Elder’s Safe Zone Triple indicator is Alexander Elder’s safe zone. Unlike Elder’s Safe Zone, the indicator is able to display three lines with different settings. 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 stop positions.
The indicator has nine adjustable parameters:
First ESZ Period – first line Safe Zone calculation period
First Stop factor – value of Safe Zone line shift from the first line price
First EMA period – EMA calculation period for defining the first line price direction
Second ESZ Period – second line Safe Zone calculation period
Second Stop factor – value of Safe Zone line shift from the second line price
Second EMA period – EMA calculation period for defining the second line price direction
Third ESZ Period – third line Safe Zone calculation period
Third Stop factor – value of Safe Zone line shift from the third line price
Third EMA period – EMA calculation period for defining the third line price direction
