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
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