-3ATR line

[Guest Douglas]

Could anyone be kind enough to tell me how I could draw a -3ATR line on the charts of the positions I hold?

[Caseynotes]

Hi ,  can you explain a bit more what you are looking for. The number associated with ATR refers to the number of periods the ATR is calculated from so can't be negative, or did you mean minus 3 x ATR. How did you mean to use it? Many use 1, 2 or 3 x ATR to give a stop loss levels or target levels so that would be a horizontal line on the chart.

 

 

   

[Guest Douglas]

Caseynotes thanks for your helpful response. I use minus 3 x the 14 day average true range as a trailing stop on my weekly system. I use Metastock to calculate show this. It would be much more convenient to see it on the charts of my IG positions. Particularly as I will not have access to Metastock for the next few weeks

[Guest Douglas]

Whoops, that should read 14 week ATR not 14 day ATR...

[Caseynotes]

Your best bet would be to go MT4 charts where there are a number of downloadable ATR based trailing stop indicators such as the Volty Channel Stop in the pic below.

 

Check out some others in the link to MQL5

 

https://www.mql5.com/en/forum/174228

 

 

 

 

[Guest Douglas]

Thanks for help much appreciated