ATR Stops

//@version=1
study(title="ATR Stops", overlay = true)

nATRPeriod = input(5)
nATRMultip = input(3.5)

xATR = atr(nATRPeriod)
nLoss = nATRMultip * xATR

xATRTrailingStop = iff(close > nz(xATRTrailingStop[1], 0) and close[1] > nz(xATRTrailingStop[1], 0), max(nz(xATRTrailingStop[1]), close - nLoss),
                    iff(close < nz(xATRTrailingStop[1], 0) and close[1] < nz(xATRTrailingStop[1], 0), min(nz(xATRTrailingStop[1]), close + nLoss), 
                        iff(close > nz(xATRTrailingStop[1], 0), close - nLoss, close + nLoss)))

pos =	iff(close[1] < nz(xATRTrailingStop[1], 0) and close > nz(xATRTrailingStop[1], 0), 1,
	    iff(close[1] > nz(xATRTrailingStop[1], 0) and close < nz(xATRTrailingStop[1], 0), -1, nz(pos[1], 0))) 

color = pos == -1 ? red: pos == 1 ? green : blue 

plot(xATRTrailingStop, color=color, title="ATR Trailing Stop")