ATR Stop Levels

Sizing a stop by "a round number of pips" ignores how much the market is actually moving; sizing it by an ATR multiple adapts automatically to current volatility, tighter in a quiet market and wider in an active one. This indicator plots that ATR-based distance directly on the chart as two dotted lines - close minus the distance for a long stop, close plus it for a short stop - recalculated fresh on every bar rather than trailed forward from a previous value. That distinction matters: this is a reference plotter, not a trailing stop. Each bar shows what a sensible stop distance would be if a trade were opened right there, which is exactly the information needed when placing a new order, but it will not track and ratchet a stop for a position already open - that trailing behaviour belongs to ChandelierExitLevels elsewhere in this collection, which anchors to the highest high since entry instead of re-centring every bar. The corner label also compares the computed distance in pips against the broker's own MODE_STOPLEVEL minimum, flagging when the suggested distance would actually be rejected as too tight to place. Notes and limitations - Re-centres on every bar's own close rather than trailing forward, so it is a "what distance makes sense right now" reference, not a trailing stop for an open position. - The broker minimum-distance check compares against MODE_STOPLEVEL only; it does not check MODE_FREEZELEVEL and does not place or modify any order itself - it is informational only. - Like any ATR-based measure, it reacts to volatility that has already happened; a sudden regime change will not be reflected in the plotted distance until enough new bars have passed to move the average.

Indicator · MT4 · v1.0 · Free

Tags: ATR · MT4 Indicator · MQL4 Source Code

MetaTrader 4 & 5 indicators · PolyMaria