how do i set my stop loss to be at lower few pips from lowest candle based on ATR value + spread?

[jidee1705]

Hi,

Would like to request help from any of guys which can help me to solve my issue here as below.

For sell trade:

1. Wanted my stoploss to be few pips range based on the value of ATR and spread.
2. the stoploss would be above candle high of candle ID 1 or 2.
3. Example, ATR value for m5 is 34 points + spread size of 14 points which adds up to be 48 points.
4. So this if the candle high price value is 0.1054, thus the SL will be set to 0.1102.

For buy trade:
Viceversa.

i attached the link here.
https://fxdreema.com/shared/DflNJ0Xqb

[l'andorrà]

@jidee1705 I'm not sure I get it. Can you please upload an image to make it clear? What's the point of combining ATR and a candle's low?

[jidee1705]

This is the visualition.

i wanted to create the SL value below thew lowest candlle 1 to 3 plus ATR value + that current spread size.

[l'andorrà]

@jidee1705 But what if no previous candle is beyond that distance? No SL level is supposed to be used then?