I have created this code to help me with the trades, independently of the long term trades or swing trades.
The code
//@version=1 // @author = joapen.com , how I use it // // If you use this code in its orignal/modified form, do drop me a note. I would like to learn about better improvements of it // //1.- Define Stop Loss //2.- Check if the goal makes sense or not, //3.- Compare with Bollinger bands. //4.- Refine the trade... study(title="joapen-ATR-analysis", overlay = true) nATRPeriod = input(defval = 10, title="# periodos", type=integer) nATRMultip = input(defval = 1.8, title="factor multiplicador", type=float) xATR = atr(nATRPeriod) nLoss = nATRMultip * xATR // the "goal reference" must be at least twice the stop loss nObjetivo = nATRMultip * xATR *2 xATRStop = close - nLoss xATRObjetivo = close + nObjetivo plot(xATRStop, color=red, title="ATR Stop") plot(xATRObjetivo, color=blue, title="ATR Objetivo")
Any additional support is welcomed