Advanced Stop Loss Indicator
Some traders experience difficulties when it comes to limiting risks. This indicator helps traders define a suitable stop loss to limit trading risks. The indicator provides seven levels of risk limitation (recommended values are 1-3). The greater the risk, the greater the stop loss. Accordingly, the lower the risk, the smaller the stop loss, but the greater the probability of false triggering.
In addition, the indicator shows trend signals and the current trend strength. This data can be used to confirm your trading signals. The indicator can be used in EAs.
- Price to cross - price a stop level should cross to change direction.
- Show signals? - show/hide direction change arrows.
- Risk - risk level (1-7).
- Modiffy chart? - if true, the indicator disables the grid in the chart properties and changes the chart type to the candle one.
- Use Alert? - enable/disable alert.
- Alert on bar close? - if true, alert is triggered after closing a bar, otherwise, right after the price touches the stop level.
- Send mail? - enable/disable email notifications.
- Send notification? - enable/disable push notifications.
- Use informer? - enable/disable the informer.
- X position/Y position - used for placing the informer on the chart.
- Text size - informer text size.
Keep your trading under control! Use correct stop loss to increase profitability.