EntryBar ATR Stop SX

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EntryBar ATR Stop SX generates a short exit Stop order on the entry bar at a calculated dollar amount above the Close price. The dollar amount added to the Close price is calculated by multiplying the value specified in NumATRs input by the average true range of the number of bars specified in ATRLength input.
This signal may help to protect the short position from an instant trend reversal.

Note: The order is only generated once, on the bar where the position is entered.

This signal generates only short exit orders. Use EntryBar ATR Stop LX for exiting from a long position.

Default Inputs

ATRLength (5) - number of bars for average true range calculation.

NumATRs (1) - multiplier of average true range.