ATR Stop Loss Band - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
This indicator is used for stop loss positions with ATR as reference and has two lines equidistant from the moving average.
This indicator can also be used as a safe measure for trade entries by using it as a price breakout filter, meaning that if the price deviates too far from your baseline, the price will move too directly for safe trading.
The input setting is
Attachment download
📎 stoploss_factor.mq5 (4.39 KB)
Source: MQL5 #41310
ATR Stop Loss Band - MetaTrader 5 Script | Foreign Exchange Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
ATR Stop Loss Band - MetaTrader 5 Script | Foreign Exchange Indicator Download - MT4/MT5 resources are foreign exchange indicator related resources. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based only on titles or short-term profit descriptions.
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