This is based on SuperTrend by Kivanc. I only added the position size calculation and displaying the result.
Siguiendo el verdadero espíritu de TradingView, el autor de este script lo ha publicado en código abierto, para que los traders puedan entenderlo y verificarlo. ¡Un hurra por el autor! Puede utilizarlo de forma gratuita, aunque si vuelve a utilizar este código en una publicación, debe cumplir con las Normas internas. Puede marcarlo como favorito para usarlo en un gráfico.
If your question was actually regarding the SuperTrend lines, then this is also easy: when it is green the sentiment for the asset is bullish and the green line shows you your stop loss level. When the price drops below the green line, the indicator switches direction to indicate bearish sentiment in which case the line would turn red and it would be on top of the price to show the stop loss level for shorting. Hope this helped.
The settings affecting the stop loss level are basically the ATR period, ATR Multiplier and the ATR calculation method. Larger period will give you late changes whereas a larger multiplier will widen your stop losses. The calculation method will change the way the volatility is calculated so it will have some impact on where the stop loss is drawn as well. I would say that these are a bit more of a personal kind settings.
And each trader will have slightly different favorite settings. I myself don't change these settings. But if the security you are trading is too volatile then of course some adjustments may be needed to avoid too many signals being generated. Or maybe changing the timeframe might help.