The ATR Stop Loss line Forex indicator for Metatrader 5 is a trading tool that provides suggested stop loss levels for both buy and sell trades.
The indicator draws a red and blue colored stop loss line on the chart based on Average True Range technical indicator.
How to use it?
- For buy trades, place your stop loss below the red colored ATR stop loss line.
- For sell trades, place your stop loss above the blue colored ATR stop loss line.
- Use it in conjunction with an existing Forex strategy or system.
Please make yourself familiar with this technical indicator and test it first on a demo account for an extended period.
The ATR Stop Loss line indicator works for all possible time frames and trading instruments supported by the MT5 trading platform.
Configurable parameters and input settings: ATR period, target.
Free Download
StopATR_auto.mq5 Indicator (MT5)
Chart Example
The following chart shows what the ATR Stop Loss line Forex indicator looks like when applied to the MT5 chart.
