Share: ATR based Trailing Stop Script ! (Also request help)

[Diesel 10]

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