MT4 ATR Stops
- Indicators
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Xin You Lin
Xin You Lin | Quantitative Trading System Engineer · Economist · Full Stack Developer of MQL4/MQL5 - Version: 1.12
- Activations: 5
MT4 ATR Stops indicator introduction:
This is a dynamic support resistance indicator based on average true volatility (ATR) that calculates the volatility of the price, plots the channel on a K chart, and suggests trading timing with intuitive color and dot-like signals.
Open and close positions
1. Go long (go long)
Signal feature: The color of the K line changes to green, and a green dot appears on the chart.
Logic: Price broke above the dynamic upper track resistance calculated by ATR, indicating strong short-term upward momentum.
2. Open a short position (short position)
Signal feature: The color of the K line changes to red, and a red dot appears on the chart.
Logic: The price fell below the support of the dynamic downtrack calculated by the ATR, indicating strong short-term downward momentum.
3. Close positions (long or short orders)
Signal characteristics: When there is a signal contrary to the direction of your current position, it is the time to close the position.
Close long positions: When there is a red K line and a red dot (that is, an open short position signal), close long orders.
Close a short position: When there is a green K line and green dot (that is, open a long position signal), the short order should be closed.
Summary of index characteristics
Core setup: ATR period 10 and moving average period 2 are used to construct a responsive dynamic channel.
Visual intuition: Through the Display atr stops + candles mode, the K-line color is combined with precise signal points to clearly display the breakout and break positions.
Alarm function: According to the parameter Settings, a message box can pop up to prompt.
