Chande Kroll Stop
Chande Kroll Stop is often confused with a plain ATR channel, but the method has a second step most simplified copies skip: after widening the period's highest high and lowest low by a multiple of ATR, that widened series is itself smoothed with a second highest/lowest pass over a shorter period. The first pass reacts to volatility; the second pass removes the single-bar spikes the first pass would otherwise still carry into the stop line. This implementation runs both passes explicitly rather than approximating the result with a single wider ATR band, so the long stop only ratchets down to a new floor when the smoothed series actually supports it, not on every fresh single-bar extreme. Notes and limitations - Both lines are plotted for every bar with enough history; this indicator does not decide which side is "active" for the current trend - that is a design choice left to whoever attaches trading logic on top. - Like any ATR-based stop, it widens on volatility spikes and can sit further from price than a trader expects right after a large range bar. - This is a reference level, not an order - it does not place, modify or trail an actual stop-loss.
Indicator · MT4 · v1.0 · Free
About Chande Kroll Stop
Chande Kroll Stop is an indicator for MetaTrader 4 based on ATR. It has 3 settings, such as Atr period, Atr multiple and Stop period. MQL source code included.
Files in the download: ChandeKrollStop.ex4, ChandeKrollStop.mq4, ChandeKrollStop.txt.
Settings
| Setting | Default | What it does |
|---|---|---|
| Atr period | 10 | Period for the first-pass highest/lowest and ATR |
| Atr multiple | 1.0 | ATR multiple added/subtracted in the first pass |
| Stop period | 9 | Period for the second-pass highest/lowest over the first-pass series |
How to install
- Download the ZIP from your PolyMaria library and unzip it.
- In MetaTrader 4 open File → Open Data Folder, then go to MQL4 → Indicators.
- Copy the .mq4 file(s) there. Put any .mqh files in MQL4 → Include.
- Open the .mq4 file in MetaEditor and press Compile (F7) if MetaTrader does not show it.
- Drag the indicator from the Navigator onto a chart and adjust the settings.
Tags: ATR · Channels & Envelopes · MT4 Indicator · MQL4 Source Code