Key Features

- ATR-Based Dynamic Stop: Automatically adapts trailing stop distance to current market volatility - wider in volatile conditions, tighter in calm markets

- Clear Visual Signals: Lime band for uptrend, crimson band for downtrend - spot trend direction at a glance without cluttering your chart

- Optional Alerts: Enable popup notifications and sound alerts to stay informed of trend changes even when away from your screen

- Bar Coloring on Signals: Bars color instantly on trend reversal, giving you visual confirmation when price crosses the trailing stop level

How It Works

UT Bot calculates a trailing stop based on the ATR Period multiplied by your Sensitivity setting. When price is above the stop, the trend is bullish. When price crosses below, the trend reverses to bearish. The indicator tracks these transitions and colors bars to signal potential entries or exits.

The trailing stop only moves in the direction of the trend - it rises during uptrends and falls during downtrends, locking in gains while giving trades room to breathe.

Parameters

Core Settings

- ATR Period (Default: 10): Number of bars used to calculate the Average True Range. Higher values = smoother but slower signals

- Sensitivity (Default: 3.0): Multiplier for ATR distance. Higher values create a wider trailing stop (fewer false signals, later entries). Lower values create tighter stops (more signals, more false reversals)

Alert Settings

- Enable Notifications (Default: False): Show popup alerts when trend changes

- Enable Sound (Default: False): Play sound when trend changes (positive sound for bullish, negative for bearish)

Ideal For

- Trend traders who need dynamic stop loss placement

- Traders wanting clear visual trend direction

- Those looking for a mechanical trend-following system

- Scalpers to swing traders (adjust Sensitivity accordingly)

Tips

- Scalping: Use ATR Period 5-7, Sensitivity 1.5-2.0 for quicker signals

- Swing Trading: Use ATR Period 10-14, Sensitivity 3.0-4.0 for fewer false signals

- Confirmation: Combine with volume or other indicators for higher-probability entries