Using ATR as SL or TP

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06/01/2016 at 2:50 PM #8589 quote
K12AN
Participant

Junior
I would like to use the Average True Range (ATR) value as an exit criteria to my strategy.

I would like to test the following possibilities. Any help would be much appreciated.
1. Take profits if pips = ATR
2. Take profit if pips = ATR/2
3. Stop loss if pips = ATR
4. Stop loss if pips = ATR/2
5. Trailing stop if pips = ATR
6. Trailing stop if pips = ATR/2
06/01/2016 at 3:27 PM #8592 quote
Nicolas
Keymaster

Master
Please find below a code snippet to code that:
```
atr = averagetruerange[14]

//set TP 2 times the ATR and SL 1 time the ATR
SET TARGET PROFIT atr*2
SET STOP LOSS atr
```
06/01/2016 at 3:56 PM #8598 quote

K12AN
Participant

Junior

Thank you for your prompt advice Nicolas.

I will give it a try 😉

06/01/2016 at 5:06 PM #8608 quote

K12AN
Participant

Junior

Would this be a problem if the ATR value is not a whole number? i.e. if ATR = 11.3 , would the SL or TP be set at 11 i.e. the nearest whole number?

Or would it be rejected as 11.3 is not a valid pip value?

Regards

Kiran

06/01/2016 at 6:54 PM #8609 quote
Nicolas
Keymaster

Master
It’s not a problem since SET STOP LOSS and SET TARGET PROFIT need “price” value, not point one (these are different instructions : PLOSS and PPROFIT).

e.g.:
```
SET TARGET PROFIT 0.0032
SET STOP LOSS 0.010
```
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Using ATR as SL or TP

ProOrder: Automated Strategies & Backtesting

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K12AN @k12an Participant

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This topic contains 4 replies,
has 2 voices, and was last updated by Nicolas
9 years, 8 months ago.

Topic Details

Forum:	ProOrder: Automated Strategies & Backtesting
Language:	English
Started:	06/01/2016
Status:	Active
Attachments:	No files

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