SafeZone Stop
SafeZone stop (Alexander Elder): a stop set from the average penetration of previous lows or highs, giving trend-following trades room for normal noise.
How to read it
- The long stop sits below the last low, the short stop above the last high.
- The distance adapts to how far bars usually poke beyond the previous bar.
- Each stop is held at its best value of recent bars, so it does not step back quickly.
Key settings
- Length 10, coefficient 2.5, hold bars 3.
Good to know
- Drawn on the price pane, over the candles.