ATR Stop Loss bands - indicator for MetaTrader 5
- 2022.11.07 00:48
- 2023.08.06 21:08
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
This tool outlines extremes made by the prices within the selected window size. This is achieved by estimating the underlying trend in the price using kernel smoothing, calculating the mean absolute deviations from it, and adding/subtracting it from the estimated underlying trend. Originally Made By LuxAlgo. Coded in MT5 format.Chart Window MACD
The indicator is an equivalent \"Chart Window\" version of MACD.