best ATR settings for driving a Trailing stop loss
Atr multiplier not be less than 2,5
Atr multiplier not be less than 2,5
OK, So my time period M15 should be less, like M5 in order to get smaller values.
What ever TF you use to enter, use the same for your trailing. A larger TF goes for bigger moves. The M5 ATR might be 8 PIPs; would you use that (or
twice that) on a D1 chart where every bar is eleven (11) times that?
OK, So my time period M15 should be less, like M5 in order to get smaller values.
it's not about which time frame you use, it's about which term you buy or sell according to criteria. If you mean trade term with a ' timeframe ' it is ok.
OK, and what are the ATR settings you are using for intraday trading?
I am not using ATR for trailing but it should be between 5 - 21 depends on your trade strategy
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Hello,
I have coded an EA for automatic trailing stop loss.
When a trade triggers a minimum profit value based on a percentage of my balance the EA compute the new stop loss based on the ATR indicator and if the new SL > current SL then the new SL is applied. The computed SL is always greater or equal than the order price.
For the ones who use the ATR indicator in order to drive the trailing stop loss could you share your settings for the best results for an intraday trading strategy?
Currently I am using the these settings:
PERIOD: M15
nbPeriods: 5
ATR MULTIPLIER: 1.5
Thank you