ATR Stop example trade
Here is a trade I carried over the weekend. I placed my pending buy stop at the ATR stop from a previous trend, set my t/p and s/l and walked away from it because my girlfriend spent the weekend and I wasn't by the computer. There was some price action downwards that I totally missed, you can see the price action got scared away by the 61% fibonacci twice. Technically I should've moved my pending buy stop down to the new red line but like I said I was away from the computer. Today when I checked in on the thing we had a gap up on the usd/jpy and I moved my s/l up accordingly. There was a slight dip in the price action and the RSI(8) and it actually tapped my s/l. I got in at 119.98 and got out at 120.17 for a profit of 19 pips. Had I been watching the computer more often I could've made more. After I got out the usd/jpy seems to have turned around a little bit on the 15 min. Anyway, good trading this week!
Another example with cartoon
Here is an example trade from last Thursday and the eur/usd. I drew a cartoon to help show when to get in an out. I look for peaks with the RSI, when it gets up around 80 I'm out, or when it gets down to around 17, I'm out.
I don't know if the ATR Stop indicator is the same one that is in this thread, I'll post the exact one I've been using. Oh yeah, I'll post the stat monitor so I don't get 20 emails, plus the two moving averages are: 8 EMA dashed yellow and 12 EMA solid two-pixel maroon. White line is 60 Simple MA.
Plase Help Me!!!! Who can do this in MT4? PLEASE!!!!
Take the ATR (7)(it can be changed) and multiply by 3(it can be changed). If you are looking for buy, this value is added to the lowest closing price, substracted from the highest close if you are looking to go short. It provides a barrier that tells us if the price is up or down.
See if this works for ya.
This indy has a bug that causes the arrow not to always show on historical data and this may also continue over into real-time drawing though the indicator itself performs just fine. Perhaps one of our gifted programmers can resolve this issue for you.
Otherwise, to remedy this issue, simply open the parameters of the indicator and close them for any missing arrows to display.
And the following threads may be related to this subject:
Another stop advisor.
THANK YOU very MUCH!!!!!
Most welcome, bro. Now go and get those pips!!!!
Something else for you guys. Closer to what slonmd requested. I forgot I had it.