Volatility_Stop - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
The Volatility Stop Loss indicator is a stop loss level for volatility based on the article "10 Sales Tips" by Thomas Burkoski .
It has two configurable parameters:
VS = Multiplier * HiLoAvg / Close
Average high and low = MAH - MAL MAH - SMA (high, period) MAL - SMA (low, period)
It can be related to the swing stop oscillator indicator.
By default, the indicator line is displayed below the price (multiplier = 2):
To draw a line above the price, you should enter a negative coefficient value (multiplier = -2):
This indicator can also be used to create volatility channels by applying two indicators with different multiplier values to the chart.
For example, you could use 0.618 as the lower line and -0.618 - as the upper line and trade when the obtained channel line is broken.
Attachment download
📎 volatility_stop.mq5 (8.05 KB)
Source: MQL5 #22366
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