ATR Trailing LX
From MultiCharts
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.
This strategy is not a strict trailing stop as the average true range increase can cause the stop to retrace.
Default Inputs
ATRLength( 10 ) sets the number of bars that should be included into the average true range calculation.
NumATRs( 3 ) sets the average true range multiplier which is subtracted to the position's highest price and determines the stop value.
Use ATR Trailing SX for exiting a short position.
