The indicator displays possible StopLoss levels on the price chart. Levels are shown separately for Long and Short positions.
It has two parameters:
- Period - calculation period;
- Coefficient - distance from the price.
Calculation:
-
If Close[i] < TS[i-1] and Close[i-1] < TS[i-1]
TS[i] = Min(TS[i-1], Close[i] + loss) -
Если Close[i] > TS[i-1]
TS[i] = Close[i] - loss -
If Close[i] < TS[i-1]
TS[i] = Close[i] + loss
where
loss = Coeff*WMA(Diff, Period), WMA - Wilder Exponential Moving Average, Diff[i] = Max(HiLo, Href, Lref), HiLo[i] = Min(High[i] - Low[i], MVA(High - Low, Period))
-
If Low[i]<=High[i-1]
Href[i] = High[i] - Close[i-1] -
If Low[i]>High[i-1]
Href[i] = (High[i] + High[i-1] - Low[i] - Close[i-1])/2 -
If High[i]>=Low[i-1]
Lref[i] = Close[i-1] - Low[i] -
If High[i]<Low[i-1]
Lref[i] = (Close[i-1] + High[i] - Low[i-1] - Low[i])/2
