PINE SCRIPT CODE FOR ATR TRAILING STOP-LOSS

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Several years ago I came across a website as I was searching for coding a trailing stop-loss on MetaStock. A website called Trader Nexus helped me to better understand what a Chandelier Exit is with several great examples and some sort of a plug in DLL specifically designed for MetaStock formula language. Over the years I made some modifications to the ATR based trailing stop-loss.

Recently I spent couple of long hours on Trading View to understand and formulate the similar ATR based trailing stop by using their formula language, pine script. I think I was able to plot the indicator and I’m sharing it here with out members. I plan to integrate more and more Trading View functionalities to Tech Charts reports and website.

If you are interested in giving the platform a try here is your discounted link (Try Trading View with an initial discount)

I named it Simplified ATR Trailing Stop because so much more can be done with it by adding different calculations, such as price projections based on the initial risk etc. I will continue to build on this in the following posts. Let’s look at the below box for parameters.

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CRYPTOCURRENCIES – August 17, 2025

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BTCUSD cleared the upper boundary of its possible H&S continuation to new all-time highs. Monitoring price action as it consolidates above the broken neckline. ETH starts outperforming BTC in the short-term, though the ratio can be close to a resistance level.

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GLOBAL EQUITY MARKETS – August 16, 2025

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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) did a round trip after the sharp sell-off and reached its all-time highs around 123.5 levels. Following the breakout above the horizontal resistance at 123.5 levels the ETF has been trending higher in a channel. Price is respecting both boundaries. Support area is between 123.5 and 127.7 levels. Uptrend is intact.

 

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INTERIM UPDATE – Aug 14, 2025

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I start my research on Mondays and finalize by end of day Thursday. Friday is dedicated to putting all ideas to the report format. During the week I come across good setups and those are featured in the weekly report. However, there are those that pop up during the week and is worth bringing to your attention before the week finalizes. Below are the latest additions to Tech Charts watchlist from Global equities that are close to breakout confirmation levels. These charts will be discussed in the weekend report as well.

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GLOBAL EQUITY MARKETS – August 9, 2025

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) did a round trip after the sharp sell-off and reached its all-time highs around 123.5 levels. The fact that the ETF cleared its 200-day average and moved significantly above it can be analyzed long-term positive as pullbacks and consolidations are likely to find support above the 200-day. A possible trend channel might be forming with price respecting both boundaries. Minor high at 132 levels can act as short-term resistance. Support area is between 123.5 and 127.7 levels. Uptrend is intact.

 

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INTERIM UPDATE – Aug 7, 2025

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I start my research on Mondays and finalize by end of day Thursday. Friday is dedicated to putting all ideas to the report format. During the week I come across good setups and those are featured in the weekly report. However, there are those that pop up during the week and is worth bringing to your attention before the week finalizes. Below are the latest additions to Tech Charts watchlist from Global equities that are close to breakout confirmation levels. These charts will be discussed in the weekend report as well.

Read more

CRYPTOCURRENCIES – August 4, 2025

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BTCUSD cleared the upper boundary of its possible H&S continuation to new all-time highs. Monitoring price action for a pullback to the broken neckline. ETH starts outperforming BTC in the short-term, re-test of previous lows can form a possible double bottom on the ratio.

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GLOBAL EQUITY MARKETS – August 2, 2025

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) did a round trip after the sharp sell-off and reached its all-time highs around 123.5 levels. The fact that the ETF cleared its 200-day average and moved significantly above it can be analyzed long-term positive as pullbacks and consolidations are likely to find support above the 200-day. After clearing the horizontal resistance at 123.5 and the minor high at 127 levels, 123.5-127 area will act as support during any pullback. A possible trend channel might be forming with price testing its lower boundary with Friday’s sell-off. Breakdown below the lower boundary of the trend channel can result in a correction towards the horizontal support at 123.5 levels.

 

 

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GLOBAL EQUITY MARKETS – July 26, 2025

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) did a round trip after the sharp sell-off and reached its all-time highs around 123.5 levels. The fact that the ETF cleared its 200-day average and moved significantly above it can be analyzed long-term positive as pullbacks and consolidations are likely to find support above the 200-day. After clearing the horizontal resistance at 123.5 and the minor high at 127 levels, 123.5-127 area will act as support during any pullback. The ETF completed a short-term bullish flag that is acting as a continuation chart pattern. Outlook is positive for Global Equities. The ETF is resuming higher. Short-term support stands at 130 levels.

 

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PINE SCRIPT CODE FOR ATR TRAILING STOP-LOSS

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Several years ago I came across a website as I was searching for coding a trailing stop-loss on MetaStock. A website called Trader Nexus helped me to better understand what a Chandelier Exit is with several great examples and some sort of a plug in DLL specifically designed for MetaStock formula language. Over the years I made some modifications to the ATR based trailing stop-loss.

Recently I spent couple of long hours on Trading View to understand and formulate the similar ATR based trailing stop by using their formula language, pine script. I think I was able to plot the indicator and I’m sharing it here with out members. I plan to integrate more and more Trading View functionalities to Tech Charts reports and website.

If you are interested in giving the platform a try here is your discounted link (Try Trading View with an initial discount)

I named it Simplified ATR Trailing Stop because so much more can be done with it by adding different calculations, such as price projections based on the initial risk etc. I will continue to build on this in the following posts. Let’s look at the below box for parameters.

Read more