The Volatility Stop indicator for Metatrader 5 plots a line on the chart that can be used for stop loss placement.
How to use this indicator?
- For buy trades, place a protective stop loss 3 pips below the Volatility Stop line.
- For sell trades, place a protective stop loss 3 pips above the Volatility Stop line.
The indicator contains the following inputs and parameters: period (20), multiplier (2.0), and style.
Make yourself familiar with this technical indicator and test it first on a demo account for an extended period.
It supports all time frames and trading instruments provided by your MT5 Forex broker.
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Volatility_Stop.mq5 Indicator (MT5)
Chart Example
The following chart shows how the Volatility Stop indicator looks when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The Volatility Stop indicator?
The indicator does not deliver any buy and sell signals.
Please combine the Volatility Stop with a trading strategy or system of your preference.
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Volatility_Stop.mq5 Indicator (MT5)
Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the Volatility_Stop.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration