LeMogwai

Parabolic Stop

Parbolic Stop is a mix between the indicator Parabolic SAR , Volatility Stop and an SMA .

The goal of this indicator is to place your stop loss in an optimized spot. You can also combine the indicator switch from different timeframes to get buy or sell signal.
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study(title="Parabolic Stop", shorttitle="StopAR", overlay=true)
start = input(0.02)
increment = input(0.05)
maximum = input(0.2)
sar = sar(start, increment, maximum)
length = input(20)
smaclose= sma(close, 3*length)
smahigh = sma(high, 3*length)
smalow = sma(low, 3*length)
mult = input(4)
atr_ = atr(length)
max1 = max(nz(max_[1]), close)
min1 = min(nz(min_[1]), close)
is_uptrend_prev = nz(is_uptrend[1], true)
stop = is_uptrend_prev ? max1 - mult * atr_ : min1 + mult * atr_
vstop_prev = nz(vstop[1])
vstop_prev2 = nz(vstop[2])
vstop1 = is_uptrend_prev ? min(max(vstop_prev, stop), sar): max(min(vstop_prev, stop), sar)
is_uptrend = close - vstop1 >= 0
is_trend_changed = is_uptrend != is_uptrend_prev
max_ = is_trend_changed ? close : max1
min_ = is_trend_changed ? close : min1
vstop = is_trend_changed ? is_uptrend ? max(max_ - mult * atr_, sar) : min(min_ + mult * atr_, sar) : vstop1
p1 = plot(vstop, color = is_uptrend ? aqua : fuchsia, style = line, linewidth=2)
sma = is_uptrend?smaclose : smaclose
p2 = plot(sma, color = white, linewidth=2)
Does someone know how to update the script to V3. Got always the undeclared identifier issue. Thank you very much in advance
Resposta
I love using this Parabolic Stop. I would like to have a code added that would also plot a line 6% above this Parabolic Stop indicator.
I know it should be simple to do but I don't understand how to code very well in the Tradingview platform.
Any help would be greatly appreciated.
Thanks, Arthur L Wells
Resposta
SobishSoman ArtWells
@ArtWells, time frame .. it's nice crude
Resposta
ArtWells SobishSoman
@SobishSoman, Thanks SobishSoman for the reply.
Resposta
SobishSoman ArtWells
@ArtWells,
Any new version available
Resposta
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