ATR Trailing Stop Loss Alerts Indicator For MT4 | Free Download (2024)

The ATR Trailing Stop Loss Alerts indicator is a technical analysis tool for the MetaTrader 4 (MT4) trading platform. It is based on the Average True Range (ATR) indicator and is used to set a trailing stop loss for a trade. A trailing stop loss is a dynamic order that automatically adjusts the stop loss level for a trade as the market moves in favor of the trade. The ATR Trailing Stop Loss Alerts indicator calculates the stop loss level based on the ATR and the user-defined settings and sends an alert when the stop loss is triggered. This can help traders manage their risk and protect their profits more effectively.

Download free ATR Trailing Stop Loss Alerts Indicator

How to use ATR Trailing Stop Loss Alerts Indicator

If you’re trading in the forex market, you’ll likely want to use an ATR trailing stop loss alert indicator. This indicator allows you to set a limit on your losses and notify you when that limit is reached.

First, open a forex trade and find the “Stop Loss” tab to set up your ATR trailing stop loss alert. You’ll need to enter the amount of money you’re willing to lose and the number of trades (or ” bars “) that you want the indicator to track. Click on ” Add New Stop Loss. “

Next, click on the ” Settings ” button and select ” ATR Trailing Stop Loss Alert. ” In this window, you’ll need to specify how often you want the indicator to send notifications (every 1, 2, 3, or 5 bars) and which currency pair(s) you’re interested in.

Finally, click on ” OK, “and your ATR trailing stop loss alert will be set up!

ATR Indicator MT4 trading settings

The ATR Trailing Stop Loss Alerts indicator for the MetaTrader 4 (MT4) trading platform has several settings that can be customized to suit the trader’s needs. These settings include:

1. ATR Period: This is the number of periods used to calculate the ATR value. The default value is 14.
2. ATR Multiplier: This is the factor by which the ATR value is multiplied to calculate the stop loss level. The default value is 3.0.
3. Stop Loss Mode: This determines how the stop loss level is calculated. The options are “ATR-based” (the stop loss is set at the ATR value multiplied by the ATR Multiplier), “Percentage-based” (the stop loss is set at a certain percentage of the entry price), or “Fixed” (the stop loss is set at a fixed price).
4. Stop Loss Percentage: This is the percentage of the entry price used to calculate the stop loss level if the Stop Loss Mode is set to “Percentage-based.” The default value is 3.0.
5. Fixed Stop Loss: This is the fixed stop-loss price if the Stop Loss Mode is set to “Fixed.”
6. Trailing Stop Loss: This determines whether the stop loss level is adjusted as the market moves in favor of the trade. If enabled, the stop loss will be transferred to the new group (calculated using the ATR and the ATR Multiplier) whenever the market moves in favor of the trade by the specified number of pips.
7. Trailing Stop Loss Pips: This is the number of pips the market must move in favor of the trade before the stop loss level is adjusted if the Trailing Stop Loss option is enabled. The default value is 10.

To access these settings, right-click the ATR Trailing Stop Loss Alerts indicator on a chart and select “Properties” from the context menu. The settings can then be customized using the “Inputs” tab in the “Properties” window. It is recommended to experiment with different backgrounds and see which ones work best for your trading strategy and risk management goals.

ATR Trailing Stop Loss Alerts Indicator Advantages

The ATR Trailing Stop Loss Alerts indicator for the MetaTrader 4 (MT4) trading platform has several advantages that make it useful for traders. These include:

1. The ATR Trailing Stop Loss Alerts indicator is based on the Average True Range (ATR) indicator, a widely used and reliable measure of market volatility. This means that the stop loss levels calculated by the indicator are based on sound market data and are more likely to be accurate and effective.
2. The indicator allows traders to set a trailing stop loss, which automatically adjusts the stop loss level as the market moves in favor of the trade. This can help traders protect their profits and manage risk more effectively, as the stop loss level is constantly updated based on market conditions.
3. The indicator sends an alert when the stop loss is triggered, so traders can be notified immediately and take action if necessary. This can help traders take advantage of the opportunity to close a losing trade and minimize their losses.
4. The indicator has several customizable settings, including the ATR period, ATR multiplier, stop loss mode, stop loss percentage, fixed stop loss, trailing stop loss, and trailing stop loss pips. This allows traders to tailor the indicator to their specific trading strategy and risk management goals.
5. The indicator is easy to install and use on the MT4 platform. It can be applied to any chart and customized using the “Inputs” tab in the “Properties” window.

Overall, the ATR Trailing Stop Loss Alerts indicator can help traders manage their trades more effectively and make better trading decisions. It can be a valuable addition to any trader’s toolkit.

ATR Trailing Stop Loss Alerts Indicator Disadvantages

The ATR Trailing Stop Loss Alerts indicator for the MetaTrader 4 (MT4) trading platform is a valuable tool for traders, but it also has some disadvantages that should be considered. These include:

1. The indicator is based on the Average True Range (ATR), which is a lagging indicator. It is based on historical data and may not always provide accurate signals in real-time market conditions.
2. The indicator relies on user-defined settings, such as the ATR period, ATR multiplier, stop loss mode, stop loss percentage, fixed stop loss, trailing stop loss, and trailing stop loss pips. These settings need to be configured correctly so that the indicator can produce reliable signals and provide the desired level of protection for the trader’s positions.
3. The indicator is not a stand-alone trading system and should be relied on only for making trading decisions. It should be used with other technical and fundamental analysis tools to confirm signals and make more informed decisions.
4. The indicator may produce false signals or whipsaws, especially in volatile or ranging market conditions. This can result in unnecessary trades and losses for the trader.

Overall, the ATR Trailing Stop Loss Alerts indicator is a valuable tool, but it should be used with caution and in combination with other analysis methods. Traders should carefully test the indicator and its settings before using it in live trading.

ATR Trailing Stop Loss Alerts Indicator installation on MT4

To install the ATR Trailing Stop Loss Alerts indicator on the MetaTrader 4 (MT4) trading platform, follow these steps:

1. Download the indicator from us.
2. Open the MT4 platform and go to the “File” menu. Click on “Open Data Folder” to open the platform’s data directory.
3. In the data directory, go to the “MQL4” and the “Indicators” folders. This is where custom indicators are stored.
4. Extract the .zip file you downloaded in step 1, and copy the .ex4 (indicator file) into the “Indicators” folder.
5. Close the MT4 platform and then re-open it. The indicator should now be available in the “Navigator” window under the “Custom Indicators” section.
6. To apply the indicator to a chart, drag and drop it onto the chart from the “Navigator” window. The indicator can be customized using the “Inputs” tab in the “Properties” window.
7. To receive alerts when the indicator’s trailing stop loss is triggered, go to the “Alerts” tab in the “Properties” window and select the “Enable” option. You can then choose the alert type (e.g., pop-up, email, or push notification) and set the alert conditions.

So that you know, the exact steps may vary depending on the specific version of the MT4 platform you are using. If you have any problems, please go ahead and consult the MT4 documentation or seek help from the platform’s customer support team.

ATR Trailing Stop Loss Alerts Indicator mt4 free download

Conclusion

ATR Trailing Stop Loss Alerts is an MT4 custom indicator that allows you to receive alerts when the trailing stop loss value is reached. It can be installed on your trading platform with minimal effort and provides valuable insight into your investor’s behavior.