Trailing stop by ATR

[capitalfreedom]

I am attempting a trailing stop based off of the ATR that moves SL 3 ATR when the trade achieves 2 ATR. Would this be correct?

[Youngtreptrader]

does atr plot on the main chart tho? how can a sl trail that type of indicator

[capitalfreedom]

hey, thanks for your response. I actually got it to work

[TipsyWisdom]

@youngtreptrader said in Trailing stop by ATR:

does atr plot on the main chart tho? how can a sl trail that type of indicator

by converting it to pips.

[TipsyWisdom]

@tipsywisdom said in Trailing stop by ATR:

@youngtreptrader said in Trailing stop by ATR:

does atr plot on the main chart tho? how can a sl trail that type of indicator

by converting it to pips.

formula block
LO = ATR
x
RO = value "ATRMultiplier" *create a constant with a default value 2, that constant goes here for the example its ATRMultiplier
adjust = "*decimaladjustment"
(10,000 for EURUSD) (1,000 for USDJPY) *you will need to adjust this per your broker and symbol decimal place, this is also a constant and you manually type the name of that here with the multiplication symbol, without the quotes

Now create a blue variable named ATRPips to complete the formula, and the output variable is a fairly universal ATRPips calc, but it has some limitations on its use. There are many other ways to achieve this

[gorilla-space]

@drewliedadeuce can you please share how you made it work? Thank you!