• Overview
  • Reviews (1)
  • Comments (3)

KL 4X Cross ATR

4X_Cross_ATR massively helps the professional traders who rely on specific indicators like ATR to quickly identify appropriate levels for SL and TP.

4X_Cross_ATR displays two horizontal lines above and below the current price the crosshair is pointing at. It is easy to see now if former support or resistance levels are in that range. If not, ATR-levels might indicate appropriate values for SL and TP.

Note: The free version can be found here: https://www.mql5.com/en/market/product/14183. Free version can only work on CADCHF, CHFJPY and USDPLN symbols.

By using keys S for sell and B for buy, 4X_Cross_ATR is placing one or two equal orders with SL and TP set on crosshair ATR levels, and with crosshair level as order open price level.

According to crosshair level position EA automatically knows order type. Also, before placing the order EA is showing confirmation window with the order parameters.

Lot size of the orders is calculated according to set risk of your account balance and divided per order. To let increase profits, the second order has not set Take Profit.

You don't need to be precise while you are trying to place market order because the order in spread area will be placed at the current market price.

4X_Cross_ATR uses following keys:

  • Key M switches on/off crosshair with ATR levels and enables EA trading.
  • Key S for sell is placing two the same orders with SL and TP set on ATR levels, but second order is without TP.
  • Key B does the same action what key S does but for opposite orders type.
  • Key D is deleting all pending orders on the current chart.
  • Keys comma and dot (in many cases with <>) can increase or decrease distance of horizontal ATR lines if they are needed to be adjust to support or resistance levels.
  • Key U in 5 steps loop multiplies distance of the upper line, so you can set RR ratio different from 1:1.
  • Key L in 5 steps loop multiplies distance of the lower line - for RR ratio different from 1:1.

In setting you can set

  • percentage risk value of your account balance,
  • placing of one or two equal orders,
  • pips distance added to spread that can facilitate placing the market orders with low spread,
  • you can force calculating daily ATR on every chart period,
  • ATR averaging period,
  • color and style of crosshair lines.
Willfried Wienholt
2016.02.09 14:37 

This tool is very easy to use and it simplified my trading activities a lot. Well done, indeed.