ATR Stop Loss Finder MT5
- Göstergeler
- Sürüm: 1.0
- Etkinleştirmeler: 5
ATR Stop Loss Finder automatically calculates and displays dynamic
stop loss levels on your chart based on the Average True Range
indicator. The tool helps traders place logical, volatility-adjusted
stop loss orders rather than relying on fixed pip values or arbitrary
price levels.
The indicator plots two lines directly on the chart: an upper line
for short positions and a lower line for long positions. Both lines
update in real time with each new bar. A small information panel
at the bottom of the chart shows the current ATR value along with
the exact price levels for both lines.
How it works
The indicator calculates the Average True Range over a user-defined
period, multiplies it by a configurable factor, then adds the result
to the current bar high for the short stop loss and subtracts it from
the current bar low for the long stop loss.
Short Stop Loss = High + (ATR x Multiplier)
Long Stop Loss = Low - (ATR x Multiplier)
This approach ensures that stop loss distances expand during volatile
market conditions and contract when the market is calm, helping to
avoid premature stop-outs.
Smoothing methods
The ATR can be smoothed using any of the following methods:
- RMA (Wilder's Moving Average) — the classic ATR smoothing method
- SMA (Simple Moving Average)
- EMA (Exponential Moving Average)
- WMA (Weighted Moving Average)
Parameters
Period: Number of bars used to calculate the ATR. Default is 14.
Smoothing: Smoothing method for the ATR calculation. Default is RMA.
Multiplier: Factor applied to the ATR value. Default is 1.5.
Show Price Lines: Enables or disables the price level display.
ATR Text Color: Color of the text in the information panel.
Low Line Color: Color of the long stop loss line.
High Line Color: Color of the short stop loss line.
Low Text Color: Color of the low stop loss value in the panel.
High Text Color: Color of the high stop loss value in the panel.
Usage
Place the indicator on any symbol and timeframe. Observe the two
lines on the chart. For a long trade, use the lower teal line as
your stop loss reference. For a short trade, use the upper red line.
Increasing the multiplier widens the stop loss distance, which may
suit swing traders or highly volatile instruments. Reducing the
multiplier tightens the levels, which may be appropriate for
scalping or lower-volatility conditions.
The information panel at the bottom of the chart always shows the
current ATR value, the current short stop loss price, and the
current long stop loss price for quick reference.
Compatibility
The indicator is compatible with MetaTrader 5 and works on all
symbols and timeframes. It does not repaint. The lines are
recalculated on each new closed bar.
Support
For questions and support, please use the comments section of this
product page or contact the author through the MQL5 messaging system.
