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Average True Range (ATR) Stop Losses
Can anybody tell me where you can get the Average True Range indicator online?
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comes free with incredible charts but you have to work the stops out yrself. Pretty easy to do in yr head once you've got the formula sussed. There are a variety of formulas but simplest is CP-(2xATR). Can use 3xATR for more volatile stocks.
CP= Closing Price.
Remember stops should only go up and never be adjusted downwards.
Disc: I am an amateur chartist only. Please DYOR and if you find anything contrary to my opinions please do share.
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