ATR Strategy Indicator Pinescript

These strategies are for demonstration purposes only and are not intended for actual trading. Saanmi Capital is not responsible for any profit or loss arising from the use of these sample strategies.

//@version=5
strategy(“ATR Strategy”, overlay=true)

// Input parameters
atr_length = input.int(14, title=”ATR Length”)
atr_multiplier = input.float(2.0, title=”ATR Multiplier”)

target_points = input.int(100, title=”Target Points”)
stop_loss_points = input.int(50, title=”Stop Loss Points”)

// Calculate ATR
atr = ta.atr(atr_length)

// Strategy logic
long_condition = close > ta.sma(close, atr_length) + atr_multiplier * atr
short_condition = close < ta.sma(close, atr_length) – atr_multiplier * atr

// Plot ATR
plot(atr, color=color.blue, title=”ATR”)

// Strategy entry and exit
if long_condition
strategy.entry(“Long”, strategy.long)
if short_condition
strategy.entry(“Short”, strategy.short)

// Calculate target and stop loss levels
long_target = strategy.position_avg_price + target_points
long_stop_loss = strategy.position_avg_price – stop_loss_points
short_target = strategy.position_avg_price – target_points
short_stop_loss = strategy.position_avg_price + stop_loss_points

// Strategy exit
strategy.exit(“Long Exit”, “Long”, limit=long_target, stop=long_stop_loss)
strategy.exit(“Short Exit”, “Short”, limit=short_target, stop=short_stop_loss)