Chande Kroll Stop Loss - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources

The Chande Kroll Stop Loss Indicator is an indicator used to determine the level of stop loss setting. It represents two lines on the price chart. The red line represents the stop-loss level for short positions, while the green line represents the stop-loss level for long positions.

Chandler Kroll Station is calculated based on the true range and is therefore positioned as an indicator independent of the instrument's volatility.

This indicator was first discussed and implemented in The New Tech Trader by Tushar Chande and Stanely Kroll.
Chande Kroll Stop is designed as a trend following indicator that indicates stop loss levels for traders by calculating the average true range of the market trend while taking into account any market fluctuations.

The indicator is calculated based on the highest and lowest price values ​​over a certain period and the standard deviation (ATR). This data allows the indicator to "feel" the market and adjust its value based on current market conditions.

Market volatility plays a key role in the calculation of this indicator. In times of high volatility, the Chande Kroll stop will move further away from the current price, giving investors more room for market movement. Conversely, at low volatility, the lines will be closer to the price, allowing for faster reaction to any changes.

Attachment download

📎 chandekrollstop.mq5 (11.58 KB)

Source: MQL5 #49175