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Re: MT4 Indicator requests and ideas

Krelian99, Thu Mar 22, 2018 10:20 pm

fxscalper wrote:
Thu Mar 22, 2018 8:08 pm
plz can someone modify this indicator ? i should be thankxful to him so much .. this is repaint when price move up or down , i want fix it , it doesnt repaint but only once when new day started ...

2nd i want that when ATR completed 100 % i got an alert ( after when (x) percentage of ATR should completed ..thankx u so much

i wanna test this idea of ATR , buy/sell at high/low levels , and ATR percentage completed Idea , suppose buy/sell when 70/80/90 % ATR should completed its path
I tried a similar one years ago. I thought the same as you. ATR doesn't repaint, it only shows the recent value. Normally, the SL is set with the help of ATR at the opening of the position (and trailed in trends later). Never heard that TP is set by ATR. Mostly the exit happens at 'emergency' (exit rules hit) or there is a fix TP, e.g. of 35 pips. When you see the ATR-band on the pic it should be clear why ATR isn't suitable for setting TP. You could use a wider ATR for TP, but neither scalping nor trend following should make like that.

ATR band.png
Other question: What a point is 70 or 90% of ATR? Do you think these level are relevant like S/R or Pivot or Fibo Levels. Never heard someone uses that and what noone uses can't be relevant.
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