subtracted to the position's highest price and determines the stop value.

Note: Use ATR Trailing SX for exiting a short position.