Mod ATR Trailing Stop Loss Indicator for MT5

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Mod ATR Trailing Stop Loss Indicator for MT5

Introduction to the Mod ATR Trailing Stop Loss Indicator

One method traders use to identify trend direction and trend reversals is with the use of a multiple of the Average True Range (ATR). Traders simply multiply the ATR with a fixed multiplier and mark a distance opposite the direction of the trend coming from the extreme of price in the direction of the trend. The assumption is that price action should not reverse against its price extreme by more than a certain multiple of the ATR or else the trend would be void. The Mod ATR Trailing Stop Loss Indicator is based on this concept of using ATR to identify trend.

What is the Mod ATR Trailing Stop Loss Indicator?

The Mod ATR Trailing Stop Loss Indicator is a custom technical indicator which is a trailing stop loss indicator based on the Average True Range (ATR).

It plots a green line below price action to whenever the market is in an uptrend to indicate the level where price is very unlikely to reach as long as the market is still in an uptrend.

omvendt, it also plots a red line above price action if the market is in a downtrend. This indicates the level where price is unlikely to breach as long as the downtrend is still in place.

Mod ATR Trailing Stop Loss Indicator for MT5

How the Mod ATR Trailing Stop Loss Indicator Works?

The Mod ATR Trailing Stop Loss Indicator uses an underlying ATR to compute for the distance between price action and the trailing stop loss. It multiplies the ATR with a multiplier or coefficient and plots the line. I en optrend, it would subtract the product from the latest high to indicate the trailing stop loss line. I en nedtrend, it would instead add the product to the low to plot the trailing stop loss level.

How to use the Mod ATR Trailing Stop Loss Indicator for MT5

This indicator has two variables that can be used to modify the distance of the trailing stop loss line.

“Period” refers to the number of bars the indicator would use to compute for the ATR.

“Coefficient” refers to the multiplier used to measure the distance between the extreme price of the trend and the trailing stop loss.

How to use the Mod ATR Trailing Stop Loss Indicator for MT5

Although this indicator was developed to indicate a trailing stop loss, it can also be used to identify trend direction and trend reversals. Traders would simply look at the location of price action in relation to the line and trade in the direction of the trend.

Køb Handel opsætning

Hvornår skal indtastes?

Price action should be above the green line. Wait for price to retrace near the green line. Open a buy order as price action shows signs of a bullish momentum reversal. Set the stop loss below the green line.

Hvornår skal afsluttes?

Luk handlen, så snart prishandling viser tegn på en bearish vending.

How to use the Mod ATR Trailing Stop Loss Indicator for MT5 - Køb handel

Sælg Handel opsætning

Hvornår skal indtastes?

Price action should be below the red line. Wait for price to retrace near the red line. Open a sell order as price action shows signs of a bearish momentum reversal. Indstille stoptabet over den røde linje.

Hvornår skal afsluttes?

Luk handlen, så snart prishandling viser tegn på en bullish vending.

How to use the Mod ATR Trailing Stop Loss Indicator for MT5 - Sælg Handel

Konklusion

Although the Mod ATR Trailing Stop Loss Indicator was developed for the purpose of identifying clear stop loss levels, it is still an excellent trend following indicator. Traders can use this to filter out low probability trades going against the trend and wait for opportunities near these lines.

MT5-indikatorer – Download instruktioner

Mod ATR Trailing Stop Loss Indicator for MT5 is a Metatrader 5 (kr.) indikator, og essensen af denne tekniske indikator er at omdanne de akkumulerede.

Mod ATR Trailing Stop Loss Indicator for MT5 provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.

Baseret på disse oplysninger, erhvervsdrivende kan påtage sig yderligere prisbevægelser og justere deres strategi i overensstemmelse hermed. Klik her for MT5 Strategier

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How to install Mod ATR Trailing Stop Loss Indicator for MT5.mq5 to your MetaTrader 5 Diagram?

  • Download Mod ATR Trailing Stop Loss Indicator for MT5.mq5
  • Copy Mod ATR Trailing Stop Loss Indicator for MT5.mq5 to your Metatrader 5 Register / Eksperter / Indikatorer /
  • Start eller genstart din Metatrader 5 Klient
  • Vælg Diagram og tidsramme, hvor du vil teste mt5-indikatoren
  • Søg “Brugerdefinerede indikatorer” i din Navigator, der for det meste er tilbage i din Metatrader 5 Klient
  • Right click on Mod ATR Trailing Stop Loss Indicator for MT5.mq5
  • Vedhæfte til et diagram
  • Rediger indstillinger, eller tryk på ok
  • Indicator Mod ATR Trailing Stop Loss Indicator for MT5.mq4 is available on your Chart

How to remove Mod ATR Trailing Stop Loss Indicator for MT5.mq5 from your Metatrader 5 Diagram?

  • Vælg det diagram, hvor indikatoren kører i din Metatrader 5 Klient
  • Højreklik i diagrammet
  • “Liste over indikatorer”
  • Vælg indikatoren, og slet

Mod ATR Trailing Stop Loss Indicator for MT5 (Gratis download)

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