ATR Take Profit and Stop Loss

• 09/15/2023 at 8:55 AM #221073
  Patrick K Templar

  Hello could you convert this please from Tradingview into pro-real-time code

  I have one I have been using but it is not as correct as this thank you

  study(title = "NNFX ATR", shorttitle = "ATR", overlay = true, format = format.price, precision = 5) //Don't add scale = scale.right as the indicator will move all over the place atrLength = input(title = "X", defval = 14, minval = 1) atrProfit = input(title = "TP", defval = 1, type = input.float) atrLoss = input(title = "SL", defval = 1.5, type = input.float) smoothing = input(title="Smoothing", defval="RMA", options=["RMA", "SMA", "EMA", "WMA"]) function(source, length) => if smoothing == "RMA" rma(source, atrLength) else if smoothing == "SMA" sma(source, atrLength) else if smoothing == "EMA" ema(source, atrLength) else wma(source, atrLength) formula(number, decimals) => factor = pow(10, decimals) int(number * factor) / factor atr = formula(function(tr(true), atrLength),5) //Buy bAtrBuy = atrLength ? close + atr* atrProfit : close - atr* atrProfit bAtrSell = atrLength ? close - atr* atrLoss : close + atr* atrLoss plot(bAtrBuy, title = "Buy TP", color = color.blue, transp = 0, linewidth = 1, trackprice = true, editable= true) plot(bAtrSell, title = "Buy SL", color = color.red, transp = 25, linewidth = 1, trackprice = true, editable = true) //Sell sAtrBuy = atrLength ? close - atr* atrProfit : close + atr* atrProfit sAtrSell = atrLength ? close + atr* atrLoss : close - atr* atrLoss plot(sAtrBuy, title = " Sell TP", color = color.blue, transp = 35, linewidth = 1, trackprice = true, editable = true) plot(sAtrSell, title = "Sell SL", color = color.red, transp = 50, linewidth = 1, trackprice = true, editable = true) //This one is way below price because I don't want there to be a 5th line inbetween the 2 TPs and SLs plot(atr, title = " Main ATR", color = color.yellow, transp = 0, linewidth = 1, editable = true) //---END---

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  study(title = "NNFX ATR", shorttitle = "ATR", overlay = true, format = format.price, precision = 5) //Don't add scale = scale.right as the indicator will move all over the place   atrLength = input(title = "X", defval = 14, minval = 1) atrProfit = input(title = "TP", defval = 1, type = input.float) atrLoss   = input(title = "SL", defval = 1.5, type = input.float)   smoothing = input(title="Smoothing", defval="RMA", options=["RMA", "SMA", "EMA", "WMA"]) function(source, length) => if smoothing == "RMA" rma(source, atrLength) else if smoothing == "SMA" sma(source, atrLength) else if smoothing == "EMA" ema(source, atrLength) else wma(source, atrLength)   formula(number, decimals) =>     factor = pow(10, decimals)     int(number * factor) / factor      atr = formula(function(tr(true), atrLength),5)   //Buy bAtrBuy  = atrLength ? close + atr* atrProfit : close - atr* atrProfit bAtrSell = atrLength ? close - atr* atrLoss   : close + atr* atrLoss   plot(bAtrBuy, title  = "Buy TP", color = color.blue, transp = 0, linewidth = 1, trackprice = true, editable=  true) plot(bAtrSell, title = "Buy SL", color = color.red, transp = 25, linewidth = 1, trackprice = true, editable = true)   //Sell sAtrBuy  = atrLength ? close - atr* atrProfit : close + atr* atrProfit sAtrSell = atrLength ? close + atr* atrLoss   : close - atr* atrLoss   plot(sAtrBuy, title  = " Sell TP", color = color.blue, transp = 35, linewidth = 1, trackprice = true, editable = true) plot(sAtrSell, title = "Sell SL", color = color.red, transp = 50, linewidth = 1, trackprice = true, editable = true)   //This one is way below price because I don't want there to be a 5th line inbetween the 2 TPs and SLs plot(atr, title = " Main ATR", color = color.yellow, transp = 0, linewidth = 1, editable = true)   //---END---

   

  1. This is an indicator specially made for NNFX traders who use the ATR rule of ATR1x for Take Profit and ATR1.5x for Stop Loss

  The indicator:
  1. It can be used for a quick look using the lines to see instead of calculating whether price hit a TP or SL. However I have kept the Main ATR for those who want to record the ATR into the spreadsheet when back testing or forward testing
  2. When placing a buy/long order, TP is blue and appears above price, SL is red and appears below price
  3. When placing a sell/short order, TP is blue and appears below price, SL is red and appears above price
  4. The Main ATR, which is yellow, is way below price because I didn’t want the chart to be overwhelmed by a 5th line in the middle of 2 TPs and SLs aka make the chart look claustrophobic

  

  Patrick K Templar

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  09/15/2023 at 2:46 PM #221114
  Nicolas

  Here is below the translated code for this NNFX indicator that display the ATR takeprofit and stoploss for both Buy and Sell orders:

  //NNFX ATR atrLength = 14 atrProfit = 1 atrLoss = 1.5 smoothing = 1 //formula(number, decimals) => once factor = pow(10, 5) //int(number * factor) / factor atr = (averagetruerange[atrlength]*factor)/factor//formula(function(tr(true), atrLength),5) //Buy bAtrBuy = close + atr* atrProfit //: close - atr* atrProfit bAtrSell = close - atr* atrLoss //: close + atr* atrLoss //plot(bAtrBuy, title = "Buy TP", color = color.blue, transp = 0, linewidth = 1, trackprice = true, editable= true) //plot(bAtrSell, title = "Buy SL", color = color.red, transp = 25, linewidth = 1, trackprice = true, editable = true) //Sell sAtrBuy = close - atr* atrProfit sAtrSell = close + atr* atrLoss //plot(sAtrBuy, title = " Sell TP", color = color.blue, transp = 35, linewidth = 1, trackprice = true, editable = true) //plot(sAtrSell, title = "Sell SL", color = color.red, transp = 50, linewidth = 1, trackprice = true, editable = true) //---END--- return bAtrBuy coloured("blue") as "Buy TP",bAtrSell coloured("red") as "Buy SL", sAtrBuy coloured("blue") as "Sell TP",sAtrSell coloured("red") as "Sell SL"

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  //NNFX ATR atrLength = 14 atrProfit = 1 atrLoss   = 1.5   smoothing = 1   //formula(number, decimals) => once factor = pow(10, 5) //int(number * factor) / factor      atr = (averagetruerange[atrlength]*factor)/factor//formula(function(tr(true), atrLength),5)   //Buy bAtrBuy  = close + atr* atrProfit //: close - atr* atrProfit bAtrSell = close - atr* atrLoss   //: close + atr* atrLoss   //plot(bAtrBuy, title  = "Buy TP", color = color.blue, transp = 0, linewidth = 1, trackprice = true, editable=  true) //plot(bAtrSell, title = "Buy SL", color = color.red, transp = 25, linewidth = 1, trackprice = true, editable = true)   //Sell sAtrBuy  = close - atr* atrProfit sAtrSell = close + atr* atrLoss   //plot(sAtrBuy, title  = " Sell TP", color = color.blue, transp = 35, linewidth = 1, trackprice = true, editable = true) //plot(sAtrSell, title = "Sell SL", color = color.red, transp = 50, linewidth = 1, trackprice = true, editable = true)   //---END---   return bAtrBuy coloured("blue") as "Buy TP",bAtrSell coloured("red") as "Buy SL", sAtrBuy coloured("blue") as "Sell TP",sAtrSell coloured("red") as "Sell SL"

   

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  Nicolas

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  10/24/2024 at 8:45 AM #239389
  borsogge

  Thanks but not exactly what i had in mind. I use this code to know when to take my stop:

  // Période
  p = 5

  // Average True Range X
  ATRx = AverageTrueRange[p](close) * 3.5

  // ATRts = ATR Trailing Stop

  // Inversion de tendance
  IF close crosses over ATRts THEN
  ATRts = close – ATRx
  ELSIF close crosses under ATRts THEN
  ATRts = close + ATRx
  ENDIF

  // Cacul de l’ATRts lors de la même tendance
  IF close > ATRts THEN
  ATRnew = close – ATRx
  IF ATRnew > ATRts THEN
  ATRts = ATRnew
  ENDIF
  ELSIF close < ATRts THEN
  ATRnew = close + ATRx
  IF ATRnew < ATRts THEN
  ATRts = ATRnew
  ENDIF
  ENDIF

  return ATRts as “ATR Trailing Stop”

  But i dont want it to be active until i have reached a certain profit level. For example, i take an entry at in the SP500 at 5820. When it reaches 5840 the ATR stop begins under the previous bar.

  Is this possible to program?

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  robertogozzi

  

  borsogge

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  10/24/2024 at 7:16 PM #239431
  robertogozzi

  borsogge wrote:

  Thanks but not exactly what i had in mind.

  Of course it isn’t. It is what Patrick K Templar asked for 🙂

   

  

  robertogozzi

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  10/25/2024 at 4:17 PM #239470
  robertogozzi

  Cela imprimera ● sur la bougie actuelle et ⬆︎ en dessous de la bougie précédente, lorsque le prix actuel dépasse le HAUT des 20 bougies précédentes :

  PriceLevel = highest[20](high[1]) //DRAW only when CLOSE > this level // Période p = 5 // Average True Range X ATRx = AverageTrueRange[p](close) * 3.5 // ATRts = ATR Trailing Stop // Inversion de tendance IF close crosses over ATRts THEN ATRts = close - ATRx ELSIF close crosses under ATRts THEN ATRts = close + ATRx ENDIF // Cacul de l’ATRts lors de la même tendance IF close > ATRts THEN ATRnew = close - ATRx IF ATRnew > ATRts THEN ATRts = ATRnew ENDIF ELSIF close < ATRts THEN ATRnew = close + ATRx IF ATRnew < ATRts THEN ATRts = ATRnew ENDIF ENDIF IF close > PriceLevel THEN drawtext("●",BarIndex,PriceLevel,dialog,bold,36) coloured("Fuchsia") drawarrowUP(BarIndex[1],low[1]-range[1]) coloured("Red") ENDIF return ATRts as "ATR Trailing Stop"

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  PriceLevel = highest[20](high[1])  //DRAW only when CLOSE > this level   // Période p = 5   // Average True Range X ATRx = AverageTrueRange[p](close) * 3.5   // ATRts = ATR Trailing Stop   // Inversion de tendance IF close crosses over ATRts THEN    ATRts = close - ATRx ELSIF close crosses under ATRts THEN    ATRts = close + ATRx ENDIF   // Cacul de l’ATRts lors de la même tendance IF close > ATRts THEN    ATRnew = close - ATRx    IF ATRnew > ATRts THEN       ATRts = ATRnew    ENDIF ELSIF close < ATRts THEN    ATRnew = close + ATRx    IF ATRnew < ATRts THEN       ATRts = ATRnew    ENDIF ENDIF IF close > PriceLevel THEN    drawtext("●",BarIndex,PriceLevel,dialog,bold,36) coloured("Fuchsia")    drawarrowUP(BarIndex[1],low[1]-range[1]) coloured("Red") ENDIF return ATRts as "ATR Trailing Stop"

   

  

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