Mod ATR Trailing Stop MT5 Indicator

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The indicator displays possible StopLoss levels on the price chart. Levels are shown separately for Long and Short positions.

It has two parameters:

  • Period – calculation period;
  • Coefficient – distance from the price.

Calculation:

  • If Close[i] < TS[i-1] and Close[i-1] < TS[i-1]
    TS[i] = Min(TS[i-1], Close[i] + loss)
  • Если Close[i] > TS[i-1]
    TS[i] = Close[i] – loss
  • If Close[i] < TS[i-1]
    TS[i] = Close[i] + loss

where

loss = Coeff*WMA(Diff, Period),
WMA - Wilder Exponential Moving Average,
Diff[i] = Max(HiLo, Href, Lref),
HiLo[i] = Min(High[i] - Low[i], MVA(High - Low, Period))
  • If Low[i]<=High[i-1]
    Href[i] = High[i] – Close[i-1]
  • If Low[i]>High[i-1]
    Href[i] = (High[i] + High[i-1] – Low[i] – Close[i-1])/2
  • If High[i]>=Low[i-1]
    Lref[i] = Close[i-1] – Low[i]
  • If High[i]<Low[i-1]
    Lref[i] = (Close[i-1] + High[i] – Low[i-1] – Low[i])/2

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Mod ATR Trailing Stop MT5 Indicator

 

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