Elder's Safezone Stop - SZ

 

Parameters:

• Coefficient - Coefficient value
• Color - SZ plot color
• Line Type - The type of plot to draw
• Lookback Period - The lookback period to use.
• No Decline Period - The no decline period to use
• Position - The position to take, either long or short.
  

Description:

  The "SafeZone Stop" indicator is described in Dr. Alexander Elder's book _Come Into My Trading Room_, p.173

Formula Reference:

Syntax	SZ(Position, Lookback Period, No Decline Period, Coefficient)
Function	Position is either Long or Short
Example	SZ(Long, 10, 2, 2.5)