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Indicators

ATR Stop Loss bands - indicator for MetaTrader 5

Serhad Yildirim
Views:
8603
Rating:
(25)
Published:
2022.11.07 00:48
Updated:
2023.08.06 21:08
Download as ZIP, How to download code from MetaEditor

This indicator is used for stop loss placements with ATR as reference and comes in two lines with equal distance from a moving average.

The indicator can also be used for safety measuring of trade entries by using it as a price breakout filter, meaning if price moves too far from your baseline then price would be too directly volatile for a safe trade.

The input settings are

  • ATR period: ATR period, default at 14
  • ATR factor: ATR factor, most used factor is 1.5
  • MA period: Moving average period, 1 resembles price action
  • MA method: Moving average method, choose from SMA, EMA, SMMA and LWMA


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