XA T R Stop Level
This tool for MetaTrader 5 is specifically engineered to streamline your trading operations. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup and Use XA T R Stop Level
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
Description & Settings
Sovpel Alexander
The indicator gives Stop Loss value for open position on the basis of the indicator.
Thanks to the information about the current market volatility we can develop the adaptive Stop Loss.
Average target and adaptive Stop Loss
We can use the average trading range (Average True Range) for a certain period of time and multiply that value by some constant (factor) to determine how far away stop order can be arranged from our entry . The advantage of using Stop Loss based on the Average True Range is that it is highly adaptive to current market conditions. The distance from the point of the entry to the exit point will increase in the periods of the high market volatility and decrease in the periods of the low market volatility. Thus, the adaptive Stop Loss is an excellent way to manage risks in terms of changing market volatility.
This indicator was first implemented in MQL4 and published in on 25.09.2009.
The indicator uses SmoothAlgorithms.mqh library classes (must be copied to the terminal_data_folder\MQL5\Include). The use of the classes was thoroughly described in the article .
The indicator uses the class of library (must be copied to the terminal_data_folder\MQL5\Include).
Fig.1 The XATRStopLevel indicator
