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Hi everyone
I don't use Easy Language but I found this code and I would like some help understanding what the first "Sell next bar" means:
1) for every bar since the buy, calculate the average true range for the past 50 bars and set a stop for the next bar at this bar's close minus twice the ATR -> the stop level is changed continuously
OR
2) at buy's bar, calculate the average true range for the past 50 bars, calculate the stop level at buy's bar's close minus twice the ATR, and then for each bar since the buy set a stop at the calculated level -> the stop level is fixated at the buy signal
Which one (or maybe none) is the right interpretation?
Thanks
Can you help answer these questions from other members on NexusFi?
You're very close with (1), except that it's not 'for every bar since the buy'.
The script calculates its variables with every calculation, on every bar (without depending on the buy):
It then submits the stop:
Since the `Close` and `average_daily_range` change with each calculation, your first interpretation is correct: the stop changes with each script calculation.