ATR Trgt & Trail SX
From MultiCharts
Definition
ATR Trgt & Trail SX 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 below the entry.
The delayed trailing stop will become active when the number of bars in position exceeds NumBars.
Usage
Short 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 LX for exiting a long position.