LeManStop - MetaTrader 5 Script - MQL5 #21163 - MT4/MT5 Resources

The trend following indicator LeManStop is a representative of the LeMan system and displays the stop loss levels of existing positions on the chart. It draws two stop loss lines for long and short positions, displayed in different colors.

It has six configurable parameters:

 LeMan Stop = PrevOpen - Coeff * SMA(HO, period)

If dMA < 0:

 LeMan Stop Loss = PrevOpen + Coeff * SMA(OL, period)

Where:

 HO = High - Open OL = Open - Low dMA = FastMA - SlowMA
FastMA - MA (Close Price, Fast MA Period, Fast MA Method)
SlowMA - MA (closing price, slow MA period, slow MA method)