Chaloke Modified ATR Trailing
The Chaloke Modified ATR Trailing is an Amibroker AFL (AmiBroker Formula Language) used to implement a modified version of the Average True Range (ATR) trailing stop strategy. Traders employing this AFL can enhance their risk management techniques by using trailing stops based on market volatility. With the assistance of Amibroker Data Feeder, they can access real-time price and ATR data to apply the Chaloke Modified ATR Trailing strategy effectively.
_SECTION_BEGIN("Chaloke Modified ATR Trailing Stop");
///Chaloke Modified ATR Trailing Stop///
Prev=Ref(HHV(H-2.5*ATR(5),10),-BarsSince(C>HHV(H-2.5*ATR(5),10) AND C>Ref(C,-1)));
A=IIf( Cum(1)<16 , C,
IIf( C > HHV(H-2.5*ATR(5),10) AND C > Ref(C,-1),HHV(H-2.5*ATR(5),10),
Prev));
Plot(A,"Chaloke Modified ATR Trailing Stop",colorBlack,4);
Color=IIf(C>A,colorBrightGreen,IIf(C<A,colorRed,colorBlack));
Plot(C,"",color,styleCandle);
PlotShapes(shapeDownArrow*Cross(A,C),colorBlue,0,H,Offset=-24);
GraphXSpace=3;
_SECTION_END();