Free download of Market Structure Trailing Stop Indicator in MetaTrader 5 | Forex Indicator Download - MT4/MT5 Resource

Among MetaTrader 5 indicators , the Trailing Stop indicator is a valuable tool for identifying and adjusting dynamic reversal levels under changing market conditions. By tracking price trends , it automatically adjusts support and resistance levels to help identify potential reversal points .

Using the Trailing Stop indicator , traders can pinpoint entry and exit points and better understand market changes .

Indicator Table

Indicator overview

The Trailing Stop indicator displays bearish trailing stops in red and bullish trailing stops in green, helping traders observe trend changes. The Change of Market Character (CHoCH) is also shown as a dotted line to indicate important price reversal points.

By combining these features with reversal pivots, traders can identify price reversal points and make better trading decisions.

Trailing Stops in an Uptrend Market Structure

In the EUR/AUD 1 hour chart during an uptrend , the trailing stop is marked in green and the Change in Market Characteristics (CHoCH) is represented by a dotted line.

These levels automatically adjust as price rises, allowing traders to promptly identify potential price reversal points or an uptrend slowing down .

Trailing Stops in Downtrend Market Structure

As shown in the GBP/SGD price chart on the 1 hour time frame, trailing stops in a downtrend are marked in red and automatically lower as prices drop.

Traders can place their stop-loss levels before these areas and enter sell trades.

Indicator Settings

• Chart_Theme: indicator background theme in light mode;
• Pivot lookback: average of 14 previous and next pivot candles;
• Increment factor: The display rate of 100% trailing stop loss relative to price growth;
• Reset step on changes in market characteristics;
• Show MS: Market structure level;
• BullishMS: Bullish trailing stop is green;
• BearishMS: Bearish trailing stop is red;
• Lookback: The indicator’s candle retracement level.

Conclusion

The " Trailing Stop" indicator , with its bullish and bearish trailing stops , clearly shows trending price changes and marks key price reversal points.

With customizable settings and trend following capabilities , this MetaTrader 5 trading aid allows traders to efficiently manage risk , as well as their entry and exit points .