Props to @veryfid for his original script 'ATR Stop Loss Finder'.
The concept is simple. We use the average true range to determine an appropriate stop loss distance based on recent volatility. The original script calculated the stop loss offset from the current candle's high or low. Here, I've added the option to offset stop loss from the recent local low or local high (a better way in my opinion).
I have also added a feature to automatically calculate position size by either dollar amount or as a percent of your account size to suit your risk profile (percent of account at risk per trade). This calculator supports use of leverage to calculate the amount of margin required to open desired position size.
Should include Automatic conversation of Balance /Risk amount for Non USD base Pairs, eg Usdjpy, GBPjpy, GBPAUD etc
x10000000
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Hi, this is an excellent indicator. Can you please make an option to just have small labels next to current ATR instead of the lines? Also, Can you have an option to show pip range of ATR?
stellarcollision
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Very nice script. Very much appreciated. How does the Leverage Multiplier work?
Crypto-Mojo
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Just what I was needing! Thanks for helping the community. Well done.