Hi friends
I have seen sylvain vervoorts trailing support resistance which is available on most other platforms but not on metatrader.
Anyone interested can look it up in mql programming area.
However I found the trends indicator line almost same as ATR STOPS V1.1 mq4 indicator.
Only thing -you need to set indicator settings as 2,10 periods.
A chart is not posted here. some difficulty. will try later again
Take a look
observe comment
I am adding 2 more charts.
While a 2 ATR stop is common, here we add a 4ATR stoploss and show that in a real power trend the good entry has some factor where both stoploss lines go into a synch.
This is a hint.
Point
How far does a price go in extreme condition?
It goes as far as 4 atr.
check it out.
Hint no2
What does price do often?
it goes down takes previous low kicks out all stops in that region.
it goes up and takes out previous highs and kicks out all stops in that neighbourhood.
When you use recent previous highs or lows, get ready to be kicked out.
howdo you avoid these hits?
dont use a 2 atr based dynamic stop.
instead use a 4 atr stop or a synch between 2 atr and 4 atr stoplines.
you never keep a 2 atr based stop in terminal or trading platform.
NOTE
If you dont have a stoploss formula,no worry. use the attached atr v1.1 stops formula and set the parametrs to 10,10,2.0
This is very important.
Happy trading!
I have seen sylvain vervoorts trailing support resistance which is available on most other platforms but not on metatrader.
Anyone interested can look it up in mql programming area.
However I found the trends indicator line almost same as ATR STOPS V1.1 mq4 indicator.
Only thing -you need to set indicator settings as 2,10 periods.
A chart is not posted here. some difficulty. will try later again
Take a look
observe comment
I am adding 2 more charts.
While a 2 ATR stop is common, here we add a 4ATR stoploss and show that in a real power trend the good entry has some factor where both stoploss lines go into a synch.
This is a hint.
Point
How far does a price go in extreme condition?
It goes as far as 4 atr.
check it out.
Hint no2
What does price do often?
it goes down takes previous low kicks out all stops in that region.
it goes up and takes out previous highs and kicks out all stops in that neighbourhood.
When you use recent previous highs or lows, get ready to be kicked out.
howdo you avoid these hits?
dont use a 2 atr based dynamic stop.
instead use a 4 atr stop or a synch between 2 atr and 4 atr stoplines.
you never keep a 2 atr based stop in terminal or trading platform.
NOTE
If you dont have a stoploss formula,no worry. use the attached atr v1.1 stops formula and set the parametrs to 10,10,2.0
This is very important.
Happy trading!