Level Stop Reverse is a non repainting indicator working as an Automated Trailing Stop Loss with Automatic Trading Signals.
You can chose between two modes:
- Optimized Mode calculates the stop line by using an EMA (14) and Smoothed ATR (14) multiplied by a fixed multiplier of 2.824.
- Manual Mode you decide the number of pips where to place the Stop Loss. Below you will find two different type of Level Stop Reverse with different customizable features:
- ATR mode (customizable ATR period, multiplier and smoothing)
- Fixed Stop Mode (customizable fixed stop)
- File: MT4-LevelStop-Reverse.mq4
- Size: 10 Kb
Level Stop Reverse (ATR Mode)
- File: MT4-LevelStop-Reverse-ATR-mode.mq4
- Size: 11 Kb
- UseATRMode: Draws the stop line on ATR customizable period, multiplier and smoothing.
- NonATRStopPips: Set the number of fixed pips to place the stop line.
- ATRPeriod: Set the ATR period.
- ATRMultiplier: ATR value will be multiplied by this value when calculating the stop line.
- ATRSmoothing: Set the EMA period to smooth the ATR with.
- UpArrowColor: The color of the bullish signal.
- DnArrowColor: The color of the bearish signal.
- ArrowDistance: Set the distance of the arrow from the stop line.
- AlertSound: Activate sound alert when the reverse condition occurs.
- AlertMail: Send email alert.