Hi @Streak
Im currently working with ATR Trailing Stop Loss indicator in Streak and wanted to understand the formula behind it and how it works. How the upper and lower bands are calculated?
If I say close price crosses above ATR Trailing Stop Loss (Here Im curious to understand how the value is derived)
With (ATR * Multiplier) + or - with previous close / Previous Ema 1? Can you help me with the logic behind this specific indicator?
Please note that the formula used to calculate the ATR trailing stop loss is the same as the one used in the charts. You can refer to the charts for the same indicator name.
For example, the condition “close price crosses above ATR trailing stop loss” requires that previously a candle must have closed below the ATR trailing stop loss level, and the current close price must cross above this level for the condition to be true. Refer the image below:
Hope this helps.
