A third option is to use the Fractals present in the indicator. On a strong bullish trend, we use the Fractals (indicated by the little triangles) that are painted below the candles and set a stop at that candles low. The inverse is true for a bearish trend, where we use the Fractals that are painted above the candles and use the candle high to trail the trend.
This option leaves more room for the trend to pullback than the ATR Ribbon does. However, by using Fractals (which is a reversal pattern spanning 5 candles) we are fairly sure that if that Fractal structure does get broken a reversal is very likely.