How to automatically calculate ATR stop loss
- You don't want 1.5%. You want 1.5 times ATR.
- No conversion needed, it's already a change of price. No point converting n ATR to pips when you have to that back to a price offset. SL = Anchor ± 1.5 * ATR.
- 0.00087 is 8.7 PIPs or 87 points.
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Thank you so much! :)
Hi,
If my ATR= 0.00087 and price: 0.69111 and I want 1.5% stop loss. How do I calculate this with EA?
Is the following correct? Convert ATR to whole number from 0.00087 to 87 * 1.5 = 130 pips. Am I correct? if so how do I convert it to code. Especially the digit conversion from 0.00087 to 87, how do do this?. Thank you