DinexSpace ATR Stop Levels
- Indicators
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Huu Tho Tran
DinexSpace - trading automation studio for MetaTrader 5.
We validate your trading idea with real costs in two stages before we code it. If the idea fails validation, we stop - you don't pay for the bot.
Live track record - Version: 1.0
ATR Stop Levels draws price levels a chosen number of ATRs below and above the current price. It shows at a glance where a volatility-based stop would sit for a long or a short position, without measuring by hand.
How it works
- ATR (Average True Range) measures the typical bar range. You can smooth it with RMA (Wilder's original method), SMA or EMA.
- Up to three multipliers (1.5, 2 and 3 by default). Each draws a dashed level below price and one above, with a label showing the price and the distance in percent.
- "Measure from" sets the starting point. With Close, both levels start from the close. With High / Low, the level below starts from the bar high and the level above from the bar low.
- A panel lists the ATR, the ATR as a percent of price and the size of each multiplier in price and percent.
- An optional dotted line shows where level 2 was on every past bar. It is a plain distance from price, not a trailing stop.
Inputs
- ATR: length, smoothing, measure from.
- Multipliers: three levels, each with its own switch.
- Display: colours, which side to show, line length and extension, labels, level 2 history, panel and its corner.
Limits
- The levels move with every new bar and every tick on the current bar. They are a reference for sizing a stop, not orders.
- ATR describes past ranges only. A gap or a news spike can move price well past any level.
The indicator only draws levels. It does not trade or give signals.
