previous highs). They give us a good possible reversal targets. They are most popular and most traders are checking them. Parabolic SAR is another popular trailing stop loss indicator, although it is not based on ATR. This is my favorite combination. The Hikkake candle pattern represents the failure of the inside bar. It is important that the breakout thru the opposite side occur within 2-3 bars of the original breakout. The indicator may get you out of trades too early or too late on some occasions. A moving average can also function as a trailing stop loss. You simply change settings for current instrument based on history price action.
The black levels point out to the patterns high and low. When it comes to ATR trailing stop 30 minutes and 1 hour time frames, I watch for weekly and monthly pivots. They are build from two parts: short term averages group and long term averages group. Trailing stops can also get programmed into algorithmic trading strategies. Lets analyze it step by step.