MetaStock Formula Setting Trading Stop Level - - ATR

Determining your stop level on a trade is one (1) of the most important elements of entering a trade. While we all develop our own way of determining a stop level I believe it is important to have a non-biased way of determining your level.

An extremely common and effective way of determining a stop level is by the use of the Average True Range. The Average True Range (ATR) simply determines the degree of price volatility of a period of days.

ATR Stop Level - MetaStock Formula (Indicator Builder)

“Close - (X * ATR( Y ))”

X = Multiplier (typically 5 or 7)

Y = average true range of a number of days (typically 14 days)

C-(5*ATR(14))

MetaStock Formula Setting Stop Level - ATR

Determining your stop level on a trade is one (1) of the most important elements of entering a trade. While we all develop our own way of determining a stop level I believe it is important to have a non-biased way of determining your level.

An extremely common and effective way of determining a stop level is by the use of the Average True Range. The Average True Range (ATR) simply determines the degree of price volatility of a period of days.

ATR Stop Level - MetaStock Formula (Indicator Builder)

“Close - (X * ATR( Y ))”

X = Multiplier (typically 5 or 7)

Y = average true range of a number of days (typically 14 days)

C-(5*ATR(14))





Buy Your Own Lifetime MetaStock Data Supply
buy

MetaStock Formula - Trailing Stop - ATR

Knowing when to exit your stock position is an important part of any traders trading method. An alternative to the percentage method is the Average True Range (ATR) trailing stop.

Trailing Stop ATR - MetaStock Formula (Indicator Builder)

pday:=Input("day of month", 1,31,1);

pmonth:= Input("Month", 1,12,1);

pyear:=Input("Year", 2000,2015,2013);

ATRmult:=Input("ATR mult", 1,20,7);

TSD1:=BarsSince(DayOfMonth()=PDay AND Month() = pMonth AND Year()=pyear);

TSD2:=HighestSince(1,TSD1=0,H);

TSD3:=TSD2-(ATRmult*ATR(15));

HighestSince(1,TSD1=1,TSD3)

With this indicator you simple need to enter the date you entered the trade and your multiplier of the ATR.

Free End of Day Data

Having access to all the world markets, end of day data, allow traders to adapt and change the markets you trade in without the need to pay another download fee is important in the border-less world we live in. We have conducted a review of different provider and have identified "Free End of Day Data - Stock Data Fetcher".

We see this as the perfect addition to a traders tool chest, coupled with Metastock, or similar and a CFD trading account like www.igmarkets.com.
Stock Data Fetcher provides the software with a single fee, with unlimited access to world markets, indices, forex and indicators. This fee also provides the software with no limited time on the supply of data, basically one fee all market, forever. 
We also like that the end of day data downloaded can be grouped into individual portfolios, of your choosing with mixtures of exchanges, indices, indexes, sectors, currencies and commodities. 
See Program Read More