BB Stop JMA - Multiple Stops - MetaTrader 5 Script | Trading Script Download - MT4/MT5 Resources

BB stop loss uses Bollinger Bands to determine whether the trend is changing and also determines the direction of the trend. The usual way to find the stop line is by calculating the risk-based deviation. However, in many cases a single proposed stop line is not adequate.

It instantly calculates 3 stop lines and recommends the highest risk one as the "final" stop loss line. The two additional stop lines can be used as lower risk stops or as early warnings of changes in the market. Additionally, instead of using some standard average, it uses JMA (Jurik Moving Average) as the averaging method, and instead of using standard deviation for trend and risk calculations, it uses fast EMA deviation - all of which allow it to react to market changes faster and produce smoother results.

You can use the color change as an indicator direction of the current trend and you can use any stop loss line as your stop loss order.

It is highly recommended to do some experimentation with the parameters before using them in actual trading decisions.

Attachment download

📎bb_stops_2 _-_jma.mq5 (29.47 KB)

Source: MQL5 #22636