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ATR Exit 2
Here's another one - I did it a while ago and didn't pay a lot of attention to it until recently
but it should do the job. Both this one and the other ATR stop posted can dip down, in essence lowering the stop.
You need to be aware of this. Adjsuting the "lookback periods" can fix this.

ATR Exit 2

Numatr:=Input("Multiples of ATR",1,5,2);
Periods:=Input("Periods for ATR",3,21,8);
Lookback:=Input("lookback periods",3,55,8);
SL:=C-Numatr*ATR(periods);
If(SL<HHV(SL,lookback),PREV,SL)

 

Stevo
Source / From: TOP
http://www.stockcentral.com.au/forum/machine/

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