Parameter

Description

Display

Opens sub-window to set parameters

•      Color = Line color.

•      Weight = Line thickness.

•      Display = Line style: line or histogram.

•      Display = GapHigher, GapOpen, or Dash.

•      ShareScale = Determines whether sharing of the vertical scales between studies is accepted. Auto = System determine whether sharing is feasible. On = Scale is shared regardless of the functions and studies displayed. Off = Scale is not shared. ShareScale must be On if study is overlaid on a study with multiple outputs.

Base

Price used for the calculation.

Ago

Number of bars back that the calculation should begin.

Min/Max

If selected, the stop value is the lowest (highest) base price occurring during the period the stop is active.

Factor

Amount by which the average range is multiplied by before it is added to the base. Higher factors result in looser stops and, therefore, less switching between long and short.

TrueRange

If selected, the average of the true range, rather than the range, is used in the calculation.

Type

Moving average calculation. Values:

•      Simple

•      Smoothed

•      Exponential

•      Weighted

•      Centered

Period

Number of bars in the lookback range.

BackOff

If selected, stops are adjusted for increased volatility. Sell stops are raised and buy stops are lowered.

StopOn

Values:

•      hilo

•      close

Rev If Equal

If selected, a signal is reversed when the bar high or low is equal to a stop value, rather than according to penetration.

At Tick

If selected, the value is plotted at the nearest tradable price away from the market. In other words, when the volatility stop price is below the bar price, it becomes the floor price, and when the volatility stop price is above the market, it becomes the ceiling price.

If not selected, the volatility stop value is shown at its exact price.

Condition

If selected, turns on automatic reversing. No positions are put on unless this condition is true.