See images below for more explanation. Why use a trailing stop-loss? A trailing stop-loss provides an exit when price moves against you but also enables you to move the exit point further into profit when price is moving in the desired direction of a trade. The ATR which is used candlestick timer mt4 download to measure volatility, is very effective at functioning as a trailing stop loss. Indicator Explanation Initially when this indicator is added to the chart, you will be prompted to select where to begin the ATR Trailing Stop-loss. For a long stop-loss, select below price.

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The settings for the ATR calculation can be modified within the settings. An optional fixed profit target can be added within the settings. This profit target will only actively be plotted when the ATR Trailing Stop-loss has not be hit hit yet or until rhinophobia the profit target has been hit. Here shows that the profit target was hit, then later on the ATR Trailing Stop-loss was hit. Note, trailing stop-loss will continue to be plotted until it has been hit regardless of the profit target being hit or not.

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For a short stop-loss, select above price. After this indicator is placed, it can be modified via dragging or from within the settings by modifying the time and the price input. Or simply forex broker rating re-add the indicator to the chart. The ATR Stop Loss plotted. Note that the trailing value that is considered as the stop loss value is the value of the ATR from the prior candle.

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‘Check’ alerts to use within indicator settings (trailing stop hit and/or profit target hit). Select ‘Create Alert’ 3. Set the condition to ‘Interactive ATR” 4.

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