Mod ATR Trailing Stop MT5 Indicator

January 8, 2020

832

The indicator displays possible StopLoss levels on the price chart. Levels are shown separately for Long and Short positions.

It has two parameters:

Period – calculation period;
Coefficient – distance from the price.

Calculation:

If Close[i] < TS[i-1] and Close[i-1] < TS[i-1]
TS[i] = Min(TS[i-1], Close[i] + loss)
Если Close[i] > TS[i-1]
TS[i] = Close[i] – loss
If Close[i] < TS[i-1]
TS[i] = Close[i] + loss

where

loss = Coeff*WMA(Diff, Period),
WMA - Wilder Exponential Moving Average,
Diff[i] = Max(HiLo, Href, Lref),
HiLo[i] = Min(High[i] - Low[i], MVA(High - Low, Period))

If Low[i]<=High[i-1]
Href[i] = High[i] – Close[i-1]
If Low[i]>High[i-1]
Href[i] = (High[i] + High[i-1] – Low[i] – Close[i-1])/2
If High[i]>=Low[i-1]
Lref[i] = Close[i-1] – Low[i]
If High[i]<Low[i-1]
Lref[i] = (Close[i-1] + High[i] – Low[i-1] – Low[i])/2

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