The true average range (ATR) indicator is a volatility indicator that measures how much the price of an asset has been moving over some time, and how volatile the asset has been. MT5 Stop Indicators on Top-Trading-Indicators. Using a multiple of the ATR indicator is simple: 1X = 8. GG ATR Trailing Stop 5. You can choose which candle to start plotting from, ie. The multiplier of the ATR value. For this particular asset, the ATR remained below 1, and it moved within a narrow band of between 0. Auto Trailing Stop MT5. Locational ATR = 130. Wilder’s Volatility System alone cannot trigger any trade signals, which means it must be used in conjunction with other indicator systems. Welles Wilder Jr. EMA method a = 2 / ( n + 1 ) If you quickly calculate a for both methods with n = 5, you will find that Wilder's a = 20% and EMA a = 33. Your stop loss is 142 pips from your entry. I fixed a little detail in the "Display type" options box, 3. This indicator was inspired by John Welles Wilder's average true range (ATR) , but with some extra information. SuperTrend: A Versatile Stop Loss. Trailling Stop EA. 5 and 3. Hi I'm new to MQL5 and I wanted to add a trailing stop loss to my expert advisor but some reason it does not add. 🔝 Free Average True Range (ATR) Indicator in Top MT4 Indicators {mq4 & ex4} with Download ⤵️ for MetaTrader 4️⃣ & 5️⃣ - The Biggest Collection of Best Indicators & Systems on Best-MetaTrader-Indicators. The ATR Trailing Stop study plots the trailing stop value, the calculation of which depends on the specified trail type. 7. In a prior article, I mentioned how, as a largely fundamental and price action trader, I rely on only a handful of traditional technical indicators as part of my everyday trading. How easy would it be to adapt or. Welles Wilder pada tahun 1978. Find locational ATR at the breakout level. How to Trade with ATR Trailing Stop MT4 Indicator Bumili ng Entry. Indicator signals are recorded in a statistical module, which allows you to select the most suitable tools, showing the effectiveness of the signal history. The average true range (ATR) is one of Wilder’s famous creations and is probably the most popular volatility measure among retail traders. This ATR trailing stop indicator used with MT4 is a must-have tool for all types of traders in the Forex market. It is based on volatility, thus uses the average true range. Trend Side - a technical indicator for determining the trend. MQL4 for Metatrader4 we code an Expert Advisor that is able to move a sell trailing stop for the Average True Range Oscillator. วิธีการนำไปใช้งาน ใน MetaTrader MT4. Can filter trades by magic number. Best Non-Repainting Systems for MT4 & MT5; MA Squize Flet Color MOD NMC 1. Less volatile a pair, the lower the average true range. mq4" indicator. The computed SL is always greater or equal than the order price. 1724. in 1978. Welles Wilder, that measures Market Volatility for a given number of candles back. The ATR was intended to provide a qualitative approach that would assign a numerical figure to the. It provides trend change confirmation when the price Close above or below the current trailing line. Average true range. FREE. It is traded using an indicator that is based on the ATR trailing stop. The Trail Stop Loss indicator sets the trail stop to a multiple of an AT R value. Join Date: Apr 2010. From the ATR calculation, a trader can tell whether an asset is experiencing greater or lower volatility in a particular trading session. Welles Wilder, Jr. loss = Coeff*WMA (Diff, Period), WMA - Wilder Exponential Moving Average, Diff [i] = Max (HiLo, Href, Lref), HiLo [i] = Min (High [i] - Low [i. A trailing stop is a stop-loss order that adjusts dynamically as the price of an asset moves in the trader’s favor. C. rar. Hello, You would not be able to make this type of dynamic stop loss using the Strategy Wizard. The average true range (ATR) was introduced by Welles Wilder in his book, “New Concepts in Technical Trading Systems. Wilder originally suggested using 7 days, short-term traders use 5, and longer term traders 21 days. Human Rights TribunalFind Wilder Restoration in Victoria, with phone, website, address, opening hours and contact info. Wilders DMI Oscillator is an ideal indicator for determining trend direction. Indicator is useful for manual trading only. 5. Build your own custom trading system here: Simple Forex Trading Strategies The expert advisor opens trades when the SMAs cross and when the WPR has left overbought/oversold areas. Updated: 15 August 2022. Average True Range Trailing Stops are similar to the above, but include a ratchet. Best Non-Repainting Systems for MT4 & MT5; Atr Filter Indicator. The system uses a stop-and-reverse mechanism similar to Welles Wilder's Parabolic SAR or Average True Range Trailing Stops. MT5 Stop Indicators on Top-Trading-Indicators. Vote Up +15 Vote Down -0 You already voted! MT5 Indicator. The indicator is designed to keep traders in a trend and prevent an early exit as long as the trend extends. By dynamically adjusting stop loss levels based on market volatility, traders can optimize their profits while safeguarding their investments. If. Developed by J. The ATR Trailing Stop is plotted above (or below) the price when the stock is in a downtrend (or uptrend). The channel can prove to be a good indicator of a trend direction and also a guide for trailing of stop loss. Select your desired amount of trailing stop points from the preset menu, or select “Custom” to enter a. Suitable for any type of symbols, never redraws its signals and. and introduced in his book “New Concepts in Technical Trading Systems,” the ATR measures price volatility by breaking down the total range/volatility of price movements for a given number of periods. Pubblicato: 29 ottobre 2020 Versione attuale: 1. 30, locking in at least a 30-cent profit on the trade. It was introduced by Welles Wilder in his book "New concepts in technical trading systems". The upper and lower bands will be two times the ATR above and below the moving average, respectively. It sends an order, closes or moves the Trailing Stop loss position as the indicator works. The ATR Trailing Stop can also be plotted in stop and reverse (SAR) format like the Parabolic SAR. Source: Admirals MetaTrader 4 - Selecting the ATR period. J. ATR Indicator หรือ Average True Range มีวิธีการอ่านค่า คือ เราต้องอ่านค่าของมันเป็น Pip เพราะมันคือ Indicator ที่ใช้บอกว่า ช่วงไหนตลาดเคลื่อนไหวขนาด. Must be greater than 1. it will pops up a message to open MT4. Simply change the default “14” value to your preferred setting. Select the chart where you want to add the ATR indicator. In this way, in moments or instruments of greater volatility, the trailing stop would move away. Stop Loss = Locational ATR * Multiple Factor. RK_trader, This indicator would help you to "let your profit run" if your trade is correct you can place your stop order in the ATR Trailing value, it use the(ATR) indicator based in the Wilder's volatility. The Welles Wilder Volatility Stop calculates the long stop by subtracting a ATR multiple from the “significant close” in the lookback period. The ATR Trailing Stop Metatrader 4 forex indicator is a stop and reverse trend following indicator based on Average True Range. 31. 00. The indicator consists of a Bollinger Bands (BB) oscillator and a. The Average True Range – an indicator of price volatility – is used for entry or stop prompts. com # Uses the original ATRTrailingStop code provided by ThinkorSwim input aggregationPeriod = AggregationPeriod. the download begins on the "Market" tab page of the MT4. This allows traders to stay in a trade, while protecting their profits, as the market moves in their favor. and introduced in his book “New Concepts in Technical Trading Systems,” the ATR measures price volatility by breaking down the total range/volatility of price movements for a given number of periods. 27:6 (34-40)). Mladen's Ema trailing stop EA It can monitor all the symbols or just the symbol it is attached to. The ATR (Average True Range) Trailing Stop indicator gives a suggested trailing stop level for exiting trades. Select the downloaded file from your desktop. Allows you to take the maximum from the profit. Instead of a fixed number of pips, ATR stop loss is calculated based on current volatility. Now paste the Trailing stop loss level. Typically, the Chandelier Exit will be above prices during a downtrend and below. See Indicator Panel for directions on how to set up an indicator — and Edit Indicator Settings to change the settings. [Discuss] 💬. log in to the Mt4. The ATR Trailing Stop Indicator, or Average True Range Trailing Stop, used primarily in trading to set dynamic and adaptive stop-loss levels for managing risk and maximizing profits. In the window that pops up, choose “First Indicator’s Data” from the “Apply to” dropdown menu of the “Parameters” tab. Part four in an introduction to writing expert advisors for MT4 and MT5. Version: 1. Wilders Trailing Stop indicator. This means that the average range of price movement up/down, is $8. ex4 and Trailing stop loss level. El resultado se multiplica por el múltiplo elegido, 3XATR, en este ejemplo. It is an ATR-based trend detector that can also be used as a stop. The Average True Range is a popular indicator in the trading environment, ideally used to measure the. The SuperTrend U11 indicator is therefore more versatile and capable of recreating a number of other trailing stop loss indicators, such as the Gann HiLo Activator or the ATR Trailing Stop. 3 times. Trade with our Sponsor Broker: Trade Nation Join Mark's TradersMastermind: ATR Stop Loss Finder uses Average True Range to determine a safe place to put stop losses to avoid being stop hunted or stopped out of a trade due to a tight stop loss. The ATR indicator meaning tells us how much the price has changed in a current period compared with previous periods. During backtests, we used MT4 with Alpari data. The Average True Range (ATR) can be used to determine the volatility of trailing stops based on the price of a particular asset, such as the S & P 500 or Dow Jones Industrial Average. The ATR Trailing Stops indicator sets trailing stops to close positions based on the average true range. The ATR is commonly used to assist day traders to identify signals, prior to entering a trade. Here is what I got. I do the following steps to let it work. 5 and 3. This is a trend indicator without redrawing Developed instead of the binary options strategy (by the color of the Martingale candlestick) Also works well in forex trading When to open trades (binary options) A signal will appear in the place with a candle signaling the current candle It is recommended to open a deal for one candle of the current timeframe M1 and M5 When a blue dot appears. A volatility stop takes a multiple of. The indicator is an incredible system suited for managing an open position; it. 50). Reliability and usability. , 2 or 3) and subtract it from the entry price for a long position, or add it to the entry price for a short. Typical ATR time periods used vary between 5 and 21 days. Traders often use the ATR indicator to set their stop loss levels. Popular MetaTrader Indicators for MT4. An ATR trailing stop indicator is used to help traders identify potential buy or sell opportunities. It is constructed with two parameters, namely period. During backtests, we used MT4 with Alpari data. 100-2*3. Levels are shown separately for Long and Short positions. What is ATR Trailing Stop MT4/MT5 EA? ATR Trailing Stop MT4/MT5 EA is an expert advisor that can manage your stop-loss orders. Wilder originally suggested using 7 days, short-term traders use 5, and longer term traders 21 days. As the name suggests, the ATR Trailing Stop Loss Alerts indicator for MT4 provides traders with easy to read and accurate trailing stop loss signals. Average true range is a popular indicator among all financial traders. i. This indicator works by measuring the Average True Range (ATR) of the market, and then setting a trailing stop that is a certain percentage of the ATR. Indicator for MT4. It’s like flushing money down the toilet bowl. Using a multiple of the ATR indicator is simple: 1X = 8. What’s incredible is that. The chandelier exit places a trailing stop under the highest high the stock reached since you entered the trade. Determine your exit point when the RSI crosses the “70” upper limit line and is accompanied by a declining ATR value from a previous peak. Install a 3rd Party Indicator or App. ATR Trailing Stop Loss Indicator. Now paste the Atr trailing stop. The ATR trailing stop indicator for MT4 is a must-have tool for all types of forex traders. com. Re: News. 77. (atr[1] * 3) + close[1]; Trail. The following test:Find locational ATR at the breakout level. 90 – meaning that it wasn’t experiencing high levels of volatility. Also, you may adjust the ATR multiplier to your risk preference. Commodities are frequently more volatile than stocks. A popular use is, for example, the Volatility Breakout System. sal, Sat Nov 18, 2023 11:15 am. . . 80 (2 * 10 cents below $10). Gold was not too volatile in the first trading session week At the start of the new week, gold continued to trade steadily around $1,981 with little change compared to the. 0 lot long CADJPY fell back to your parabolic trailing stop at 80. For instance, if you sell 20,000 EURUSD at 1. 5X” the ATR value shown) below your entry point. 0. H1 charts both indicators show the same results which is to be expected as the MTF function has not been engaged at this point. This line shows the price levels of the break-even area where stop loss can be set to maximize the profit from your trading activity. You can set your stop loss 1 ATR away from Support & Resistance so you don’t get stopped out prematurely. . ATR Trailing Stops Setup. MT4indicatorsATR Trailing Stop GG MT4. Click; “Insert” >> “Indicators” >> “Average True Range”. However, the problem with this one is once a candle first breaks the trailing stop line, the new line on the opposite side of price does not appear until 1 candle later. When a trade triggers a minimum profit value based on a percentage of my balance the EA compute the new stop loss based on the ATR indicator and if the new SL > current SL then the new SL is applied. The indicator is designed to keep traders in a trend and prevent an early exit as long as the trend extends. - MetaTrader 4 Help. The ATR Trailing Stop indicator generates a trailing stop line that follows the price action based on the Average True Range (ATR). Wilder designed his Average True Range Indicator so that high values advised of potential market tops and bottoms whilst low values were indicative of conditions most suitable for range trading. The indicator draws Average True Range (ATR) based colored dots above and below the actual price. Since ATR is a volatility indicator. A 14-period rolling average is then applied to the true range to produce the ATR. EMA method a = 2 / ( n + 1 ) If you quickly calculate a for both methods with n = 5, you will find that Wilder's a = 20% and EMA a = 33. ATR + Momentum Shifts w/Take Profit. Above, the modification I made to ATR according to the website. mq4 files into indicators folder and restart the MetaTrader 4. It was built for the Metatrader (MT4) platform, which uses the Average True Range (ATR) and a trend-following tool to trail behind the price. It combines the principles of the Average True Range (ATR) indicator with trailing stops to create a stop-loss mechanism that adjusts with changing market. 5 x ATR are normally applied for trailing stops, with lower multiples more prone to whipsaws. Typical ATR time periods used vary between 5 and 21 days. Indikator Average True Range adalah salah satu indikator dasar di MetaTrader 4 dan MetaTrader 5. Wider stops indicate more volatility, while narrower stops indicate less volatility. this is my full EA (based on CCI for H4 and Daily TF, preferably GBPJPY) , MT4 : I know, this is the old code from 2009, I've learn this code, the fault is in Point on the init() function. Here there is a list of download Trailing Stop indicators for Metatrader 4 . It combines the Average True Range (ATR) indicator, momentum shifts, and customizable take profit levels to provide insights into potential market movements. Notice how it rises as volatility increases. From Mladen Rakic: Developed by Charles Le Beau and featured in Alexander Elder's books, the Chandelier Exit sets a trailing stop-loss based on the Average True Range (ATR). This thread will be used to post trailing stop es's. It is traded using an indicator that is based on the ATR trailing stop. The parabolic SAR indicator, developed by J. The parabolic SAR indicator, developed by J. ATR bands indicator. This distance is based on the Average True Range (ATR) indicator and a multiplier. I fixed a little detail in the "Display type" options box, 3. This is only the trailing stop and an attempt to show how well it works standalone as Wilder described. For example, if the average true range for the last 14 days is 98 pips, a trader can set an automatically calculated stop loss to be 98 pips. download this indicator by clicking the "Download" of this web page. He draws points to the chart, which show the support and resistance price levels. This is a trend indicator without redrawing Developed instead of the binary options strategy (by the color of the Martingale candlestick) Also works well in forex trading When to open trades (binary options) A signal will appear in the place with a candle signaling the current candle It is recommended to open a deal for one candle of the current timeframe M1 and M5 When a blue dot appears. Configuration Options. The SuperTrend indicator is an enhancement of the Maximum Adverse Excursion (MAE) concept, as introduced by John Sweeney in the mid-nineties. It is used in trend strategies to assess a trend reversal probability and determine the moment when the market starts a new trend. Defines whether to initialize ATR calculation at a short or a long position. If the position becomes profitable, Stop Loss can be manually shifted to a break-even level. video 2 in a comprehensive series of videos on a high probability trade entry set up using the atr trailing stop for trade entry! NRTR ATR Stop Indicator (MQ5) Download ⏬ - Best MT5 Indicators [MQ5 & EX5] with Open Source Code for MetaTrader 4 or 5. User support. #4. 16. An advanced indicator algorithm filters market noise, determines the trend, entry points, as well as possible exit levels. It's based on the Average True Range (ATR) of a stock, which is a. Average true range is a popular indicator among all financial traders. Következtetés. in his book New Concepts in Technical Trading Systems, that measures market volatility by decomposing. Also check out some books on how to trade channel and ATR:. hello experts any one has zigzag cg line cross ray. We’ve set the default value to 3. ATR Multiplier: 3. Welles Wilder Jr. The blue line or plus directional indicator (+DI) shows. The ATR Trailing Stop Metatrader 4 forex indicator is a stop and reverse trend following indicator based on Average True Range. There are plenty of ways to use the ATR indicator on the MT4 trading platform. Some traders sometimes use technical indicators to set the trailing stop loss. @TOS007 Here is the MTF version of the ATR Trailing Stop indicator. The complete strategy described above can be downloaded in the Free Strategies section. Simply put, a currency experiencing high Volatility has a higher ATR value, and a currency experiencing low volatility has lower ATR value. One way to use the ATR is to identify your stop-loss level, and a common strategy is to set your stop-loss one ATR from your entry position. Trade logic of the this. Moreover, traders need to set stop-loss and take-profit orders based on their calculation of entry position taking. Remember you need to manually place your trades and the EA should do the rest according to the EA settings. A low ATR value of the MT5 indicator suggests a series of sideways movements. This allows traders to stay in a trade, while protecting their profits, as the market moves in their favor. Si hay una tendencia alcista, el resultado del paso 2 se resta del Precio de Cierre. Formula StopLoss = Low [0] - 2 * ATR (5, Close [1]-2*ATR (5), and High [0] - 3*ATR (5) Trading use The ATR Trailing Stop indicator for Metatrader contains one line displayed at the price chart. ATR is a popular way to use the indicator's value to trail trades. Here is a brief outline: Average True Range is calculated in accordance with J. ” This indicator applies the ATR as a trailing stop and includes a modified version suggested by Sylvain Vervoort in his article “Average True Range Trailing Stops” (Stocks & Commodities V. 0. That's an indicator Buy: buffer[i] - Low[i] - 2 *ATR(20, i) if you're coding an EA you don't need the indicator just do the calculation. So, the indicator uses the ATR calculations to find the average. The ATR Trailing Stop MT4 Indicator is a valuable tool that empowers forex traders to navigate the markets with enhanced precision and risk management. All Indicators on Forex Strategies Resources are free. rar. The price rises to $10. The indicator consists of two lines, a light blue line and an orange line, and bar graphs in a window below the price pattern. The new settings of the MT4 ATR indicator will be applied automatically. For buy trades, trail your stop loss up 1-3 pips below the blue dots until you get stopped out of. If set to close, the script will ignore swing lows and highs and give you the distance of the ATR from the current candle close instead. Wilder originally suggested using 7 days, short-term traders use 5, and. ATR Trailing Stop. Welles Wilder himself used ATR as the basis for his volatility system. For example, if you have a trade in EURUSD, then you need to upload it into the EURUSD chart and activate it there. This is a new version of the classic Volatility Stop originally published in 2014 by admin and written in Pine v1. Conclusion. The ATR Levels Indicator is an MT4 indicator that plots support and resistance levels to tell the direction of the trend. Download ATR Indicator for MT5. com. Trend Analysis Moving Averages TSL stoploss trailingstop trailing trailingtakeprofit trailing_stop stop alerts alert. 1 − L where: TR = the true range H = today’s high L = today’s low C. If. When the indicator is removed from chart, it sets the default chart colors, Attached File (s)Join Date: Apr 2010. For the HighLow option, the multiple of ATR is added to the daily Low, and subtracted from the daily High. for commodities. #atr #stoploss #tradingjournalHow to read Japanese candles. SET UP 1. 31228. Attached you will also find the BAT arrow. Also, it helps a trader to move towards the exit point if the price movement is in the right direction. Next, you need to select Trailing Stop level from the proposed values in. com. you can change, the parameters - ATR period (Default = 14) and Times to multiply the ATR (Wilders's)(Default = 3 Times),Alternatively, you can add momentum indicators like the CCI and QQE to enter the market on pullbacks. It is applied in position sizing for strategies that do not set stop-loss order. ATR Trailing Stop MT4/MT5 EA is an expert advisor that can manage your stop-loss orders. Average True Range indicator pertama kali diperkenalkan oleh J. The forex indicator draws buy and sell signal lines below and above the currency. The ATR indicator works by first determining the True Range (TR) for the current bar and several previous ones (usually 13) and then averaging the data to indicate how much on average a particular instrument will move. 5 to accommodate for more volatile instruments. The value of this trailing stop is that it rapidly moves upward in. Atr Candle Length Indicator. One of the most used in this case is the Average True Range (ATR), an indicator that reflects the volatility of an asset. For this particular asset, the ATR remained below 1, and it moved within a narrow band of between 0. I have coded an EA for automatic trailing stop loss. The ATR Trailing Stop takes the ATR particular and multiplies it by a specific factor to determine the distance of the stop-loss order from the current price. ATR Trailing Stop Signals. Activations: 5. The ATR (Average True Range) indicator is a useful tool that measures volatility levels. It is traded using an indicator that is based on the ATR trailing stop. The EA is junk. The indicator known as average true range (ATR) can be used to develop a complete trading system or be used for entry or exit signals as part of a strategy. , to find potential reversals in the market direction. Attached Image (click to enlarge) M30 charts show that your indicator shifts the values the MTF indicator retains the H1 values. When considering a buying opportunity, look for the price to move above the trailing stop line created by the indicator. Atr. READ Pin bar indicator for Metatrader 4 (MT4) - download. It analyses a range of asset prices within a given timeframe, taking into account any gaps in price. It belongs to the same family of indicators as: • Charles Le Beau's Chandelier Exit, • Olivier Seban's Super Trend,. 8-3. If You need an Indicator or Signal developed, submit your request here If you appreciate our work, support usATR = Average True Range. The. ATR can also be used as a potential stop-loss in trading systems. 🔝 Free ATR Trailing Stop Loss Indicator in Top MT4 Indicators {mq4 & ex4} with Download ⤵️ for MetaTrader 4️⃣ & 5️⃣ - The Biggest Collection of Best Indicators & Systems on. All this means is that from a point you decide, you would add or subtract any of those amounts from the price for your stop loss level. Based on average true ranges over the last few bars, plus current price action, the. Activations: 5. I share this TSL indicator with alert (I use it only for Stocks), the configuration is very simple, you must select if it is a Short or Long operation, time at which the operation was opened. The indicator is designed to keep traders in a trend and prevent an early exit as long as the trend extends. Forex traders can use the ATR Trailing Stop Indicator for MT4 to understand the trend, volatility and to identify entry and exit. October 19, 2023 Indicators. Trailing stops are normally calculated relative to closing price: Calculate Average True Range ("ATR") Multiply ATR by your selected multiple — in our case 3 x ATR. How to set stop loss using volatility stop: You need to identify the current ATR value and multiply it by a factor of your choice. ex4 and Atr trailing stop. Using the default settings as an example: Highest High in last 22 days - 3 * ATR for. = 43. 20, and the remainder (0. ATR trailing stop loss . Defines whether to initialize ATR calculation at a short or a long position. atr factor. Our ATR trailing stop indicator has the option to activate the modified ATR calculation. One of them is the average true range, which is commonly represented by the initials ATR. What is the Average True Range (ATR) Indicator? Developed by J. The number of bars used to calculate the Average True Range. It has only 2 variables. It creates an upper and lower band on the chart. The Average True Range (ATR) is a common technical analysis indicator designed to measure volatility. The best trailing stop by return-to-risk was the 20% trailing stop with a score of 0. Multiplier: Multiples vary between 2. ATR Trailer expert advisor is based on ATR as its trailing stop-loss. This is where the ATR Trailing Stop MT4 Indicator comes into play. 5 x ATR are normally applied for trailing stops, with lower multiples more prone to whipsaws. You can define the time period of each day of the week the EA should not trade (the bad time to trade). ATR based indicators for MT4Chandelier Exit MT5. 0028, which is equal to 28 pips. It plots the candle bodies in auto-width mode, so no need to input anything, 2. Use trailing stop point with MT4. Description quality and completeness. In the window that pops up, choose “First Indicator’s Data” from the “Apply to” dropdown menu of the “Parameters” tab. Extract from the file rar or zip. Forex Indicator "ATR Trailing Stop" for MT4. 0 I want the one with the ATR Period 15 to trail longer even after the second one got stopped out which would trail closer and would get stopped out much sooner. Come. This is a trend indicator without redrawing Developed instead of the binary options strategy (by the color of the Martingale candlestick) Also works well in forex trading When to open trades (binary options) A signal will appear in the place with a candle signaling the current candle It is recommended to open a deal for one candle of the current timeframe M1 and M5 When a blue dot appears. 5. This indicator works by measuring the Average True Range (ATR) of the market, and then setting a trailing stop that is a certain percentage of the ATR. I think this particular indicator was intended for a stop and reverse type strategy. MQLTA Supertrend Trailing Stop:. Indicator for MT4. 2X = 8. in his book New Concepts in Technical Trading Systems, that measures market volatility by decomposing. William Roeder 2011. SuperTrend is one of the most common ATR based trailing stop indicators. The average true range (ATR) is a market volatility indicator typically derived from the 14-day simple moving average of a series of true range indicators. The indicator calculates Take Profit and Stop Loss marks. If the trail type is "unmodified", this value is calculated as the Average True Range (ATR) on the defined period multiplied by the specified factor. Multiples between 2. Here is an example of setting Trailing Stop Loss in MT4. 72. Forex Indicator "ATR Trailing Stop" for MT4. The default is set as 3 x 21-Day ATR.