ATR Trailer Expert Adviser

ATR Trailer is a client side VTL Expert Adviser. The EA opens a position when the EA is started on VertexFX client terminal. It then applies a stop loss based on ATR and ATR multiplier (default 3).

The stop loss is calculated as (entry price – ATR * ATR multiplier). Then as the trade progress, the stop loss is trailed, subtracting ATR stop loss from the maximum favorable level the price has reached. This continues until the stop loss is hit. When stop loss is hit, the EA opens new trade in the opposite direction to the closed trade, and ATR trailing stop loss is applied until stop loss is hit.

The EA is an always in market stop and reverse type trading system. The EA is customized through the following parameters:
1- ATR Period” is the period for the ATR calculation.
2- “ATR Multiplier” is the multiplication number for ATR to calculate the trailing stop loss.
3- “Start With” determines the first trade by the system. When it is set to 1, the system starts with a long position and when set to 2, it starts with a short position.
4- “Lots” determine the number of lots to trade.

The position entry level is plotted on price chart as a green horizontal line. The stop loss is marked on chart as a red horizontal line. The entry bar is identified with yellow diamond shape drawn on the entry bar at entry price.