Multi-LTF ATR Trailing Stop - AYNET

6 jam lalu

Simple Explanation of the Code
This Pine Script code implements a multi-timeframe ATR-based trailing stop indicator. It calculates and plots the trailing stop lines for up to six configurable timeframes. Users can enable or disable specific timeframes, and each trailing stop line is color-coded and labeled with the corresponding timeframe (e.g., "15m", "1H").

Key Features of the Code
Multi-Timeframe Support:

The script calculates trailing stops for six different timeframes, such as 15 minutes, 1 hour, 1 day, etc.
User Configurations:

The user can:
Select timeframes for each trailing stop (e.g., "15m", "1H").
Enable or disable each timeframe using checkboxes.
Adjust the ATR period and multiplier to customize the trailing stop calculation.
Color-Coded Lines:

Each timeframe's trailing stop is plotted with a unique color for easy distinction.
Labels for Timeframes:

Labels at the end of the lines indicate the timeframe of each trailing stop (e.g., "15m", "1H").

Summary
This code is a multi-timeframe ATR trailing stop tool that helps traders visualize and analyze trailing stops across multiple timeframes. It is customizable, dynamic, and visually intuitive, making it ideal for both trend-following and stop-loss management.