How can I set a stop loss based on ATR%

[jzfusion]

I'm trying to set a stop loss based on a percentage of the ATR. I am able to select the ATR as an indicator for the stop loss but not sure what to do next.

[Voodoogodman]

@jzfusion quick and dirty is to use the "adjust" tab under the atr and enter *1.5 or whatever
*2
*1.5
*0.33
etc

(enter percent as a decimal) 100% == 1.00 52.8% == 0.528

[jzfusion]

@Voodoogodman
I don't think I understood what you meant. This is what I did:

And this is what I'm getting:

I'm missing something here!

[dweleszczuk]

hi did you fined answer for you problem because i have this same clue?
i need stop loss:
current price - 2*atr

[roar]

@jzfusion said in How can I set a stop loss based on ATR%:

@Voodoogodman
I don't think I understood what you meant. This is what I did:

And this is what I'm getting:

I'm missing something here!

Just change the mode. ATR is not a level, it's a price fraction

[brianharig]

Can someone post an example of this in real life? I have it set exactly as stated and it's not working. Thank you.

[trader.philipps]

@brianharig Check my recent post. There is a project and an mq4 file you might take a look at.
https://fxdreema.com/forum/topic/8618/tutorial-expert-advisor-with-some-recent-issues-solved/14

[brianharig]

Thanks for the help. I still have something wrong. It will set the initial stop loss at 2*ATR, but it will not trail. What am I missing? Thank you so much.

[roar]

@brianharig I think it is technically working, but the problem is the variable SL.

Trailing stop will never increase your SL. But the ATR increases when the price moves, and it increases even more because you multiply it. The trailing system can't update the SL, to protect your trade.

Try using candle ID 1 on the ATR, maybe it helps. Also, make sure the "trailing start" is set up as you want it.

[brianharig]

@roar Ah, I think I get it. If I used candle ID 1 it would reset it for each candle. I'll give it a try.

[trader.philipps]

@roar In my Tutorial EA I calculate the ATR value from the time the trade was opened (candle ID:1 at that time). Like this it is a constant for the trade.

vdATR is the price fraction and viATRPips calculate that price fraction in Pips as somehow that works more reliable with the trailing I observed.

[crazycnw]

thanks very much. Also will these boxes open when i press the code on the keyboard on the chart. If not how do i manually open boxes?

https://fxdreema.com/shared/P3hzzHWSc

[gordonhmilton]

@brianharig

You may want to create an ATR variable first. You may find this post helpful

https://fxdreema.com/forum/topic/12843/atr-to-pips-new-formula

All the best