Diesel 10 Posted November 7, 2011 Report Share Posted November 7, 2011 (edited) Hi, I'd like to share a very special script (& indicator) that when you're in a trade, apply to your chart and it will trail the trade automatically using average true range! I think this is superior to other trailing stops because it adjusts for the market's volatility. Being a script, once you exit the trade, the script disappears from your chart (it is for only one time use on that trade). Here is a screenshot of the ATR Stops (settings 2,4,2.2) indi at work.! I think you will find it quite amazing at keeping you in the trade. It may just become the most valuable trading tool in your arsenal ! http://screencast.com/t/OayOGQGdPxu Put this indicator in your experts/indicators file http://www.multiupload.com/CJZO30WN0Z and this script in your experts/scripts file: http://www.multiupload.com/CQ23KD9MT4 restart MT4 and you should be good to go. Then whenever you wish to use the script, just drag it onto your chart... I think you will find this to be a very good trailing stop. Current default settings are 1, 3, 1.5 (very tight!) but for a loser trailing stop you can change to 2,4,2.2 or even bigger. * I was able to get them working fine so no help needed. Diesel10 Edited November 14, 2011 by Diesel 10 Waldim, smurf43, alten91 and 2 others 5 Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.