Stop Loss Line
Definining the best location for placing a stop order after entering the market is one of the most complex issues in the technical analysis. This indicator shows where to place and how to move a stop order, so that it remains close enough to the price for the capital protection and far enough to avoid occasional fluctuations. The program measures the noise level and displays suitable stop order locations at the distance multiple of the market noise level.
The indicator has two variables:
- Koef – ratio that manages the distance from the market noise. The greater the ratio, the greater the distance.
- KontrPer – control period; amount of bars used to calculate the occasional price fluctuatuation level.