ATR stop loss 1.5* ????
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I want to set my trailling stop to 1.5* the ATR and my trail profit 1* ATR
I think i need to create a constant or modify the variable not sure.
A member of this forum : trader.philipps posted this picture which is exactly what im trying to do....
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Trader's example is more complex than what you need. Just take a look at a more simple version of it.
In my example it is for a SL distance, but you can replicate it exactly in the same way for your trailing stop.
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@l-andorrà Maybe I'm being stupid, but should it be *15000? Otherwise the SL would be calculated at something like 0.0014 X 1.5 which would obviously not give a valid SL?
Also, if the current ATR is say 0.0050 (50 pips), how would you tell FXDreema to place the SL at 1.5 x 50 above the entry on a sell trade. I had a go at this (and the buy SL's were correct, but in the sells don't place an SL?
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@sirboyce this depends on the chosen stop loss mode. In the picture, its raw price value (price fraction), not pips. So if EURUSD is 1.1900 and ATR is 0.0050, SL for sell will be at 1.1900 + 0.0050 = 1.1950 level.
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@roar Thanks for the explanation. That makes sense. However, I entered the parameters exaxtly as in the picture and trades immediately hit the SL as soon as opened as they were being placed at the same level. Weird.
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@sirboyce without a project link I can only assume you messed up something lol
