Using ATR for SL,TP

[traderthomas]

How to use ATR for SL and TP?

[Vortrexcian]

@traderthomas

ATR Level x 1.5 or 2.0

EURUSD as an example:

Calculate the ATR-Based Stop-Loss Distance:

Start with the current ATR value, let's say 0.00147 for EURUSD.
Decide on an ATR multiplier. Let’s use 1.5x for this example.
Multiply the ATR by 1.5 to determine the stop-loss distance:

1.5×0.00147=0.002205
This means your stop-loss should be set 0.002205 away from your entry price.

Set the Stop-Loss Based on ATR:

If you’re entering a long (buy) position:
Place your stop-loss 0.002205 below your entry price.
If you’re entering a short (sell) position:
Place your stop-loss 0.002205 above your entry price.

Example in Action:
Suppose you enter a buy position on EURUSD at a price of 1.08335. Using an ATR of 0.00147 and a 1.5x multiplier, your stop-loss calculation would be:

1.08335−0.002205=1.081145
So, your stop-loss would be set at 1.08115 (rounded to 5 decimal places for precision).

This approach places your stop at a volatility-adjusted distance, reducing the likelihood of being stopped out by typical market fluctuations.

Hope this helps.

[traderthomas]

i am talking about in fx dreema with the block's bro

[jstap]

the option is in the buy/sell blocks, ATR used as an indicator as a price fraction

[Vortrexcian]

@traderthomas

Have a look at something like this, but get others opinion as well, such as
@jstap

https://fxdreema.com/shared/LAslnLNde

[jstap]

That is how I meant

[traderthomas]

@Vortrexcian ok