OPEN-SOURCE SCRIPT

Enhanced UT Bot with Long & Short Trades

This Pine Script implements a UT Bot Strategy based on ATR (Average True Range) trailing stop levels to generate buy and sell signals. It features:

Customizable Sensitivity:

Adjust the Key Value and ATR Period to control signal sensitivity.
Trailing Stop Logic:

A dynamic trailing stop tracks price movements based on ATR, switching between buy and sell zones.
Trade Automation:

Uses strategy.entry and strategy.close to automate long and short trades.
Triggers webhook alerts for buy and sell signals (UT Bot Buy and UT Bot Sell).
Visual Signals:

Displays trailing stop levels on the chart.
Plots buy/sell labels when crossover or crossunder events occur.
Webhook Integration:

Supports automated trade execution via webhook alerts.
Ideal for traders looking for a simple yet effective ATR-based trading strategy that works with automated systems like webhook triggers.

כתב ויתור