OPEN-SOURCE SCRIPT
Actualizado UT Bot v2 - ATR Trailing Stop
If you're familiar with the original UT Bot: the core logic is the same. This version focuses on cleaner visuals, improved code quality, better customization, built-in alerts, and integrated strategy support, while preserving the underlying ATR trailing stop methodology.
UT Bot v2 is a modernized implementation of the original UT Bot, built around the same ATR-based trailing stop logic that made the original popular.
The indicator uses an adaptive trailing stop based on the Average True Range (ATR). When price crosses the stop level, the trend state flips and a new trailing stop begins to form in the opposite direction.
Rather than changing the algorithm, this release focuses on making it clearer, easier to configure, and more practical for everyday use.
Features
Methodology
UT Bot v2 is not a predictive indicator. It does not attempt to forecast future price movements or identify exact market tops and bottoms.
Instead, it is a trend-following and risk management tool that dynamically adjusts its trailing stop using market volatility measured by ATR.
Like most trend-following systems, it tends to perform best during sustained directional moves and may generate whipsaws during ranging or low-volatility conditions.
Philosophy
The goal of UT Bot has always been to provide a simple, transparent, and systematic trailing stop framework, rather than a "holy grail" trading system.
This version preserves that philosophy while improving readability, customization, visualization, and integration with TradingView alerts and strategy testing.
UT Bot v2 is a modernized implementation of the original UT Bot, built around the same ATR-based trailing stop logic that made the original popular.
The indicator uses an adaptive trailing stop based on the Average True Range (ATR). When price crosses the stop level, the trend state flips and a new trailing stop begins to form in the opposite direction.
Rather than changing the algorithm, this release focuses on making it clearer, easier to configure, and more practical for everyday use.
Features
- Classic ATR trailing stop logic
- Clean and intuitive trend visualization
- Buy and sell signal markers
- Configurable ATR period and multiplier
- Customizable price source
- Built-in TradingView alerts
- Integrated strategy for backtesting
- Lightweight and easy to understand
Methodology
UT Bot v2 is not a predictive indicator. It does not attempt to forecast future price movements or identify exact market tops and bottoms.
Instead, it is a trend-following and risk management tool that dynamically adjusts its trailing stop using market volatility measured by ATR.
Like most trend-following systems, it tends to perform best during sustained directional moves and may generate whipsaws during ranging or low-volatility conditions.
Philosophy
The goal of UT Bot has always been to provide a simple, transparent, and systematic trailing stop framework, rather than a "holy grail" trading system.
This version preserves that philosophy while improving readability, customization, visualization, and integration with TradingView alerts and strategy testing.
Notas de prensa
Added a backtesting rangeScript de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que cualquier republicación del código está sujeta a nuestras Normas internas.
Quant Developer | Pine Script v6 | Python & R
12+ yrs system. trading, hedge fund experience
Indicators, strategies & screeners
Futures & options
💼 Hire/Consulting:
qntly.com/hire
🎓 Pine Code With AI:
qntly.com/pineai
12+ yrs system. trading, hedge fund experience
Indicators, strategies & screeners
Futures & options
💼 Hire/Consulting:
qntly.com/hire
🎓 Pine Code With AI:
qntly.com/pineai
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que cualquier republicación del código está sujeta a nuestras Normas internas.
Quant Developer | Pine Script v6 | Python & R
12+ yrs system. trading, hedge fund experience
Indicators, strategies & screeners
Futures & options
💼 Hire/Consulting:
qntly.com/hire
🎓 Pine Code With AI:
qntly.com/pineai
12+ yrs system. trading, hedge fund experience
Indicators, strategies & screeners
Futures & options
💼 Hire/Consulting:
qntly.com/hire
🎓 Pine Code With AI:
qntly.com/pineai
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.