how to multiply ATR value and set as stop
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hey fxdreema,
sorry to bug you again (lol I bet I'm annoying
) but I was wondering how I could use the formula block to set up a stop-loss and take-profit.what I want is for "average true range" x "multiplier" to be set as a stop-loss or take profit and I've tried many times to do it in different ways it doesn't work.
edit:
once again bare in mind I'm just learning to use the software so please don't think I'm annoying you or anything
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It would be nice if other users of this lovely software and forum can help each other out too, it'll help reduce the creators workload.
heres my 2 cents
https://fxdreema.com/shared/snVVZ9INb
Take a nice look at the example.
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I have had a similar question a few weeks ago. Of course I can post my solution of an atr_stop_loss. Download EA and backtest it on mt4 then you can see how it is working. Maybe it can help you.
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__I have had a similar question a few weeks ago. Of course I can post my solution of an atr_stop_loss. Download EA and backtest it on mt4 then you can see how it is working. Maybe it can help you.
https://fxdreema.com/shared/53dmoBc7e[/quote:2i2klrgo]
Hi ramsay09,
I am trying to set a stop loss based on the ATR value and I have had a look at the work you did but cannot figure out where I am going wrong...all trades get stopped out at the price as the entry level. Is there any chance you could help me to sort it out please? https://fxdreema.com/shared/mcqgJw3cc
I think the problem is in the "ATR stop loss" area.... -
Note that the "Set..." block sets the timeframe, but only for it's own group of blocks.
I'm nost sure about these x> and x< that you are using... why crossovers. Better use < and >
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Hi teobusetti,
forget my old project you were looking at. The attempt to create my own atr stop loss was forced be an indicator that has a bug. I have attached the bug free indicator. You can use it as custom indicator with a condition block.
