Marktaylor58 wrote: Sat Jan 14, 2023 2:52 pm Hi I'm looking for the ATR Stop Loss Finder by very fid
basically it's a multiple atr placed above and below the high and low of the price bar
default is 14 period atr with RMA or SMMA, 1.5 x ATR multipler surely MT4 have done this, I can't find it

Code: Select all

//@version=4
study(title="Average True Range Stop Loss Finder", shorttitle="ATR", overlay=true)

ATR Stop Loss Finder for MT4

This version seems to be close to what you are looking for.

Concept

The ATR Stop Loss Finder uses Average True Range to determine a safe place to put stop losses to avoid being stop hunted or stopped out of a trade due to a tight stop loss.

For advance traders it can also be used as a guide for setting take profit or strong breakout areas as price hits other trader's stop losses.

Default multiplier setting is 1.5.

• Conservative traders can use a stop loss value of 2
• An even tighter stop loss value of 1 can also be used, too. This is used as a guide for watching price hit other trader's SL and where price can continue further.