ATR
trailing stop can replace the moving average due to its accuracy in
following the trend. The advantage lies in the use of ATR, so that
the trendline display is able to cover higher and lower price
movements based on trading style preferences. In other words, ATR
stops can be used by scalpers and swing traders. ATR Stop basically
combines the ATR information to follow the latest price movement
trends based on the average volatility of the target pair. The
information on average volatility is then modified by the ATR stop
coefficient as two lines that move above higher or lower prices such
as channels. In this way, ATR stops can also be used as dynamic
support and resistance limits. The blue line represents the upward
trend, while the red line represents the downward trend. If you
follow trends, pay attention when the line starts to change color
from red to blue or vice versa. Buy when the line turns blue or Sell
when red. Not only that, ATR Stop is more flexible than the moving
average because besides being a trend follower it can also be used as
a trend counter (inversion).
It
also adjusts the ATR value setting and the coefficient on the ATR
Stop indicator. If you are a scalper, use an ATR value less than 21
and a coefficient less than 5. Considering that if you are a swing
trader you can set an ATR value greater than 50 and a coefficient
greater than 5.
Download
here the ATR shutdown indicator file. Then, open the MetaTrader 4
application. Open the "File" menu, then click on "Open
data folder" Look for the folder where you saved the previously
downloaded indicator file. Afterwards, return to the MetaQuotes
terminal which opened for the first time when you opened the "Open
data folder" menu Open "MQL4", then select the
"Indicators" folder Copy and paste the NRTR_ATR_Stop.mq4
file in the Close MetaQuotes terminal folder and the MetaTrader 4
application Reopen MetaTrader 4 Please observe the "Navigator"
window located under "Market Watch". In the "Indicators"
section, there will be a new indicator, NRTR_ATR_Stop Drag and drop
the indicator on the chart.
In
the folder for download there are the following ATR Stop mql4
indicators:
ATR
Stops mq4 V.1.1
ATR
Trailing Stops mq4
ATR
Trailing Stop V.3
In
the pictures ATR Stop mq4 indicators
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