Elder’s Safe Zone indicator is Alexander Elder’s safe zone. The indicator calculates the minimum stop loss size, so that it is not far from the price for maintaining profit, and not too close to the price, so that the noise does not prematurely interferes with stop positions.
The indicator has three input parameters:
ESZ Period – Safe Zone calculation period
Stop factor – Safe Zone line shift from the price
EMA period – EMA calculation period for defining the price direction
