One more version of Atr trailing stop (and take profit) indicator posted here (that is a metatrader indicator there, not a tradestation version) : https://www.mql5.com/en/forum
Chandelier exit - indicator for MetaTrader 5
Developed by Charles Le Beau and featured in Alexander Elder's books, the Chandelier Exit sets a trailing stop-loss based on the Average True Range (ATR). The indicator is designed to keep traders in a trend and prevent an early exit as long as the trend extends. Typically, the Chandelier Exit will be above prices during a downtrend and below prices during an uptrend.
Forum on trading, automated trading systems and testing trading strategies
Which strategy is best to close the position?
Sergey Golubev, 2018.03.27 06:56
Try to use this indicator.
NRTR_Revers - expert for MetaTrader 5
The EA is only working at the moment when a new bar appears (except for trailing that is active at each tick). Trade signals are formed based on indicator iATR (Average True Range, ATR) on the analysis of the High and the Low of prices within the interval.
MA on ATR - indicator for MetaTrader 4
Nothing special. Just the Moving Average indicator by the values of the Average True Range indicator.
ATR arrow level - indicator for MetaTrader 5
The ATR arrow level indicator is a small modification of the standard iATR (Average True Range, ATR). The essence of his work: if the ATR indicator turns out to be less than the specified " ATR: level ", then the icon from the Wingdings font is displayed on such a bar above its maximum price (the character code is specified in " Code (fonts Wingdings) ").
ATR EA - expert for MetaTrader 5
The EA is based on ATR indicator which was described on the following page: https://www.metatrader5.com/en/terminal/help/indicators/oscillators/atr -
Average True Range Technical Indicator (ATR) is an indicator that shows volatility of the market. It was introduced by Welles Wilder in his book "New concepts in technical trading systems". This indicator has been used as a component of numerous other indicators and trading systems ever since.
Average True Range can often reach a high value at the bottom of the market after a sheer fall in prices occasioned by panic selling. Low values of the indicator are typical for the periods of sideways movement of long duration which happen at the top of the market and during consolidation. Average True Range can be interpreted according to the same principles as other volatility indicators. The principle of forecasting based on this indicator can be worded the following way: the higher the value of the indicator, the higher the probability of a trend change; the lower the indicator’s value, the weaker the trend’s movement is.